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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Greaves Electric Mobility (GEML) has been recognised by the Asia Book of Records as the first electric two-wheeler brand to ascend Kolli Hills in Tamil Nadu. The route consists of 70 hairpin bends and is utilised as a testing ground for vehicle endurance and gradient performance.

The record attempt took place on 7 January 2026 with the Ampere Nexus e-scooter completing the ascent from Belukurichi to the summit in 22 minutes and 10 seconds. Asia Book of Records officials validated the achievement on the same day.

The ascent was used to validate the company's engineering for diverse riding conditions, including steep gradients and sustained load cycles.

• Battery Technology: Utilises LFP (Lithium Iron Phosphate) chemistry, designed to operate in temperatures ranging from –40deg C to 60deg C.
• Chassis: Constructed from high-tensile steel with a dual-frame design for balance during continuous cornering.
• Powertrain: Features a motor tuned for instant torque on climbs and regenerative braking for descents.
• Software: Includes traction control systems to manage slippery surfaces.

Greaves Electric Mobility currently operates in India and Nepal, with an emerging presence in Sri Lanka, the Philippines, and Africa. The company stated that the Kolli Hills milestone demonstrates the capability of electric two-wheelers to perform beyond urban environments.

Vikas Singh, Managing Director, Greaves Electric Mobility, said, “India’s riding conditions are among the most demanding in the world, and our approach has always been to engineer electric vehicles that are built for Bharat, not just for ideal test environments. The Kolli Hills ascent is a real-world validation of that philosophy. The Ampere Nexus combines safe and durable LFP battery technology with a robust dual-frame chassis that is designed to handle steep gradients, repeated cornering, and sustained load conditions. Achievements like this reaffirm our focus on building electric mobility solutions that can perform reliably across tough terrains.”

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Omega Seiki Mobility (OSM) has launched its first high-speed electric two-wheeler, the OSM Vextra, at INR 99,900. The e-scooter marks the company’s transition from commercial electric vehicles into the personal urban mobility sector.

The company stated that Vextra is designed for daily commuting and professional use, featuring a top speed of 70 kmph and a claimed real-world range of over 110 km. OSM will utilise its network of more than 200 dealerships to distribute the vehicle across Tier I, II and III cities in India.

The e-scooter is powered by a 3 kW BLDC hub motor and a 3.45 kWh IP67-rated LMFP battery. It offers a gradeability of 12 degrees, allowing for performance on inclines and flyovers. The company claims a zero to 80 percent charge in 4 hours and a full-charge in 5 hours. It features a 3.5-inch colour LCD instrument cluster that displays battery charge and distance to empty data.

The OSM Vextra is manufactured at the company’s facility in Faridabad, which has an annual production capacity of 25,000 units. In addition to domestic sales, OSM plans to export the model to African markets. The company has also indicated plans to develop an electric motorcycle specifically for the Middle East and Africa.

Dr Uday Narang, Founder & Chairman, Omega Seiki Mobility, said, “At Omega Seiki Mobility, our goal has always been to democratise clean mobility with products that are practical, reliable and future-ready. With the launch of OSM Vextra, we are entering the fast-speed two-wheeler segment with a vehicle that balances performance, range, and affordability. Vextra reflects our commitment to build technology-led electric vehicles for everyday India – not just for metros, but for Tier 2 and Tier 3 cities where efficient mobility can truly transform lives and livelihoods.”

Gaurav Kumar, Vice-President of Strategy and Operations (2 Wheeler Business), Omega Seiki Mobility, added, “OSM Vextra represents our vision for the future of everyday mobility in India. It has been designed around how people really live, work, and move in our cities. By blending intelligent technology, refined comfort, and sustainable efficiency into one platform, we want to create an electric riding experience that feels effortless, dependable, and inspiring for the next generation of urban commuters and professionals.”

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Swedish electric performance car brand Polestar is significantly enhancing the public charging experience for its European drivers through a series of integrated services. Central to this effort is the Polestar Charge app, which now provides streamlined access to an extensive network of more than one million charging points, positioning it as one of the continent's most comprehensive systems. A key feature simplifying this process is Plug & Charge technology, which automates authentication and payment when connecting to compatible stations, offering a seamless experience at nearly a thousand locations in the UK alone.

Further expanding convenience, Polestar has become an early adopter in fully incorporating Tesla Superchargers directly into its own app and vehicle systems. This integration allows drivers to locate, access and utilise over 20,000 Superchargers across Europe without needing separate applications. Real-time availability for these stations is displayed within the car’s native Google Maps navigation, aiding in efficient route and charging stop planning.

The network itself combines major cross-border operators like IONITY, Fastned and Total with regional providers, ensuring wide coverage. For users seeking added value, a subscription option offers reduced rates at more than 80,000 fast-charging points from dozens of operators. The service's popularity is reflected in its rapidly growing user base, which saw a 30 percent rise to over 45,000 users by 2025. Together, these developments create a cohesive and user-focused charging ecosystem for Polestar owners.

Olivier Loedel, Head – Product Software Management, Polestar, said, “With Polestar Charge, we give our customers access to one of the biggest charging networks in Europe. By expanding Plug & Charge and fully integrating Tesla Superchargers, we’re improving our premium seamless charging experience even further. Our strong charging offer, integrated with the in-car navigation in Google Maps, sets us apart from many competitors.”

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BYD, the world’s leading New Energy Vehicle (NEV) maker, has become the Official Car Partner of the Glasgow 2026 Commonwealth Games. The event, running from 23 July to 2 August 2026, will see 3,000 athletes from 74 nations compete across 10 sports and six Para sports at four venues in the city. For the occasion, BYD will supply a fleet of 90 vehicles to facilitate operations and transport athletes and personnel along the vast competition corridor.

The partnership was announced with the participation of BYD UK's Deputy Country Manager Steve Beattie and Glasgow 2026's Chief Operating Officer Jade Gallagher. They were joined by local swimmer Katie Shanahan, who is set to compete for Team Scotland. BYD will also serve as an Official Partner for the Scottish host nation team, supporting home athletes like Shanahan as they pursue medals.

This collaboration underscores BYD's significant role in the UK's shift towards electric mobility. The company's international prominence is reflected in its domestic sales, having captured a 12.01 percent market share of the fully electric and plug-in hybrid vehicle market through 2025, establishing it as the country's top New Energy Vehicle manufacturer.

Steve Beattie, Deputy Country Manager, BYD UK, said, “BYD is hugely proud to become the Official Car Partner of the Glasgow 2026 Commonwealth Games. With the city’s organisers creating a highly sustainable model for running the Games, I believe BYD’s technology-led approach to reducing emissions makes this agreement the perfect fit for both sides.”

Jade Gallagher, Chief Operating Officer, Glasgow 2026, said, “One of our biggest ambitions for Glasgow 2026 is to be the most environmentally sustainable Commonwealth Games, setting new standards for best practice by using existing venues, reducing waste and carbon emissions. We can’t achieve that without a partner like BYD who have a global reputation for their innovation in new energy vehicles.”

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