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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CUPRA has introduced the all new Raval, a compact electric vehicle that boldly rejects ordinary design and driving expectations. As the latest addition to the brand’s expanding electric lineup, this model is built to form a genuine emotional bond with the person behind the wheel while actively pushing against conventional automotive norms.

Arriving in UK this summer, the Raval combines striking city car style with genuine performance credentials. Its starting price is set at GBP 23,785 (approximately USD 31,976), and buyers can choose from four trims: Origin, V1, V2 and VZ. Every version sits on the advanced MEB+ platform, ensuring a modern foundation for both efficiency and driving dynamics.

The entry level Origin uses a 37-kWh battery producing 115 PS. The V1 and V2 trims offer a choice between the same sized battery with 135 PS or a larger 52 kWh unit delivering 210 PS, the latter providing roughly 280 miles (approximately 450 km) of range and a fast charge time of just 23 minutes from 10 to 80 percent. The sporty VZ trim comes exclusively with the 52-kWh battery, offering around 250 miles (approximately 402 km) of range and 225 PS, plus performance upgrades like an electronic limited slip differential and Dynamic Chassis Control.

At the heart of the Raval lies a driver focused interior featuring an integrated digital instrument setup with a 10.25-inch cockpit display and a 12.9-inch infotainment screen. All vehicle parameters are controlled from this central hub. The redesigned steering wheel includes physical buttons, plus dedicated satellite controls for driving modes and regenerative braking paddles, ensuring every journey delivers the emotional engagement CUPRA promises.

Marcus Gossen, Managing Director of SEAT and CUPRA UK, said, “The CUPRA Raval is the culmination of an immense amount of hard work, dedication and effort on all fronts. Raval is the pinnacle of all things CUPRA – advanced, forward thinking, dynamic. It pushes the boundaries in automotive and encourages drivers to form a real emotional connection to the drive itself. The combination of striking design, electrifying performance and unconventional features reimagines what an urban EV can be for a new generation of drivers. This is a fully electric car designed to redefine urban mobility with CUPRA’s emotional and challenger DNA.”

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Flying Flea, the electric mobility brand from Royal Enfield, has launched its first motorcycle, the FF.C6 with prices starting INR 199,000 (ex-showroom) for the Battery-as-a-Service (BaaS) model and INR 279,000 (ex-showroom for purchasing it outright).

The e-motorcycle will be available from 10 April 2026 at the brand's first store in Jayanagar, Bengaluru with deliveries scheduled to begin at the end of May 2026.

The FF.C6 is a ground-up electric platform weighing 124 kg. It features a 3.91 kWh lithium-ion battery encased in magnesium alloy, providing a peak power of 15.4 kW. The motorcycle achieves a top speed of 115 kmph and delivers 60 Nm of motor torque, resulting in over 400 Nm of wheel torque.

It supports Rapid, Standard and Trickle charging using a 16 Amp wall outlet. The battery can be charged upto 80 percent from 20 percent in around a claimed 60 minutes. It comes with equipped with lean-angle sensing ABS, traction control and a tip-over alert. The FF.C6 has integrated WiFi, Bluetooth and 4G for remote monitoring, live location sharing and over-the-air (OTA) updates.

The design incorporates a forged aluminium Girder fork, a contemporary interpretation of the 1940s Flying Flea suspension. The motorcycle features a touchscreen TFT interface controlled by a rotary mode switch and joystick.

The software architecture allows the system to learn from rider behaviour, while a regenerative braking system recovers energy during deceleration to extend range. For versatility, the motorcycle includes a removable pillion setup and adjustable footpegs.

Royal Enfield is adopting a phased, city-by-city rollout for the Flying Flea brand. The FF.C6 is available in two colourways, Storm Black and Flea Green.

B Govindarajan, Managing Director, Eicher Motors and CEO, Royal Enfield, said, “We are excited to introduce the Flying Flea C6, marking our first step into electric motorcycling in our 125th year - a milestone that reflects both our legacy and our intent for new beginnings. For over a century, Royal Enfield has been driven by a singular pursuit: to create pure, engaging motorcycling experiences. With Flying Flea, we are carrying this philosophy into the electric era. This is not just about going electric- it is about creating a new category of urban mobility that is rooted in experience, not just specifications or numbers. The FF.C6 has been built by a dedicated team with deep in-house expertise across hardware and software, resulting in an agile, design and technology-led motorcycle that feels intuitive, connected, and alive to the rider.”

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Stryder Cycle, a Tata Enterprise and a trusted name in Indian cycling, has broadened its electric vehicle lineup by introducing two new e-bikes called Airborne and Arcus. These models are crafted for modern city life, blending smart technology, reliable performance and real-world usability to make ecofriendly travel more attainable.

As urban traffic worsens and awareness of sustainable transport grows, Stryder keeps pushing clean mobility solutions that are efficient, stylish and well suited for Indian roads. The Airborne model targets adventure seekers with rugged power and all terrain handling. It features a strong motor for smooth torque, a long lasting 10.4 Ah battery offering up to 35 kilometres of range and fast charging in about three hours. Extra wide four-inch tyres provide excellent grip, while a smart LCD display and multiple ride modes add to its confident, stable ride across different surfaces.

Meanwhile, the Arcus focuses on daily practicality and smart functionality. It comes with a 36V 11.6 Ah Quick Fix removable battery that delivers up to 60 kilometres of range. A five-inch LCD multicolour display includes integrated headlight control, and a 50-lumen front light pairs with a smart under seat rear light for better visibility. A dedicated mobile charging point adds on the go convenience, making Arcus a sleek and dependable companion for everyday commutes.

With electric mobility gaining speed across India, Stryder continues to grow its e-bike range to meet rising demand. Backed by the Tata legacy, the brand stays committed to dependable products that support cleaner transport. Through Airborne and Arcus, Stryder strengthens its promise of practical, everyday electric mobility built specifically for Indian riders and roads.

Rahul Gupta, Business Head, Stryder, said, “At Stryder, our focus is to make sustainable mobility both aspirational and practical. With Airborne and Arcus, we are introducing e-bikes that cater to evolving city lifestyles, whether it’s daily commuting, short errands or leisure rides. Backed by the trust of the TATA Group, we remain committed to delivering innovative and reliable mobility solutions to consumers across the country.”

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Bengaluru-based electric vehicle maker Ather Energy has announced the expansion of its retail network to 700 Experience Centres (ECs) across India. The company added more than 350 locations over the past year, doubling its footprint from 331 centres recorded on 31 March 2025.

The expansion of the retail network has contributed to an increase in Ather’s national market share, which reached 18.7 percent in March 2026, according to Vahan data. Growth has been attributed to the Ather Rizta, the company's family scooter, which has recorded sales of over 280,000 units since its launch. Demand also remains consistent for the Ather 450 performance series.

The company’s aggressive expansion focussed on middle and rest of India regions, with scaling up presence in tier-2 and tier-3 cities. Regional market shares increased by approximately 2X in targeted expansion areas.

To support the increased vehicle volume, Ather has expanded its service and charging infrastructure. It now operates over 500 authorised service centres nationwide and its fast charging network has reached 4,357 points.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “The last year has been about scaling our retail footprint as a key lever for growth. While we’ve increased our Experience Centre count across all geographies, the expansion in Middle India and to some degree in Rest of India has been particularly aggressive. This has allowed us to target new geographies and segments, which have led to strong volume and market share gains. We believe we still have headroom for growth, and will continue on this path over the next few quarters.”

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