It could be termed as a fine coincidence that the World EV Day has the EV industry the world over witnessing a fall in battery cell prices below the USD 100 per kWh mark for the first time in two years. The latest average price from the Benchmark Lithium-ion battery cell price assessment is USD 98.3 per kWh approximately and the reason being attributed is the near halving of Lithium prices in China as its economic continues to slowdown. 

For India, which is touted as the world’s fastest growing electric micro mobility market in the world, the news should make the electric vehicle industry happy even though not many would be keen to immediately pass on the benefit to its customers. In India, most electric vehicles feature Lithium-ion battery packs with cells that are sourced from China, Korea or Taiwan. Those that are being made at a very small scale have the material coming from markets such as China where the prices off late have been turning quite lucrative. 

Speaking on the eve of the World EV Day, Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicle Business at BYD India, said, “Today, as we mark World EV Day, we are celebrating a sustainable future in motion and charging ahead into an electrified era. Let’s embrace the power of electric vehicles to drive positive change for our planet and future generations. With the launch of our #GoGreenWithBYD campaign, we aim to inspire every individual to embrace sustainable lifestyles and contribute to a cleaner, greener future for all.”  

Sameer Agarwal, Founder and CEO, Revfin Services, mentioned, “On this special day, we celebrate not just the technology but the people and communities coming together to create a sustainable tomorrow. At Revfin, we believe that the road ahead is electric, and we're driving change.”  

Sandiip Bhammer, Founder and Co-Managing Partner, Green Frontier Capital, averred, “For India to truly embrace EVs, we must catalyse a nationwide ‘charging revolution’. It's not merely about rolling out electric cars; it's the backbone of power behind them which truly counts. The heart of our modern mobility lies in every strategically placed charging station and every innovative solution we bring to the table. We envision a landscape wherein electric chargers are as commonplace as our current petrol pumps, seamlessly integrated into the rhythm of daily life. It's a dance of technology and infrastructure, a harmony between innovation and tradition. An electrified road is no longer a distant dream, but a reality we must confront. This is the future India not only needs but rightfully deserves.” 

Namit Jain, Co-founder and CEO, Rupyy, said, “As we commemorate World EV Day, we're reminded that we stand at a pivotal juncture akin to the early days of the internet—globally symbolised by Tesla's transformative impact and Europe's robust green policies. In India, the two-wheel electric vehicle sector has exhibited a robust growth of 60 percent in H1CY23, capturing a seven-percent market share from just 1 percent two years prior. While challenges persist—ranging from high initial costs to infrastructural gaps—the landscape is ripe for disruption. One such avenue is the evolving fintech sector, which is playing an increasingly significant role in EV adoption by streamlining financing options. From a 30 percent to 40 percent surge in EV financing penetration in recent months, fintech innovations are effectively democratising access to electric mobility. Supported by government initiatives, technological breakthroughs, and financial ingenuity, we are confident that India is steering towards a sustainable and electrified future.”  

Ketan Mehta, Co-Founder and CEO, HOP Electric Mobility, expressed, “Global climate concerns have been driving nations toward sustainability. India's pledge for carbon neutrality by 2070 spurs interest in New Energy Vehicles (NEVs) like, Hydrogen Fuel Cells, Electric Vehicles (EVs), among other options. Electric Vehicles’ adoption has been gaining traction due to their lower carbon footprint and cost-efficiency. In the first-half of CY-2023, the segment has experienced consistent sales, surpassing the 100,000-unit mark each month according to government estimates. Efforts are also underway to establish a nationwide charging network by the government and companies collaboratively. We are expanding our 'HOP Infinity Energy Network’, which we piloted in Rajasthan. We are now rolling it out to other states.” 

Mayank Bindal, Founder and CEO, Snap E Cabs, averred, “At Snap-E it would be fair to say that the entire company has imbibed the CSR ethos; We believe that solving some of the most pressing transportation problem for our customers in a profitable way and leading the way to help adopt sustainable practices and helping the planet are not two different goals. They are one and the same.” With about 400 plus cabs (all 100 percent EV) in operations, Kolkata based Snap-E is among the largest EV Cab fleet owners in the country. 
Rajat Verma, Founder and CEO, Lohum, said, “Lohum's activities are driving change by building a sustainable supply of energy transition materials. By pioneering solutions that turn EV batteries and critical material waste into virtually infinite value, we pace toward a future that makes full use of its resources and takes accountability for our planet.” 

Narayan Subramaniam, Co-Founder and CEO, Ultraviolette Automotive, mentioned, “Electric mobility in India is on the rise and we at Ultraviolette are proud of our contribution to this transformation with our flagship product - the F77. We believe the value of electric vehicle technology lies not just in functional use case segments but also in exciting, performance driven segments. India is now an emerging leader in the global EV arena demonstrating rapid EV adoption consistently. We applaud the initiatives undertaken by the government and industry to bolster this transition, including the FAME II scheme and the PLI scheme. These policies not only offer financial incentives to manufacturers and buyers but also provide crucial guidance to the ecosystem.” 

Nitin Kapoor, Managing Director, Saera Electric Auto Ltd, expressed, "With 40 different types of vehicles and USD 4.23 billion market value, the Indian EV market stood at 11th position in the world on the readiness index. Thus, there is an urgent need to accelerate the EV transition of the country in line with sustainable development goals. The large market with huge domestic demand augurs a golden future for green mobility in India. Electric rickshaws, which are phenomenal in first and last-mile connectivity in metros and providing affordable commutation to sub-urban and rural populace, can further propel India’s EV industry with government support. The industry seeks a more amicable approach from the government with favourable initiatives like subsidies, lower taxes, simple financing alternatives, development of EV charging infrastructure, and establishment of uniform infrastructure standards. These measures are essential in driving India towards a more sustainable future powered by electric vehicles". 

Ankit Mittal, Co-Founder and CEO, Sheru, said, "India’s EV sales are at a tipping point, with this being the first year that sales of EVs going past the five-percent mark of all vehicles sold. This is an important figure. India’s EV sector has thus crossed its infancy stage and is poised to enter the rapid growth stage. While we look back at what has been achieved with satisfaction, we must also be prepared for what is to come next. If we implement our plans and execute it well, India’s mobility sector will witness a transformation in the coming years. Sheru is leading EV sustainability from the front". 

Ashish Deswal, Founder, EarthtronEV, averred, "With more people shifting to EVs, the Indian electric vehicle market size of USD 4.23 billion in 2023 is expected to grow at a CAGR of 68 percent to reach USD 152 billion by 2030. The country aims to achieve 100 percent electric mobility by 2030, which requires rapid expansion of EV charging infrastructure. Still, the charging infrastructure is not sufficient to provide an adequate pace for mobility transition. Besides, a move towards standardisation of EV charging connectors is necessary to benefit the EV charging industry and accelerate the transition to sustainable transportation".

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Epsilon CAM, the cathode materials business of Epsilon Group, has entered customer validation testing for its Gen 3.0 Lithium Iron Phosphate (LFP) Cathode Active Material with battery cell manufacturers across the Asia-Pacific region, Europe and the United States.

The material, launched in April 2026, records a discharge capacity of 159 mAh/g and an electrode density of 2.51 g/cc or higher. These metrics match performance benchmarks established by Chinese producers, who have historically supplied the majority of LFP cathode materials to international markets.

Epsilon CAM plans to construct a manufacturing facility with an annual capacity of 20,000 tonnes per annum (TPA) by 2028, with targets to expand output to 100,000 TPA. The expansion aims to position the company as an alternative supplier of cathode active materials outside of China.

Vikram Handa, Managing Director, Epsilon Group, said, "The global battery industry is entering an era where technology leadership must be complemented by resilient and diversified supply chains. The advancement of our Gen III LFP cathode material into customer validation with large global cell makers shows our commitment to providing cell manufacturers with high-performance, globally competitive and supply chain-resilient cathode solutions."

Product engineering for the material is conducted at Epsilon CAM's Cathode Technology Centre in Moosburg, Germany. The research hub operates alongside a 250 TPA pilot manufacturing facility and holds 149 patents in cathode chemistry, materials science and process engineering.

The non-Chinese origin of the technology and its manufacturing processes complies with United States Prohibited Foreign Entity (PFE) regulations regarding battery material provenance. This compliance provides automotive original equipment manufacturers and cell producers with a supply chain option that aligns with North American and European regulatory frameworks for electric mobility and energy storage products.

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E3 Electric.AI, a Bengaluru-based electric mobility startup, has officially entered the passenger scooter segment with the launch of the E3 TRION, a vehicle positioned as India’s first artificially intelligent electric scooter. The company unveiled the model as a new category contender, combining human-centric design with predictive intelligence and a modular architecture that enables continuous learning and adaptation over time.

The E3 TRION is built on the proprietary TRIAXISFRAME modular platform, which supports both portable and fixed battery configurations. This scalable architecture allows for multiple variants, namely the C1 with a removable battery, the C1x offering an IDC range of 165 kilometres from a three-kilowatt-hour pack and the C2 variant that achieves a top speed of 82 kmph and accelerates from 0 to 40 kmph in six seconds in Sport mode.

Central to the scooter’s intelligence is the E3 COMMANDCENTER, which includes the proprietary intelligent IoT core and cloud-based monitoring systems. This setup continuously tracks each connected vehicle, predicts potential failures before they occur, enables proactive servicing and delivers over-the-air software updates. With each ride, the system accumulates data to refine its responses, creating an evolving ownership ecosystem aimed at increasing rider confidence.

The rider interface is managed through the TRIPSENSE Intelligent Cockpit, featuring a five-inch INSIGHT DISPLAY that pairs with a smartphone for a unified experience. The system provides navigation, charging insights and AI-powered alerts, while the broader suite of over 100 intelligent functions includes a 10-second diagnostic health scan, predictive reports, a smart trip planner with charger locator, remote battery monitoring, dashcam capability, SOS assistance and geo-fencing.

Practical usability for Indian families remains a key focus, with the scooter equipped with 14-inch TRAKWHEEL wheels for improved grip and stability across varied terrains. The vehicle also features IP67 weather protection, safeguards against voltage fluctuations and the LIGHTIQ intelligent lighting system with dual projector LED headlamps and signature rear lamps. Ergonomics are addressed through ERGORIDE principles, optimising six contact points for natural visibility and comfort, while combined storage across the boot, floorboard and glove box totals up to 52 litres.

Powertrain options include a 2.3-kilowatt-hour portable VOLTPORT battery and a three-kilowatt-hour fixed battery, both using durable LFP chemistry and engineered for up to eight years of real-world use. The high-efficiency PMSM hub motor incorporates ROTORING and a detachable rim for faster servicing. Available in six colour options with various accessories, the E3 TRION is priced at an introductory ex-showroom Bengaluru rate of INR 109,999 for the C1x and INR 119,999 for the C2 variant.

Sanjeev P, Founder & CEO, E3 Electric.AI, said,"E3 Trion isn't an electric scooter with an app bolted on. It is built with AI at its core, human centric engineering and a modular future-ready platform. Every problem that's held Indian families back from going electric – range anxiety, safety, service, cost – is something we designed around from day one. We didn't want to build just another electric scooter; we set out to build an electric scooter where predictive intelligence is core to the architecture. The E3 Trion has been crafted keeping Indian families in mind, where daily commuting demands reliability, practicality and peace of mind. By making the technology adaptive and the experience intuitive, we want everyday travel to feel smoother and more dependable. This is a meaningful step towards mobility that's not only efficient but genuinely aligned with what modern Indian riders expect."

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VinFast Auto India has inaugurated its 60th retail outlet, a new 3S dealership in Patna, Bihar, marking the company’s first foray into the eastern state. The facility, established by Patliputra Motors Private Limited and led by Harsh Raj, is strategically positioned on NH-30, Bypass Road, to serve as a key access point for regional customers. This milestone comes just one year after the automaker opened its first Indian showroom, underscoring the rapid scaling of its commercial footprint.

Spanning 11,500 square feet, the Patna facility adheres to VinFast’s global retail standards and integrates vehicle sales, after-sales services and customer support within a single premises. A 3,000-square-foot modern showroom allows visitors to interact with the electric vehicle lineup, while dedicated professional teams manage the entire ownership journey. The one-stop destination is designed to handle everything from initial discovery and purchase to ongoing maintenance and care.

The expansion into Bihar reflects VinFast’s deliberate strategy to penetrate tier 2 and tier 3 markets alongside major metropolitan hubs, with Patna serving as a critical gateway to eastern India. The company remains on track to reach 75 dealerships across more than 60 cities by the end of 2026. Beyond retail growth, VinFast is concurrently bolstering its domestic ecosystem through local manufacturing, charging infrastructure and strategic partnerships to support India’s sustainable mobility transition.

The company’s premium electric SUVs, the VF 6 and VF 7, have achieved 5-star Bharat NCAP safety ratings and come with comprehensive benefits, including roadside assistance, three years of complimentary maintenance, and warranties up to 10 years or 200,000 kilometres. The seven-seater VF MPV 7 offers a 517-kilometre ARAI-certified range and fast-charging capability. Customer incentives include the Value Assured Programme for buyback guarantees, complimentary charging on the V-Green network until 2029 and a ‘Trade Gas for Electric’ initiative to facilitate the switch from internal combustion engine vehicles.

Tapan Ghosh, CEO, VinFast India, said, “We are delighted to mark the milestone of 60 dealerships in India while establishing VinFast’s presence in Bihar for the first time. This marks an important step in our growth journey and opens up new opportunities in a promising market in eastern India. VinFast remains committed to building a strong retail and after-sales network and accelerating the adoption of green mobility across the country.”

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Bengaluru-based electric two-wheeler manufacturer River Mobility has closed a USD 120 million Series C funding round comprising equity and venture debt.

The funding round was led by Elev8 Venture Partners and Claypond Capital, with equity participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital and HDFC AMC. Existing investors including Yamaha Motor Corporation, Al Futtaim Group, Mitsui & Co., Alteria Capital, Innoven Capital and Stride Ventures also participated in the round.

The company plans to utilise the capital to expand manufacturing capacity at its factory, construct a greenfield production facility, introduce products in the utility vehicle segment and support margin expansion and EBITDA targets.

River Mobility launched its Indie model in 2023 and operates over 75 retail locations across India, with plans to expand to 350 stores by March 2028.

At present, the company says its monthly EV sales have reached 5,000 units.

Aravind Mani, Co-Founder & CEO, River Mobility, said, "This funding marks an important milestone in River's journey. The confidence shown by both our existing and new investors reinforces our belief that there is tremendous opportunity to build India's first utility and design based mobility brand. This capital gives us the ability to accelerate our product roadmap, expand our manufacturing footprint and presence across the country."

Navin Honagudi, Managing Partner, Elev8 Venture Partners, said, “The electric two-wheeler market in India is entering a defining growth phase, driven by strong consumer adoption, improving economics, and increasing demand for differentiated products. River stands out for its sharp product thinking, exceptional execution capability, and a highly differentiated positioning in the market. Aravind, Vipin and the team have built a brand that resonates deeply with consumers looking for brilliant design, utility and durability. We believe River is well-positioned to emerge as one of the defining EV companies from India.”

Sekhar Garisa, Managing Director, Claypond Capital, said, “River has combined disciplined execution and thoughtful product differentiation to rapidly grow and garner customer love in a competitive market. We are excited to support the team as they scale further while contributing to the country’s energy transition and domestic manufacturing ambitions.”

Hajime Jim Aota, Chairman of Yamaha India Group, said, “River’s focus on building vertically integrated electric vehicle technology platform has been a key driver of its success. Yamaha are proud to see the progress made by River so far and are excited about being part of the next phase of growth.”

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