Axis Bank, one of the largest private sector banks in India, in partnership with GuarantCo, part of the Private Infrastructure Development Group (PIDG), has extended an INR 1 billion (around USD 12 million) guarantee to Muthoot Capital, one of India's fastest-growing NBFCs in India. This will empower the NBFC to lend to on-lend customers in rural and non-metro regions in India, for purchasing electric two-wheelers.

GuarantCo has provided a 65 percent on-demand credit guarantee to Axis Bank for this transaction, which is part of a broader USD 200 million electric vehicle (EV) framework agreement signed by GuarantCo and Axis Bank. This framework was established to enable mobilisation of funds between USD 300 and 400 million for financing the e-mobility ecosystem in India.

This collaboration with Muthoot Capital will focus specifically on providing transport solutions to rural and non-metro regions that predominantly consist of lower-income populations that have historically been underserved. The transaction will benefit Indian companies operating within the EV ecosystem with over INR 800 million (around USD 10 million) and is expected to impact local businesses in the supply chain, such as equipment manufacturers, vehicle dealers and insurers.

The INR 1 billion EV transaction will increase electric two- and three-wheeler vehicle provision, contributing to SDG 9.4 (Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies) and SDG 11.2 (Provide access to safe, affordable, accessible and sustainable transport systems for all).

This is GuarantCo and Axis Bank’s third transaction under the EV framework agreement. In December 2023, it had first enabled an INR 2.5 billion (around USD 30 million) loan to Vivriti Capital for supporting the company’s expansion strategy in the e-mobility ecosystem of India, and subsequently extended INR 1 billion (around USD 12 million) loan to Everest Fleet for the purchase of electric cars to be deployed as low pollution emitting taxis in India.

Rajiv Anand, Deputy MD, Axis Bank said: “Axis Bank stands committed to support and accelerate the growth of e-mobility industry in India. As one of the leading banks in the country, we are dedicated to driving initiatives that create positive environmental and social impact. By promoting the adoption of electric vehicles, we are working to reduce emissions, enhance air quality and provide affordable and accessible transport solutions nationwide. We have proactively scaled up our partnerships and engagements with EV dealers, manufacturers, and other players and will continue to do so. This collaboration not only supports the development of green infrastructure in India but also aligns with our broader vision of fostering an inclusive future where sustainable practices benefit all segments of society.’’

Mathews Markose, CEO, Muthoot Capital said: “Partnering with GuarantCo marks a significant step forward in accelerating the adoption of electric vehicles and advancing sustainable transport solutions in our country especially in the rural and semi-urban markets. This funding will enable MCSL to provide innovative and tailor-made financing options aimed at making electric vehicles more accessible and affordable to a wide range of consumers and businesses. We look forward to enabling the common man to own their own two-wheeler ensuring affordability and convenience. This will lend wings to our slated objective of growing our EV by 200 crores during FY2025.”

Layth Al-Falaki, CEO, GuarantCo said: “We are delighted to have closed the transaction with Muthoot Capital under the Electric Vehicle framework guarantee agreement that we signed with Axis Bank in May 2022.  This is the third transaction that we have closed under the agreement which after the ones that we closed with Vivriti Capital and Everest Fleet now total INR 4.5 billion (c. USD 54 million). This is also the first transaction under the framework which will cover the demand side of the EV business through the provision of credit so that customers can purchase electric vehicles.  In addition, the transaction is expected to have a market transformation effect that we hope that it will help catalyse deployment of more electric vehicles in India. GuarantCo, through the Private Infrastructure Development Group, will continue to utilise the climate mitigation guarantee with Axis Bank to further the e-mobility ecosystem in India and to deliver against our climate action aims aligned with the PIDG 2030 strategy.”

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PepsiCo India has announced the expansion of its green logistics network through three integrated initiatives aimed at reducing supply chain emissions. The centrepiece of the rollout is the launch of a dedicated EV Green Corridor on the Kosi-Pataudi route, developed in partnership with Kalyani Powertrain, a subsidiary of Bharat Forge.

The Kosi-Pataudi corridor will utilise eight 32-feet single-axle re-powered electric container trucks. This initiative is expected to cover approximately 480,000 electric kilometres annually. The model incorporates dedicated charging infrastructure, route optimisation and vehicle customisation to support linehaul freight.

Beyond the corridor, the company has implemented the following measures:

• Distributor Electrification: More than 400 distributor-linked vehicles have been converted to electric three-wheelers and four-wheelers for last-mile delivery.
• Urban Logistics: Over 80 CNG vehicles have been deployed in the National Capital Region (NCR) through logistics partners to lower the environmental footprint of urban distribution.

The initiatives were inaugurated in the presence of Laxmi Narayan Chaudhary, Cabinet Minister for Sugar Industry and Cane Development, Government of Uttar Pradesh. The project involves a ‘Partnership of Progress’ approach, coordinating with original equipment manufacturers (OEMs), finance providers and logistics firms including Vayudoot Road Carriers and New Trishul Transport Services.

Jagrut Kotecha, CEO, PepsiCo India & South Asia, said, "At PepsiCo India, sustainability is embedded in how we operate and grow. The launch of the EV Green Corridor on the Kosi-Pataudi route, together with the electrification of our distributor fleet and CNG deployment in NCR, reflects our commitment to building a supply chain that is cleaner, more efficient, and future-ready. Through our Partnership of Progress approach, we have brought together the right partners across technology, logistics, infrastructure, and finance to make this a reality. We believe this kind of ecosystem collaboration is what it takes to drive lasting change, not just for PepsiCo, but for the sector."

Pankaj Sonalkar, MD, Kalyani Powertrain, said, “This initiative demonstrates how electric vehicle technology can be effectively integrated into commercial logistics operations when supported by strong ecosystem collaboration. At Kalyani Powertrain, we remain committed to developing innovative and reliable mobility solutions that enable businesses to transition toward cleaner, more efficient transportation while supporting India’s broader decarbonization goals.”

Laxmi Narayan Chaudhary, added, “Initiatives like these reflect how industry can grow while remaining mindful of the environment. The Government is strongly focused on promoting electric mobility and encouraging cleaner modes of transportation, and this initiative is well aligned with that vision.”

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  - NEW TRISHUL TRANSPORT March 18, 2026 21:21 PM

  Great initiative and futuristic approach of pepsico and it’s team, Green india clean india.

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Audi has confirmed plans to introduce a new all-electric entry-level model, the A2 e-tron, which is scheduled for a global debut in the fall of 2026. This new addition to the lineup represents a strategic move to establish a presence in the compact class with a fully electric family of vehicles. Production of the A2 e-tron is slated to take place at Audi’s primary facility in Ingolstadt, reinforcing the manufacturer's dedication to evolving its domestic production capabilities. An initial design sketch has provided a glimpse of the vehicle's profile, hinting at its modern aesthetic.

The announcement was made by Audi CEO Gernot Döllner during the company’s Annual Media Conference, marking a significant step in the brand's journey towards an all-electric future. The decision to launch the A2 e-tron is a response to the expanding market for compact electric cars, particularly within major European urban centres. The model is designed to appeal to an international audience, with a focus on delivering a blend of practical city functionality, environmental sustainability, high energy efficiency and advanced digital features. It aims to make the brand more accessible and appealing to a new generation of customers seeking a contemporary entry point into premium electric mobility.

The choice of the A2 e-tron name is a conscious tribute to the original Audi A2, a vehicle celebrated for its forward-thinking approach to efficiency and urban transportation more than two decades ago. This new model seeks to continue that legacy, adapted for the current era of electrification. The vehicle will be a key component in refreshing and expanding Audi's lineup, which following a substantial rollout of new models in 2024 and 2025, is already one of the newest in the industry. This momentum is set to continue in 2026, with the A2 e-tron strategically positioned as the new entry point, complementing the full-size Audi Q9 at the upper end of the market. The upcoming premiere of the A2 e-tron will offer the first complete look at this new compact electric vehicle.

“We’ve listened. Our customers want electric mobility that impresses in everyday life. The A2 e-tron is our promise to deliver exactly that – efficient, compact and confident. We’re making entry into the electric Audi world easier and more relevant than ever. The A2 e-tron is crucial for our brand and also for our German home. With the production of an additional fully electric model family in Ingolstadt, we are securing jobs and delivering electric mobility ‘made in Germany’,” said Döllner.

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BYD India has announced the opening of bookings for the Sealion 7 First Anniversary Edition, a performance electric SUV. Reservations commenced on 17 March 2026 with a booking amount of INR 70,000.

The Sealion 7 is available in two variants – Sealion 7 Premium (82.56 kWh) at INR 4.94 million and Sealion 7 Performance (82.56 kWh) at INR 5.49 million. The first 1,100 customers who book by 30 April 2026 will receive an 11 kW home charger with installation and two years of free maintenance. This edition also features an 8-year or 150,000 km warranty on the Lithium Iron Phosphate (LFP) Low Voltage Battery, alongside a standard 8-year or 160,000 km warranty on the high-voltage battery.

The SUV utilises Cell-to-Body (CTB) technology, where the Blade Battery serves as a structural component of the chassis. It also features Intelligence Torque Adaptation Control (iTAC) to manage driving dynamics.

Performance and range figures (NEDC) include:

• Performance Variant: zero to 100 kmph in 4.5 seconds; 542 km range.
• Premium Variant: zero to 100 kmph in 6.7 seconds; 567 km range.

The exterior features ‘Ocean X’ styling, while the First Anniversary Edition introduces a Tahiti Blue interior. The cabin is equipped with a 15.6-inch rotating touchscreen, a 12-speaker Dynaudio system and Vehicle-to-Load (VTOL) capability, allowing the car to power external devices.

Since its introduction at Bharat Expo 2025, the Sealion 7 has recorded sales exceeding 2,500 units in India.

Rajeev Chauhan, Head of Electric Passenger Vehicles Business, BYD India, said, “The BYD Sealion 7 represents the next generation of performance electric SUVs, combining advanced technology, distinctive design, and everyday practicality. The First Anniversary Edition celebrates this journey while bringing additional value to our customers. With exclusive benefits for the first 1100 customers only and enhanced ownership advantages such as the 8-year Low Voltage Battery warranty, we aim to make premium electric mobility even more compelling for Indian consumers.”

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Bengaluru-based electric vehicle manufacturer Ather Energy has announced the expansion of its service network to 500 authorised centres nationwide. The company nearly doubled its service footprint in the 2026 fiscal year, increasing from 277 to 500 locations in alignment with its retail growth.

The expansion includes the deployment of Gold Service Centres, which feature standardised lounges and maintenance equipment. To reduce turnaround times, the company has implemented the ExpressCare initiative at 82 centres, allowing for periodic maintenance to be completed within 60 minutes.

Ather’s service network now covers Tier-1, Tier-2, and emerging cities, supporting the Ather 450 performance range and the Rizta family scooter. The company plans to increase its retail presence to 700 Experience Centres by the end of FY2026, up from 600 centres recorded on 31 December 2025.

Furthermore, as of 31 December 2025, the Ather Grid consists of 4,357 fast-charging points and neighbourhood chargers. This infrastructure is intended to provide comprehensive support for the increasing user base across India.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Crossing 500 service centres is an important milestone as we continue to scale our retail footprint and customer base across the country. From the early days, we have focused on building service capacity alongside sales because reliable after-sales support is a core part of the overall ownership experience. As our presence grows, having a strong service network becomes even more critical. Our focus is on ensuring that riders have access to trained technicians, transparent processes, and consistent service quality wherever they are.”

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