Jupiter Electric Mobility (JEM) launched its first electric light commercial vehicle (eLCV), a one-tonne payload truck called TEZ, at an event in Indore, marking its entry into India’s fast-evolving EV logistics space. 

The company, which has previously worked with Tata Motors and Volvo, aims to capitalise on the country’s push for sustainability, efficiency and self-reliance in transportation.

“Electric mobility is no longer an option but an imperative,” said Jupiter Group Managing Director Vivek Lohia, at the launch event. “With rising fuel costs and environmental concerns, this is the right moment to bring fully indigenous, high-performance eLCVs to market.”

The newly unveiled truck promises industry-leading specifications, including a robust electric drivetrain, extended range and smart connectivity features. 

JEM has also committed to rapid product expansion with two- and three-tonne variants expected by the end of the year.

Besides the eLCV, the company also inaugurated it's state-of-the-art manufacturing facility in Prithapur that will serve as the backbone of its electric vehicle production strategy, ensuring high localisation and reduced import dependency. 

Currently, the plant is equipped with a capacity of around 10,000 units a year, which the company plans to increase with demand. 

“We have invested around INR 1.5 billion in the manufacturing unit. Our built-to-suit model ensures these eLCVs are tailored for real-world applications. The focus is on engineering solutions that are not just innovative but also practical and commercially viable,” informed Jupiter Group Deputy Managing Director Vikash Lohia. 

“A vehicle alone cannot drive change. We need a complete ecosystem for seamless adoption,” Vikash emphasised.

The new facility spans 2.5 acres and is equipped with an in-house skateboard platform to vehicle assembly unit, reinforcing JEM’s focus on ground-up manufacturing. 

With a keen focus on durability, JEM’s trucks are designed for high-utilisation applications such as e-commerce, grocery and cement transportation. The vehicles also incorporate advanced remote monitoring and predictive analytics, catering to leasing firms and fleet operators seeking better asset management.

Manufacturing journey 

Speaking at the launch, Jupiter Electric Mobility Director Kartik Hajela informed, " Three years ago, the company set its sights on entering the electric truck segment. The challenge was competing with established players in an industry that has operated for decades. But the company saw electrification as a reset, a new starting point for all. Unlike traditional automotive products that move directly from retail to end-use, EVs demand an ecosystem approach spanning financing, insurance, and charging infrastructure."

"With market readiness still evolving, we took a patient approach, iterating vehicle design multiple times to ensure adaptability across applications. The goal was to create a product that isn’t confined to a single use case. Given that commercial vehicles remain in operation for 10 to 15 years, resale value and versatility were key considerations," he added.

Range anxiety was another major concern. The company engineered its trucks to deliver an on-road range exceeding 190 km with heavy payload capabilities. 

The vehicle’s 265 Nm torque and 80 kW motor enabled it to handle high-load applications. Fast-charging capabilities were also built in, allowing for a 100 km top-up in just one hour. Battery longevity was another strategic bet. 

"While some questioned the company's decision to oversize the battery two years ago, falling costs worked in the our favor. The result is a vehicle offering longer life cycles, fewer charge cycles and sustained reliability," added Hajela. 

The company also identified fleet financing and leasing as a growing market segment. 

"Many last-mile operators, influenced by the gig economy, prefer renting over ownership. To address financiers’ concerns about asset risk, the company developed an in-house telematics platform, integrating sensors to track vehicle wear, overload and driver behavior. This proprietary system offers predictive insights, helping leasing firms manage their fleets more efficiently," said Hajela. 

The company's roadmap focuses on continuous range improvement and deeper integration of smart vehicle monitoring. With a blend of hardware innovation and software intelligence, the company seeks to position itself as a key player in India's evolving commercial EV space.

The company is also expanding its footprint through a state-wise rollout, beginning with key markets such as Bengaluru, Delhi, Hyderabad, Ahmedabad, Mumbai, Kolkata and Chennai. 

Strategic collaborations with partners like Porter, Pulse Energy, Battwheel and Tapfin will further strengthen JEM’s presence in the EV sector.

The vehicle is priced at INR 1,035,000 (ex-showroom). Deliveries are slated to start in March. 

Exide Energy Solutions, the subsidiary of India’s leading lead-acid battery maker Exide Industries, has further strengthened its leadership team with the appointment of Atul Arya as its new Chief Commercial Officer.

With an experience of over three decades, Arya has held various senior positions across multinational companies such as Siemens, Alstom, Schneider Electric and Johnson Controls among others.

In his last stint, Arya held the position of Head Energy Systems Division for Panasonic for India, South Asia, Middle East and Africa region. Arya has a deep understanding of the electric vehicle and battery ecosystem, which will be a key factor in his new role at Exide Energy Solutions.

For the unversed, Exide Energy Solutions is building what is claimed to be India’s first gigafactory for lithium-ion cells. It aims to cater to demand for both electric vehicles as well as advanced energy storage solutions. The company is setting up a 12 GWh lithium-ion cell manufacturing facility in Bengaluru, Karnataka in two phases. Interestingly, till date Exide Industries has invested around INR 33 billion in Exide Energy Solutions, with the last infusion of INR 1.49 billion in January 2025.

Hyundai Motor India (HMIL), a leading manufacturer of passenger vehicles in the country, has inked a Memorandum of Understanding (MoU) with Indian Oil Corporation, the country’s largest energy company, to explore viability for mass-use of Hydrogen fuel cell vehicles in India.

As part of the understanding, the automaker has handed over a Hyundai NEXO Hydrogen FCEV to Indian Oil for conducting real-world tests on Indian roads. The two-year trial will see the hydrogen-powered vehicle being tested around 40,000 km of real-world usage, including total ownership cost, maintenance, economic viability and environmental benefits.

Unsoo Kim, Managing Director, Hyundai Motor India, said, “As India’s foremost smart mobility solutions provider, it is our firm resolve to innovate with future ready technology. By signing a Memorandum of Understanding with Indian Oil Corporation, a pioneer in India’s energy sector, we aim to combine world-class hydrogen fuel cell technology with Indian expertise. Together, we seek to unlock the potential of green hydrogen as a transformative energy source making it accessible, affordable, and sustainable. We are confident this collaboration will serve as a critical step in demonstrating the potential of hydrogen as an alternate sustainable fuel source in the times to come.”

Dr Alok Sharma, Director (R&D) and Board Member, Indian Oil, said, “As India’s largest public-sector energy entity, we at Indian Oil are proud to be catalysts in the government of India’s vision to attain energy security and reduce fossil fuel imports. We believe hydrogen fuel is a vital component of India’s clean energy roadmap, and fuel cell technology holds immense potential in significantly aiding net carbon neutrality. This collaboration with Hyundai Motor India will enable us to conduct in-depth studies in fuel cell technology and advance efforts towards realising a greener mobility ecosystem.”

It maybe recollected that it was just last year, Hyundai Motor India held a groundbreaking ceremony for its hydrogen innovation centre at the Tamil Nadu Investors Conclave 2024 in Chennai. In a strategic partnership with the Indian Institute of Technology Madras (IITM), Guidance Tamil Nadu, and the support of the Tamil Nadu state government the facility will serve as a catalyst for innovation in the field of hydrogen technology.

Saudi Arabia-based state-owned petroleum and natural gas company Aramco has announced a new collaboration with Chinese electric vehicle major BYD to explore closer collaboration in new energy vehicle technologies. 

Saudi Aramco Technologies Company (SATC), a subsidiary of Aramco has signed a joint development agreement with BYD to develop innovative technologies that enhance efficiency and environmental performance. The partners research and development teams will join hands with an aim of achieving new energy vehicle breakthroughs.

Ali A. Al-Meshari, Aramco Senior Vice-President of Technology Oversight & Coordination, said, “The collaboration between SATC and BYD aims to support energy efficiency improvements, and it builds on Aramco’s extensive research and development of new energy solutions. Aramco is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts. This work stems from our belief that multiple approaches are necessary to support a practical energy transition and we are delighted to collaborate with BYD on this journey.” 

Luo Hongbin, Senior Vice President, BYD, added, “At the crossroads of technological innovation and environmental protection, BYD always believes that true breakthroughs come from openness and collaboration. We expect that SATC and our cutting-edge R&D capabilities in new energy vehicles will break the boundaries of geography and mindset to incubate solutions that combine highly-efficient performance with a lower carbon footprint. We are confident that this will support the world’s efforts to address the climate challenge.”

Digital lending platform Revfin has strengthened its management with the appointment of three senior executives as part of its FY2026 strategy, targeting INR 7.5 billion in disbursements and 5x growth over the past two years. The company also expects to cross INR 20 billion in cumulative disbursements since inception.

The new appointments include Abhinandan Narayan, Chief Business Officer – New Business, Monish Vohra, COO – Operations & Collections and Anirudh Gupta, Chief Finance & Strategy Officer. The appointments the company shared aligns with its focus on ‘People, Process, Profitability.’

Furthermore, Revfin has outlined its ambition to finance 24,000 EVs in FY2026. Till date, it claims to have financed over 85,000 EVs across 25 states, with 75 percent of borrowers from marginalised communities. Cumulatively, its driver partners have covered 1.6 billion electric miles and earned over USD 400 million.

In FY2025, the company grew its L5 EV loan book by 1,700 percent, supported by a partnership with Bajaj Auto and expanded collaborations with logistics firms. The L5 segment remains a key focus as a replacement for ICE vehicles in urban transport.

Sameer Aggarwal, Founder & CEO, Revfin, said, “The last financial year was a volatile one for the EV industry, but the excitement and energy within the sector remain undiminished. At Revfin, we are deeply convinced that intracity and small commercial vehicles must – and will – transition 100 percent to electric within the next three years. The opportunity is here and now. It’s time to set bold targets and pursue hypergrowth over the next two years. At this critical juncture, the right leadership becomes essential to realizing our ambitions. With the strong momentum we’ve already built, we’re confident the journey ahead will be even more rewarding. We’ve entered 2025 with a sharp focus on what truly matters: People, Processes, and Profitability. These latest leadership hires are a natural extension of that focus and our commitment to scale with purpose.”