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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Raptee.HV has officially launched its operations in Bengaluru, marking the first major expansion for the Chennai-based electric motorcycle manufacturer beyond its home territory. The move positions the company’s advanced vehicular technology and rider-first service framework within one of India’s most dynamic automotive markets, signalling the beginning of a phased national rollout.

The company’s technological foundation rests on HV-TEC, a proprietary platform developed over half a decade to embed electric car engineering principles into motorcycle design. With over 200 patents safeguarding its innovations, the system integrates battery architecture, power management, software ecosystems and onboard intelligence. Every element has been engineered to tackle persistent rider issues such as charging infrastructure dependency, power delivery, durability and post-purchase assurance.

As part of the Bengaluru entry, a dedicated experience hub has been established where enthusiasts can engage with the T30 model through hands-on demonstrations and trial rides while also accessing comprehensive after-sales infrastructure. The T30 distinguishes itself through CCS2 charger compatibility, which unlocks a network of more than 30,000 public charging stations across the country, supplemented by efficient home-charging options that simplify both urban commutes and highway journeys.

Retailing at INR 239,000 before registration, the T30 offers a practical 150-kilometre range on a single charge and sprints from standstill to 60 kilometres per hour in less than 3.5 seconds. Ownership is reinforced by an eight-year or 80,000-kilometre battery warranty, a three-year vehicle guarantee and perpetual customer assistance including roadside support. Having already commenced deliveries in Chennai earlier this year, Raptee.HV now views Bengaluru as a critical bridgehead for its wider Indian expansion, with additional metropolitan centres slated for future entry.

Dinesh Arjun, CEO & Co-Founder, Raptee.HV, said, "Bengaluru is a city that appreciates meaningful innovation, making it the perfect place for our first expansion. At Raptee.HV, we've always believed that technology is only as good as the experience it creates for customers. That's why every decision we've made from our Electric Car DNA platform to our dedicated customer support and Roadside Assistance has been guided by one objective: giving riders complete confidence at every stage of their ownership journey.”

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JSW MG Motor India has introduced MG ADAPT (Advance Drive Architecture Platform Technology), an indigenous multi-energy vehicle platform designed to unify multiple propulsion systems within a single intelligent architecture. Marketed as the country’s first such modular framework, MG ADAPT supports Electric Vehicles (EVs), Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs) and Range Extender Electric Vehicles (REEVs). This strategic move underscores the automaker’s dedication to advancing new energy mobility solutions across the subcontinent.

Engineered as a future-ready foundation, MG ADAPT prioritises design flexibility to accelerate product development cycles while enhancing driving range, fast-charging capabilities and overall efficiency. The platform’s modular nature allows for the seamless integration of various electrified powertrains, aiming to deliver improved safety, superior performance and refined drivability. By consolidating these technologies, JSW MG Motor India seeks to establish a new industry benchmark in vehicle versatility.

Central to the platform is an integrated technology ecosystem tailored specifically for hybrid applications, featuring a dedicated hybrid engine and a purpose-built battery system that ensures instant electric response and heightened safety. A compact 10-in-1 intelligent electric drive unit reduces system complexity, while an electromagnetic dedicated hybrid transmission facilitates smooth power delivery and rapid response. These components collectively contribute to operational excellence and driving comfort.

An intelligent energy management system orchestrates these elements by continuously assessing driving conditions to select the most efficient operating strategy. Drivers benefit from four distinct modes, including pure electric for urban environments, series hybrid where the engine generates electricity, parallel hybrid for combined motor and engine power and engine direct drive optimised for highway cruising. This adaptive approach maximises efficiency across varied terrains and usage patterns.

The architecture also incorporates range extender technology, wherein the electric motor permanently drives the wheels while a petrol engine acts exclusively as a generator to replenish the battery when needed. This configuration preserves an electric-first driving sensation while substantially increasing overall range, thereby alleviating range anxiety for long-distance travel. MG ADAPT ultimately reinforces the company’s vision for sustainable, flexible mobility in India’s rapidly transforming automotive landscape.

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, "At JSW MG Motor India, we believe the future of mobility lies in giving customers the freedom to choose the energy solution that best suits their lifestyle, without compromising on performance, efficiency or driving experience. MG ADAPT marks a defining milestone in our New Energy Vehicle journey and reflects our commitment to bringing globally advanced technologies that are relevant to the evolving needs of Indian customers.

“Designed as a highly flexible technology platform, MG ADAPT brings together multiple energy solutions on a single intelligent architecture, enabling us to deliver vehicles that are more efficient, more adaptable and engineered for the future. As we continue to expand our New Energy Vehicle portfolio, this platform will serve as the technological backbone of our future products and reinforce our commitment to accelerating sustainable mobility in India."

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Kia India has officially introduced the Syros EV, marking its second mass-market electric vehicle offering in the country. The automaker has simultaneously initiated pre-bookings for the new model, requiring a nominal reservation amount of INR 25,000. These bookings are being accepted through the company’s official website and across its network of dealerships nationwide, signalling the brand's aggressive push into the growing electric mobility segment.

The core of the Syros EV’s proposition lies in its comprehensive ownership package, designed to tackle the primary apprehensions that typically deter buyers from transitioning to electric vehicles. The vehicle boasts a best-in-segment ARAI-certified range of 526 kilometres for the larger battery variant. To further bolster consumer confidence, Kia is offering a lifetime high-voltage battery warranty, an assured buyback programme to protect residual value, and a flexible Battery-as-a-Service financing option. These initiatives collectively address longstanding concerns regarding battery longevity, resale value and the initial purchase cost.

Underpinning its performance credentials, the Syros EV is built on Kia’s reinforced K1 platform and is available with two advanced Nickel Manganese Cobalt battery packs. The larger 51.4 kWh unit delivers a peak power output of 171 PS, enabling the vehicle to accelerate from 0 to 100 kilometres per hour in a brisk 8.1 seconds. The alternative 42 kWh battery provides a range of 443 kilometres. Both units feature an IP67 certification and a liquid-cooled thermal management system, ensuring performance and safety across diverse Indian climatic conditions.

The Syros EV is distinguished by a suite of exclusive technologies aimed at enhancing the driving experience. These include paddle shifters for regenerative braking with an auto mode and i-Pedal functionality, alongside a vehicle-to-load internal system. The charging ecosystem is further strengthened by the K-Charge platform, which integrates over 20,300 charging points from 23 operators into a single interface on the MyKia app. This network is supported by more than 129 Kia dealerships equipped with high-capacity DC fast chargers and over 275 EV-ready workshops, ensuring comprehensive service support.

The exterior design adheres to Kia’s global electric vehicle philosophy, featuring a distinctive Digital Tiger Face and Star Map LED lighting elements. The interior is dominated by a first-in-segment thirty-inch Trinity Panoramic Display Panel, which merges the instrument cluster, infotainment and climate control interfaces. The cabin emphasises comfort with features like ventilated seats, a dual-pane panoramic sunroof and a 60:40 split rear seat with slide and recline functions, alongside practical additions such as a 16-litre frunk and multiple USB charging ports.

Safety is a paramount consideration, with the Syros EV equipped with Level 2 Advanced Driver Assistance Systems, encompassing 16 autonomous functions including collision avoidance and smart cruise control. These are complemented by 25 standard safety features, including six airbags, electronic stability control and a 360-degree camera for enhanced manoeuvrability. The model will be offered in seven trims across two battery options, with a choice of nine exterior colours and multiple interior themes, including an exclusive Onyx Black and Hunter Green option for the X-Line variant.

Gwanggu Lee, Managing Director and CEO, Kia India, said, “Our philosophy of 'Movement that Inspires' is about making future mobility meaningful, accessible and enriching for our customers. With the Syros EV, our second mass-market electric vehicle for India, we are democratising advanced electric mobility – not only through cutting-edge technology but by removing the anxieties that hold customers back. The Syros EV delivers a best-in-segment ARAI-certified range of 526 km – the first in its segment to cross the 500-km mark. Paired with a best-in-segment power output of 171 PS, it gives customers the confidence to go further without compromising on performance. Backed by a simplified and effortless ownership experience, including a Lifetime Battery Warranty, Assured Buyback and BaaS, we are addressing what matters most to Indian families, bringing them a decisive step closer to going electric.”

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Bengaluru-based electric mobility startup E3 Electric.Ai has raised INR 1 billion in a Series A funding round led by BluVenture Holdings. The company intends to use the capital to support product development and expand its presence across India ahead of the launch of its E3 TRION scooter.

The start-up focuses on integrating artificial intelligence (AI) into electric scooters to manage safety, reliability and charging. Its platform utilises modular architecture to produce variants from a single chassis and incorporates AI for maintenance and routing.

E3 Electric.Ai maintains an R&D team and holds a portfolio of over 18 patents in modular architecture, battery systems and safety. The company positions its scooters as an alternative to the 110cc internal combustion engine segment.

P Sanjeev, Founder & CEO, E3 Electric.Ai, said, "At E3, we believe electric vehicles should predict, learn and continuously improve, making mobility safer, more reliable and affordable over time. E3’s DNA is defined by 3 words, Modular + AI + Human. Our Modular platform enables us to build multiple scooter variants from the same chassis. E3’s patented AI stack enables preventive maintenance check and smart routing to address range anxiety. E3 TRION is crafted with care and introduces best in class anthropometry-based ergonomics for a very comfortable ride. This investment enables us to accelerate our vision of making intelligent mobility accessible to millions of Indian families."

Shaun Dawson, LP with BluVenture Holdings, said, "As the world’s largest two-wheeler market, India is at an inflection point in its EV transition journey. E3 has built an impressive technology platform combining modular engineering with software-led intelligence that is tailor-made for electric scooters. Sanjeev’s deep expertise enabled E3 to build a profitable, sustainably scalable operating model instead of the industry's typical heavy-burn approach. E3 is smartly leveraging AI to track performance and health parameters, delivering predictive maintenance & value. We see the opportunity to build a category-defining company."

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