Revfin, one of India’s leading electric vehicle financing company, has advanced its sustainable mobility strategy by taking over 15,000 vehicles, valued at INR 1 billion, operating on the Sun Mobility platform. 

The portfolio is set to play a pivotal role in enhancing Revfin’s operations and influence in the country. The announcement was jointly made by Sameer Aggarwal, Founder & CEO, Revfin and Anant Badjatya, CEO, Sun Mobility, underscoring the collaborative efforts between the two companies to advance the electric mobility agenda. 

Revfin has already established a significant presence in India with existing fleet partners like Shadowfax, Log9, Evera, and Shoffr currently operating under its portfolio. It plans to double down on its business soon, further solidifying its position in the all-India market. Till now, the company has financed 65,000 vehicles in the last six months, amounting to a loan value of INR 9 billion.

Sameer Aggarwal said, "This marks a crucial step in strengthening our presence in the EV fleet sector. The Sun Mobility portfolio aligns perfectly with Revfin’s strategy, allowing us to double our two-wheeler portfolio and significantly expand our last-mile mobility. This takeover reinforces our market dominance. We are excited to expand our operational reach and contribute to the rapid adoption of sustainable mobility solutions in India.”

Anant Badjatya added, "At Sun Mobility, we are committed to enabling sustainable mobility through innovative energy solutions. Our partnership with Revfin represents a shared vision of accelerating the transition to electric vehicles in India. By integrating our portfolio with Revfin's financing capabilities, we are confident that this collaboration will drive substantial growth in EV adoption in India.”

TI Clean Mobility, part of the Murugappa Group, has appointed Jalaj Gupta as the new Managing Director.  

The auto industry veteran in his last position was the Business Head for Commercial Vehicles at Mahindra Group. He has around 29 years of experience in the automotive industry with expertise in business strategy, product development, sales, marketing, and vendor management.

Gupta an alumnus of Punjabi University and IMT Ghaziabad has also held leadership roles at Tata Motors and Ashok Leyland.

Prior to Gupta, TI Clean Mobility was led by Kalyan Kumar Paul, who served as the Managing Director with over 30-years of career with Tube Investments of India (TII) Group, which is part of the Murugappa Group. Paul had retired from the company in October 2024.

TI Clean Mobility, the electric vehicle business of the Murugappa Group, currently sells electric three-wheelers under the Montra brand and is also set to enter the electric small commercial vehicle (e-SCV) and electric tractor space. 

Mumbai-based automotive major Mahindra has unveiled the teaser sketches of its upcoming electric origin SUVs – the BE 6e and XEV 9e ahead of the November 26 debut.

Based on the Heartcore design philosophy, the BE 6e and XV 9e are completely new pure electric vehicles designed by the company, which it believes will disrupt the passenger vehicle segment.

The company is betting big on the upcoming EVs as they encapsulate dynamic styling, premium materials, and progressive proportions.

Pratap Bose, Chief Design & Creative Officer, Mahindra & Mahindra, said, “Heartcore Design is about creating an emotional bond with our customers through design. Prepare to fall in love with our Electric Origin SUVs.”

Montra Electric, a brand owned by Tl Clean Mobility Pvt Ltd, has praised the Government of India for the continuation of subsidy support for the electrification of last-mile mobility under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme.

Roy Kurian, Business Head, Montra Electric (Last Mile Division), said, “Montra Electric sincerely thanks the Ministry of Heavy Industry, Govt of India for ensuring continuity of the subsidy support to last-mile mobility. This crucial support will help the industry navigate challenges and further speed up the shift to electric last-mile solutions.”

The PM E-DRIVE Scheme was launched on 29 September 2024. The scheme was put into effect on 1 October 2024 and will continue until 31 March 2026. Furthermore, EMPS-2024, the number of vehicles and the spending under EMPS-2024 for e-2w and e-3w being implemented from 1 April 2024 to 30 September 2024 are being subsumed under the PM E-DRIVE Scheme; hence, the scheme's effective time will be two years.

Pure EV, one of India's leading electric two-wheeler manufacturers, has entered into a strategic partnership with Arva Electric Vehicles Manufacturing LLC, a subsidiary of Clarion Investment LLC, with an aim to expand its presence across the Middle East and African regions.

Under the terms of the agreement, Pure EV will provide Arva Electric with a first shipment of 50,000 of its flagship models, the eTryst X and ecoDryft, over the next couple of years. Pure EV's position in these developing markets is anticipated to be cemented when the supply rises to 60,000 units per year after this initial phase. Pure EV will be Arva Electric's key technology partner in addition to supplying motorcycles, offering knowledge and assistance all the way through the distribution process. Pure EV will uphold all intellectual property rights pertaining to the bikes in order to safeguard unique technology as they increase their market share.

Dr Nishanth Dongari, Founder and Managing Director, Pure EV, said, “Our commitment to innovation and user experience ensures that we provide market-ready offerings and meet the growing demand for electric mobility solutions. This partnership not only aims to enhance sales but also to foster sustainable mobility solutions in regions where electric motorcycles are rapidly gaining traction, marking a significant step towards expanding our footprint in Middle East and African markets. By leveraging our strengths and capabilities together with Arva Electric, we are poised to make a significant impact on the electric vehicle landscape globally.”

Aniyan Kutty, Managing Director, Arva Electric Vehicles Manufacturing LLC, said, “We are pleased to partner with Pure EV, as their expertise in R&D and cutting-edge technology helps in building efficient and reliable 2W products. Both the companies are committed to promoting eco-friendly mobility solutions with an aim to reduce carbon emissions and support environmental sustainability in these regions.”