Bengaluru-based electric two-wheeler manufacturer Simple Energy has announced its ambitious plans to raise USD 350 million through an Initial Public Offering (IPO) slated for Q2-Q3 of FY2027.

The company is projecting INR 8 billion (USD 96 million) in revenue for FY2026 and over INR 15 billion (USD 180 million) in cumulative revenue over the next 18 months.

The EV maker states it commenced commercial operations less than two years ago, has already achieved gross margin breakeven and is targeting a 15 percent gross margin in the near term. EBITDA profitability is anticipated by the end of FY2026, with net profitability planned ahead of the IPO.

The upcoming IPO is expected to accelerate Simple Energy’s national expansion, and support manufacturing capacity enhancement.

Suhas Rajkumar, Founder & CEO, Simple Energy, said, “Clean energy is the cornerstone of India’s sustainable future. With 95 percent of our vehicle components made in India, we are proud to contribute to the Make-in-India initiative. The IPO is a pivotal step in our journey to democratise electric mobility, especially in Tier 2 and Tier 3 cities.”

With a growing footprint in key markets such as Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana and Kerala, Simple Energy aims to achieve 100,000 cumulative EV sales and a 5 percent share of the domestic two-wheeler EV market by FY2027, a sharp rise from its current 0.3 percent. Its dealership network is also set to expand from 15 to over 250 outlets across 23 states.

Founded in 2019, Simple Energy till date has raised USD 41 million in funding from a network of investors, including Balamurugan Arumugam (Chief Growth Officer, Klarity), the Apar Industries family office, Dr. A Velumani’s family office, the Haran family office and others.

Japanese automaker Mitsubishi Motors Corporation has signed a Memorandum of Understanding with Foxtron Vehicle Technologies (hereafter, Foxtron), a subsidiary of Hon Hai Precision Industry (Foxconn) for developing electric vehicles.

As per the understanding, Foxtron will develop and supply Mitsubishi Motors with an OEM EV model. This model will be manufactured in Taiwan by Yulon Motor Co (Yulon Motor) and introduced in the Oceania region (Australia and New Zealand) in the second half of 2026.

This is part of the earlier announced plan for Australia, extending through 2030, which includes premium driving performance as an EV and an advanced infotainment system, making it optimal for the Oceania region.

The Japanese automaker is making strides in the electrification space with new models along with upgrades to the Outlander PHEV, a plug-in hybrid EV, and the addition of hybrid EV models to the popular Xpander and Xforce models in the ASEAN region.

In addition to exploring collaboration with Foxconn, Mitsubishi Motors plans to enhance its electrified vehicle lineup by leveraging the strengths of the Alliance, such as receiving OEM models from Renault Group in Europe and Nissan Motor Co., Ltd. in North America.

Going forward, Mitsubishi Motors is also exploring expanding its collaboration with its Alliance partners globally, including in the Oceania region, to strengthen the electrified vehicle lineup.

JSW MG Motor India, a leading passenger vehicle manufacturer in the country, has launched the MG Windsor Pro with a new 52.9 kWh battery pack at prices starting INR 1.24 million + INR 4.5/km for the Battery-as-a-Service (BaaS) model. The MG Windsor Pro can be had without BaaS at INR 1.74 million (valid for first 8,000 bookings).

The EV now comes with a larger 52.9 kWh battery pack, claimed certified range of 449km, 136 PS of power and 200 Nm of torque. It is equipped with Level 2 ADAS, 12 major features – Traffic Jam Assist, Vehicle Safe Stop, Adaptive Cruise Control, Bend Cruise Assistance (Sub-function of ACC), Lane Departure Warning, Lane Departure Prevention, Lane Keep Assist, Intelligent Headlamp Control, Forward Collision Warning, Automatic Emergency braking system and Intelligent Hydraulic Braking Assistance ––  with 3 level of warning through audio, visual and haptic for enhanced safety.

The Windsor Pro comes with three new and vibrant colour options, Celadon Blue, Aurora Silver and Glaze Red, along with a new 18-inch dual tone machined alloys. A new dual-tone Ivory and Black interiors further highlight the variant.

In terms of creature comforts, the new Windsor Pro is equipped with Vehicle-to-Load (V2L) and Vehicle-to-Vehicle (V2V) technologies. The V2L features allow users to power external devices directly from the car, making it ideal for outdoor enthusiasts and professionals alike. While the V2V technology enables energy sharing capabilities between compatible EVs

JSW MG Motor India has also onboarded new financiers, such as IDFC First Bank and Kotak Mahindra Prime to expand the reach of its BaaS plans.

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “MG Windsor has been instrumental in accelerating the growth of India’s 4W-EV segment, winning customers over with its compelling value proposition. Positive word-of-mouth from early buyers fuelled its rapid acceptance, extending its reach beyond metro cities into Tier II and III markets. By introducing a product that stands apart from the conventional, we have successfully connected with a new wave of buyers. Alongside our partners, we remain committed to redefining the Indian auto landscape by delivering relevant innovations at the right time with the right technology. The launch of the MG Windsor Pro reflects our commitment to providing expanded choices, instilling greater confidence in EVs in general, and inviting more customers to venture confidently into the future of sustainable mobility.”

Hindustan Zinc, the world’s largest integrated zinc producer, has reported significant early-stage breakthroughs in the development of next-generation zinc-based battery technologies. These efforts aim to deliver higher energy efficiency, improved safety and longer battery life, supporting India's transition to clean, sustainable energy.

As lithium-ion battery supply chains face growing constraints and rising costs, zinc is emerging as a viable and strategic alternative. The company shared that zinc-based batteries offer several advantages, including superior safety (non-flammable), long cycle life, recyclability and operation across a wide range of temperatures. Additionally, they leave a greenhouse gas footprint nearly six times lower than conventional technologies.

Arun Misra, CEO, Hindustan Zinc, said, “Batteries are pivotal in the global shift toward clean energy. We are committed to driving innovation through our collaborations with premier Indian research institutions and by leveraging our metallurgical expertise. Our goal is to responsibly accelerate the battery revolution and contribute meaningfully to India’s energy independence.”

In partnership with the Indian Institute of Technology (IIT) Madras and the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) in Bengaluru, Hindustan Zinc is exploring sustainable zinc-based storage technologies.

Under a Memorandum of Understanding signed in August 2024, researchers at JNCASR are advancing zinc-ion battery technology, with a focus on novel zinc anode formulations and advanced electrolytes.

“Our work on electrode/electrolyte interface engineering has yielded promising results,” said Professor Prem Senguttuvan from JNCASR.

In a parallel initiative, IIT Madras is working on the development of a 1 kWh rechargeable zinc-air battery module, structured as a 6/12-cell stack. The project, led by Professor Aravind Kumar Chandiran, emphasises rechargeability, interface durability and battery longevity. “These batteries have enormous potential for electric vehicles, grid-scale storage, and consumer electronics,” said Prof. Chandiran.

Hindustan Zinc quoted a recent BloombergNEF report, which projects the global energy storage market will grow at a 21 percent CAGR, reaching 442 GWh by 2030.

Further expanding its global footprint, the company has also signed an MoU with US-based AEsir Technologies, a leader in nickel-zinc battery innovation. Through this partnership, Hindustan Zinc will provide technical expertise, commercial-grade electrodes and performance additives to help scale battery technologies from lab prototypes to industrial production.

Hindustan Zinc, a Vedanta Group company, currently supplies to over 40 countries and commands approximately 75 percent of India’s primary zinc market.

JSW MG Motor India is set to expand its EV portfolio with the MG Windsor Pro, which is set to be introduced on 6 May 2025.

The MG Windsor Pro is expected to offer a higher range, more features, improved safety and minor design tweaks. While technical details are yet to be released, it is safe to understand that the company is looking to further drive sales of its popular EV, targeting a new set of customers.

Launched on 11 September 2024, the company positioned the Windsor as a CUV (crossover utility vehicle) and the most comfortable EV in its segment.

The Windsor EV has already surpassed 20,000 units sales since launch, and has been the highest selling electric passenger vehicle for the last several months in a row.