Zypp Electric, one of India's leading tech-enabled EV-as-a-service platforms, in partnership with Indofast Energy (a 50-50 joint venture between Indian Oil Corporation and Sun Mobility), have announced an ambitious plan to deploy 100,000 electric two-wheelers over the next 12-18 months.

The announcement builds upon the earlier association between the two partners, where Zypp Electric has already deployed more than 10,000 EVs with Indofast Energy’s battery swapping infrastructure. 

The additional fleet will see Zypp Electric scale from 20,000 EVs to 100,000 EVs within the next 12 to 18 months and further 500,000 vehicles in the following 36 to 48 months.

The new EVs will be deployed across Delhi NCR, Mumbai, Bengaluru, Hyderabad, Pune, Lucknow and Jaipur.

At present, Indofast Energy has setup battery swapping stations every 1.5km in Delhi NCR and Bengaluru.

Tushar Mehta, Co-founder & COO, Zypp Electric, said: “At Zypp Electric, we are committed to redefining last-mile logistics with sustainable and cost-effective EV solutions. This major expansion will not only solidify our market leadership in India but also propel us towards global markets in Southeast Asia, the Gulf, and Africa. Our strengthened collaboration with Indofast Energy will play a crucial role in ensuring seamless operations and accelerating EV adoption across key urban centres.”

Rajat Malhan, Senior Vice President, Indofast Energy, said, “As we strengthen our groundbreaking partnership with Zypp Electric, we're not just expanding our fleet - we're revolutionizing the fabric of urban mobility. The deployment of 100,000 battery-swappable EVs is a resounding testament to our unwavering commitment to electrify India's logistics landscape. Together, we're improving the lives of our delivery partners and helping create a cleaner, greener future."

Delhi-NCR headquartered electric vehicle-as-a-service platform Zypp Electric has announced its financial results for FY2025. The company reported its revenue grew  50 percent from INR 3.02 billion in FY2024 to around INR 4.55 billion in FY2025.

During the period, the company crossed 100 million deliveries, with quick commerce now accounting for 47 percent of these deliveries. It also now has over 120,000 delivery partners onboard.

In terms of geography, Delhi NCR saw over 12,000 EVs, up 16 percent, Bengaluru with 5,000 EVs, up 31 percent and Mumbai with 2,400 EVs. Zypp Electric also scaled up its three-wheeler business and crossed 900 EVs in the wheeler space, catering to last-mile logistics via the driver rentals business.

Akash Gupta, Co-Founder & CEO, Zypp Electric, said, “FY2025 has been a landmark year for us. We’ve not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business. While revenue grew from INR 3.02 billion to INR 4.55 billion (pre-audited), I see a much clearer line of sight of EBITDA profitability over the next 1-2 quarters, looking at several interventions done in FY2025 for tech, team, partnerships and pushing sustainable growth levers. We continue to focus on market leadership from the existing 3 markets to more markets in the coming FY2026 while keeping a strong eye on profitability. We continue to ride the EV and Quick commerce tailwind and enable thousands of delivery partners to upgrade from ICE vehicles to EV vehicles on an easy rental plan without any high downpayment and EMI hassle backed with maintenance and charging/swapping services on their fingertips which enable them to save INR 5,000-6,000 extra over a petrol vehicle via Zypp Electric rental platform.”

Going forward, Zypp Electric aims to achieve EBITDA breakeven in the coming months.

BYD India, a leading electric vehicle manufacturer, has announced the prices for the 2025 model year Seal e-sedan.

The Seal is now available at prices starting INR 4.1 million (ex-showroom India). It features a Lithium Iron Phosphate (LFP) low voltage battery (LVB), which is six times lighter compared to other conventional low-voltage batteries, 5x better self-discharge consumption and offers a claimed 15-year lifespan.

Power sunshade now comes as standard for added comfort and convenience. The BYD Seal can go from zero to 100 kmph in just 3.8 seconds, it gets Frequency Selective Dampers and the debut of BYD’s Disus-C intelligent damping system. The air-conditioning system has also been upgraded with a larger compressor capacity and an all-new module for air purification.

Indofast Energy, a joint venture between Sun Mobility and Indian Oil Corporation, has partnered Green Tiger Mobility, a retrofitting company for two-wheelers for driving EV adoption.

As per the understanding, Green Tiger Mobility’s ARAI-approved retrofit solution will convert petrol two-wheelers to electric-powered two-wheelers. Furthermore, to tackle the challenge of long-charging time, the retrofitted two-wheelers will adopt Indofast Energy’s battery swapping technology.

The retrofit company shared that it’s solution encompasses RTO approval, insurance and other regulatory requirements along with financial solutions to support customers. At present, the retrofit solution is available for 11 scooter models – Hero MotoCorp’s Maestro & Pleasure, Honda Motorcycle & Scooter India’s Activa, Aviator, Dio & Cliq, Suzuki Motorcycle India’s Access & Swish, TVS Motor Co’s Jupiter & Wego and Yamaha Fascino.

The company has introduced the service in Bengaluru and will soon be expanded to Delhi NCR and the rest of the country in the next 12 to 15 months. Furthermore, the initial focus will be on quick commerce delivery executives, which will later be extended to the mass market.

Currently, Green Tiger Mobility claims it has over 500 customers in Bengaluru, and its solution is backed by six approved patents.

Rajat Malhan, Senior Vice-President, Indofast Energy, said, “Imagine your reliable petrol scooter, reborn as a sleek, battery-swappable EV. No new vehicle purchase, just a smart, sustainable upgrade! This partnership is a significant step towards green mobility for a cleaner India, while reducing fuel costs, cutting emissions, and supporting India’s EV adoption goals. We look forward to the change this partnership will bring in the lives of millions of gig workers.”

Ashish Dokania, Founder, Green Tiger Mobility, said, “At Green Tiger, we believe the future of mobility is not just about new electric vehicles but it’s about transforming millions of petrol two-wheelers already on our roads. Our retrofit solution, powered by Indofast’s swappable batteries bridges the gap between sustainability and practicality—giving people an easy way to embrace electric without replacing their trusted rides.”

Ergon Labs, a start-up working on electric vehicle powertrain technologies has inked a strategic partnership with Delhi-NCR-based EV maker Omega Seiki to supply its cutting-edge Integrated Power Converter (IPC), which combines an on-board charger and motor controller into a single unit.

As per the understanding, Omega Seiki has placed an order worth INR 500 million to Ergon Labs for supply of IPC in its L5 electric three-wheelers. The partnership also includes a strategic investment by Uday Narang, Founder and Chairman, Omega Seiki, who will join the Ergon Labs' Advisory Board.

Ergon’s IPC is claimed to offer 30 percent (17 degrees) gradeability, with peak torque operation extended from the industry-standard 1 minute to 3-5 minutes.

Around 50 percent faster charging, which allows the EV to get a range of over 50 km in under an hour using any standard 15A socket. Upto 30 percent lower system cost compared to conventional separate on-board chargers and motor controllers. This leads to significant reduction in wiring harness complexity.

The partners have announced that the first commercial deployment of 2,000 units is planned across India in FY26, starting with the L5 Passenger segment — a rapidly growing market fuelled by aggregators like Rapido, Ola and Uber, and increasing adoption in metro cities and regional centres.

They are also jointly developing a high-performance L5 Cargo electric vehicle capable of handling over 500 kg payload with 30 percent gradeability, targeting diesel vehicle replacement in markets such as Kerala and the North East.

Ashwin Ramanujam, CEO, Ergon Labs, said, “This partnership with Omega Seiki is a pivotal milestone in Ergon’s mission to bring breakthrough innovations in light EV powertrains to market. OSM’s vehicles will see meaningful improvements in gradeability, payload capacity and charging reliability – all enabled by deep component integration at both hardware and software levels. This moment represents the culmination of three years of relentless product development by our engineering team. More importantly, it sets the stage for our next major innovation: one-hour home charging for two-wheelers, launching in 2026.”

Uday Narang, added, “After over three decades of bold investments across global financial markets, I returned to India with a mission to drive environmental and economic impact through engineering-led innovation. Omega Seiki was born out of that vision. My investment in Ergon is a continuation of this commitment. From my first conversation with Ashwin to witnessing their technology’s performance first-hand, it was clear that Ergon brings world-class engineering to India’s EV ecosystem. I’m excited to partner with this exceptional team and bring their breakthrough product to market.”