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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Ohme has announced a new integration with Volkswagen Group Info Services AG, promising easier, smarter and more affordable home charging for electric vehicle drivers across six Volkswagen Group brands. The collaboration extends Ohme’s existing partnership with the Group in UK and Ireland, now offering a dedicated official application programming interface for all Ohme users.

This development allows EV owners to pair their vehicles directly with Ohme home chargers and access near real time readings of the car’s state of charge. Eligible models include those from Volkswagen, Volkswagen Commercial Vehicles, Škoda, SEAT, CUPRA and Audi, ensuring broad coverage across the Group’s portfolio.

Already, more than 100,000 Volkswagen Group customers throughout Europe rely on Ohme to manage home charging. With the new system, these drivers will see their vehicle’s battery status displayed directly in the Ohme app, removing guesswork from the charging process and providing enhanced clarity regarding energy consumption and associated costs.

Lasse Schmidt van Hülst, Lead Sales & Key Account Management, Volkswagen Group Info Services, said, “We’re excited that Ohme is applying Volkswagen Group Charging Data to enhance its charging services. As home electricity tariffs across Europe become smarter and more dynamic, Ohme’s expertise and software means this new integration with Volkswagen Group Info Services AG comes at the perfect time for EV drivers.”

Peter McDonald from Ohme said, “We’re genuinely proud to be extending our partnership with Volkswagen Group Info Services AG in this way. Having direct access to the vehicle state of charge data means our customers get a truly hassle-free charging experience – the app does the hard work, automatically finding the cheapest times to charge. It’s a real statement of where Ohme is heading and underlines its commitment to giving EV drivers the best possible experience.”

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ChargeZone and TATA.ev have launched a co-branded Mega Charging Hub on the Mumbai–Pune Expressway, featuring a total capacity of 720 kW. Located at the Khalapur food mall, the facility is designed to support high-speed intercity travel on one of India’s busiest highway corridors.

The hub is the 75th installation under a strategic partnership between ChargeZone and TATA.ev, which aims to deploy over 100 such hubs across the country’s national highways. The Khalapur hub is one of the most powerful public charging installations in India, engineered to minimise wait times during peak travel hours. The facility can charge up to 10 electric vehicles at once. It features five dispensers with 10 charging points. In Boost Mode, it can deliver up to 360 kW for ultra-fast charging.

This launch contributes to ChargeZone’s national footprint of over 15,000 charging points. By positioning the hub at the Khalapur Food Mall, the partners aim to integrate vehicle charging into the existing travel routine.

EV Users will get access to diverse dining options, restrooms and retail facilities while their vehicles charge. TATA.ev customers are eligible for a 25 percent discount on charging tariffs at this station. The hub is open to all EV owners, supporting a wider ecosystem under TATA.ev’s ‘Open Collaboration 2.0’ framework.

Kartikey Hariyani, Founder & CEO, ChargeZone, said, “Highway charging is the backbone of intercity electrification, and that backbone needs to be built at scale and built right. The launch of the Mega Charging hub at Khalapur marks a significant milestone in our journey to build a high-power, future-ready EV charging network across India. With a 720 kW capacity, this installation sets a new benchmark for public charging infrastructure in the country. Our focus is on enabling fast, reliable, and seamless intercity EV travel, and this partnership with Tata.ev is a strong step in that direction as we scale across strategic national corridors.”

Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility, added, “As leaders of India’s 4-wheeler electric revolution, at TATA.ev, we are striving to co-create a charging network that is fast, reliable, and accessible. With over 200 active TATA.ev Mega Charging Hubs live across the country, the launch of this new hub with ChargeZone at the Khalapur Food Mall – one of the most frequented pit-stops on the Mumbai–Pune Expressway – marks a key milestone in enabling seamless intercity travel for EV owners. We are confident that collaborations like these will play a defining role in making long-distance EV journeys dependable and convenient.”

The initiative is part of a broader mission by TATA.ev to introduce 500 Mega Charging Hubs and over 400,000 charging points by 2027. By focusing on high-speed corridors like the Mumbai–Pune Expressway, the collaboration seeks to eliminate range anxiety and accelerate the adoption of electric passenger vehicles in India.

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Pune-headquartered two-wheeler and three-wheeler major Bajaj Auto has announced a comprehensive overhaul of its Chetak electric scooter lineup, introducing a new ‘C Series’ nomenclature and integrating premium features like Google Maps as standard on its flagship models.

The portfolio is now categorised into three distinct tiers: C 35, C 30 and C 25, with the numbers corresponding to battery capacity (e.g., 3.5 kWh, 3.0 kWh and 2.5 kWh). This strategic move aims to simplify the range while elevating the technological standards of the ‘Fully Lifeproof’ brand.

Bajaj Auto has responded to consumer demand for higher speeds by increasing the top speed across the entire range. The C 35 Series top speed has increased from 73 kmph to 80 kmph, while motor output has also been bumped from 4.5 kW to 4.8 kW.

Similarly, C 30 Series top speed has increased from 63 kmph to 70 kmph. C 25 Series top speed increased from 55 kmph to 60 kmph.

Furthermore, the charging time on the C 30 01 sees a significant reduction in zero to 80 percent, which now takes 2 hours and 55 minutes as compared to approximately 4 hours earlier.

The highlight of the MY 2026 upgrade is the deep integration of navigation and software support. Based on user feedback, Bajaj Auto has integrated Google Maps for a more intuitive navigation experience.

Ride Modes (Sports and Eco) and Hill Hold Assist, which were previously part of the paid ‘TecPac’ add-on, are now standard across the C 35 and C 30 series.

The C 35 models now support Over-the-Air (OTA) updates, allowing for remote performance optimisations and feature additions without visiting a service centre.

Eric Vas, President, Urbanite Business at Bajaj Auto, said, "With the flagship C 35 01, we are delivering the full extent of these advancements — combining stronger performance, more intuitive connectivity through Google Maps, and the added convenience of riding modes and hill-hold now offered as built-in features."

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Hyundai Motor India Limited has introduced the updated IONIQ 5, featuring a larger battery pack and a suite of technological upgrades designed to extend the vehicle's driving range and functional capabilities.

The new Hyundai IONIQ 5 is priced at an ex-showroom rate of INR 5.57 million and is available in four colour options – Gravity Gold Matte, Midnight Black Pearl, Titan Grey and Optic White – all featuring an Obsidian Black interior theme.

The updated model is now equipped with an 84.0 kWh battery, providing an ARAI-certified range of 690 km on a single charge. This update focuses on reducing range anxiety for long-distance travel while maintaining the vehicle's position on the Electric-Global Modular Platform (E-GMP).

The updated IONIQ 5 introduces several first-time features for the model in the Indian market, including a Connected Car Navigation Cockpit (ccNC) and Controller Over-the-Air (C-OTA) updates, which allow for seamless software improvements. It now supports wireless Apple CarPlay and Android Auto.

A new in-car payment system enables users to pay for electric vehicle charging directly through the infotainment screen. The EV receives redesigned front and rear bumpers, a new rear spoiler and updated alloy wheels to enhance its aerodynamic profile.

On the inside, the cabin features a redesigned centre console with physical controls for ventilated seats and a revised wireless charging pad location for improved accessibility.

Hyundai has expanded the vehicle's safety suite with the addition of Parking Collision-Avoidance Assist – Rear (PCA-R) and Side Parking Distance Warning (PDW). These features complement the existing safety architecture to provide better protection during low-speed manoeuvres.

Tarun Garg, Managing Director & CEO, Hyundai Motor India, said, “With the introduction of the new Hyundai IONIQ 5, we are building on this strong foundation by offering meaningful product upgrades that enhance driving range, technology and everyday convenience. These enhancements further strengthen the IONIQ 5’s appeal as a premium, future ready electric SUV.”

The vehicle continues to support ultra-fast charging capabilities, consistent with its E-GMP architecture, aimed at the premium electric SUV segment in India.

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