In a bid to bring forth cleaner mobility solutions, US-based Anand Group announced the launch of its latest clean technology venture, ‘Anevolve’, at Auto Expo 2023. The venture will solely focus on developing, designing and manufacturing green solutions for industries, including the electric mobility space.

Speaking at the launch, Jaisal Singh, Executive Chairman, Anevolve, said, “The birth of Anevolve is a significant step forward in our commitment to help build a greener, cleaner planet by bringing a sharper focus and renewed vigour to our strategic growth plans in this space.”

He added, “We are proud to contribute to India Inc’s move to clean mobility and look to invest around over INR 10 billion in the venture to develop solutions for greener products and systems across a broad business landscape. This will be the core of what we do.”

The executive also informed that Anevolve has already signed an MoU with Zooz Power, Headspring and Viritech, which are located in Israel, Japan and Great Britain respectively, to aid in developing the solutions. 

Commenting on the collaboration, Boaz Weizer, Chief Executive Officer, Zooz Power, said, “We are excited to join forces with Anevolve. For Zooz, this strategic collaboration aims to develop a low-cost supply chain for our ground-breaking sustainable products, with emphasis on flywheel production.”

“This tie-up also aims to introduce our technology and products to India’s hugely expanding EV charging infrastructure,” he added.

Speaking on the partnership, Osamu Hoshino, Chief Executive Officer, Headspring, said, “Signing this MoU is a great occasion. We believe that by combining Headspring’s radical future-oriented, cutting-edge technologies in power electronics technology with Anevolve’s world-class production and distribution capabilities, we can greatly accelerate the crucial transition to advanced efficient electric mobility through SiC/GaN technology.”

Alluding to the collaboration, Timothy Lyons, Chief Executive Officer, Viritech, said, “We are delighted to sign this MoU. We could not wish for a better partner for the Indian, ASEAN and SAARC markets. We believe that by combining Viritech’s radical hydrogen powertrain technology with Anevolve’s world-class production and distribution capabilities, we can greatly accelerate the vitally important transition to zero-emission goods vehicles.”

Commenting on the sustainable efforts, Sunil Kaul, Chief Technology Officer, Anand Group, said, “The entire business ecosystem will have to shift to more sustainable products, systems and operations. We, through Anevovle, intend to be a catalyst in India’s journey towards clean mobility.”

The new clean technology venture seeks to attract a revenue of INR 35 billion by FY28 and build a talent pool of 2,500 workers.

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.

Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility, the maker of ‘Joy e-bike’ and ‘Joy e-rik’ brand, has reported a consolidated net profit of INR 63.6 million for FY2025, maintaining profitability for the fifth consecutive year despite industry headwinds and a 5.1 percent drop in annual revenue.

The company’s total consolidated revenue stood at INR 3.04 billion, down from INR 3.2 billion last year. However, EBITDA rose 13.9 percent YoY to INR 3.6 billion, and EBITDA margins improved by 222 basis points to 12.11 percent, reflecting strong cost discipline and operational efficiency.

Despite a 52.7 percent YoY dip in PAT, largely due to a high base in FY2024, Wardwizard remained in the black – underscoring resilience amid a challenging EV market environment.

Yatin Sanjay Gupte, Chairman & MD, Wardwizard Innovations & Mobility, said, “While annual revenues saw a slight decline, EBITDA rose 14 percent YoY. Our profitable performance, sustained for five consecutive years, sets us apart and reinforces the strength of our strategy.”

In Q4 FY25 (Jan–Mar 2025), the company recorded a 62.2 percent YoY rise in PAT to INR 64.5 million, with EBITDA nearly doubling to INR 1.8 billion. PAT margins for the quarter expanded to 5.91 percent, and EBITDA margins reached 17.26 percent, reflecting improved product mix and cost optimisation.

During the last fiscal, the company deployed over 400 electric two-wheelers across major cities like Kolkata, Pune, and Ahmedabad as well as the launch of L5 electric rickshaws in Maharashtra. Ongoing partnerships and a USD 1.29 billion EV initiative in the Philippines are expected to drive future growth.

“With continued innovation and targeted execution, we are building a stronger foundation for long-term growth,” Gupte added.

OPG Mobility (formerly Okaya EV) has appointed Ajay Dhiman as the new President – Chief Operating Officer (COO) and Chief Technology Officer (CTO) to lead its electric vehicle and EV components business.

In this strategic leadership role, Dhiman will be responsible for operations and technology functions spanning manufacturing, R&D, product development, quality, sourcing, supply chain and business strategy.

He joins OPG Mobility with over 20 years of experience in the automotive and EV sectors. He previously served as Senior Vice-President at Revolt Motors, where he is said to play a key role across CXO-level functions and was instrumental in accelerating product development and delivering high-quality electric mobility solutions. His career includes leadership stints at Honda, Renault-Nissan, Subros and Sonalika Group, contributing across two-wheeler, three-wheeler, and four-wheeler segments.

Anshul Gupta, Managing Director, OPG Mobility, said, “We are delighted to have Ajay Dhiman join our leadership team at a pivotal moment in OPG Mobility's journey. As we step up our presence in the EV ecosystem, Ajay’s deep experience in product development and operations will be invaluable in scaling our EV and components business. His thorough knowledge of both legacy systems and new mobility technologies will drive value, innovation, and faster execution across our transformation journey.”

Ajay Dhiman, added, “It’s an honour to join OPG Mobility at such a transformative time. The brand’s vision of delivering inclusive and innovative electric mobility solutions aligns strongly with my passion for engineering excellence, innovative products and future-focused manufacturing. I look forward to working closely with the leadership and teams to strengthen our product pipeline, accelerate product innovation, strengthen our technological edge, enhance operational excellence, and scale solutions that support India’s evolving mobility needs. We aim to position OPG Mobility as a frontrunner in shaping India’s electric mobility revolution.”

The Maharashtra government has given rolled out the Electric Vehicle Policy 2025 for a period of five years (till 2030) with an estimated outlay of INR 19.93 billion.

The forward-looking policy aims to not only incentivise purchase of electric vehicles, but also aims to boost adoption and real-world usage.

As per the policy, certain EVs plying on highways will be given a toll waiver, EV charging infrastructure strengthened with an ambition have charging facilities every 25km on the national highways.

Electric two-wheelers, three-wheelers, private four-wheelers, state transport corporation buses, private buses and transport undertaking under civic bodies will get concession of 10 percent on purchase of an EV on the original cost. For goods carrying three-wheelers, four-wheelers and electric tractors will be eligible to a concession of 15 percent.

The government has also waived off registration fee on EVs. Lastly, electric four-wheelers and buses will also get toll exemption on Mumbai-Pune Expressway, Atal Setu, Samruddhi Mahamarg, along with 50 percent concession on state and other national highways.

Devendra Fadnavis, Chief Minister of Maharashtra, said, "The state government has approved a new Electric Vehicle (EV) policy, under which passenger EVs will be given subsidies. EV manufacturing and their use should increase in the state."