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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Aventon, a pioneer in electric mobility, has launched the Aventure Mid Drive (Aventure M) fat tyre electric bike, elevating adventure riding with rugged capability, cutting-edge technology and refined performance.

Designed to conquer any terrain, the Aventure M combines meticulously engineered frame geometry, an 80 mm suspension fork and 4-inch tyres for unstoppable exploration. At its core, the powerful A100 mid-drive motor delivers 250W (750W peak) and 100 Nm of torque, ensuring responsive acceleration and customisable performance via Ride Tune.

Innovative features like AutoShift – an electronic shifting system exclusive in this category – eliminate gear guesswork by automatically selecting the optimal ratio based on terrain, cadence and torque. For steep inclines, Uphill Start Assist detects slopes and boosts power instantly, while the 80 mm suspension fork and 50 mm travel suspension seat post guarantee comfort on rough trails.

The Aventon Control Unit (ACU) integrates advanced security and connectivity, including GPS tracking, geofencing and a wheel lock, alongside real-time ride metrics like torque and power output. Available in Basalt, Camouflage and Pacific colourways, the Aventure M e-bike is priced at USD 2,899 and shipping begins July 2025.

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Bengaluru-based electric vehicle maker Ather Energy is all set to host its Community Day on 30 August 2025.

This year Ather Energy’s theme, christened ‘Technology that works like magic’, will see the company showcase its new ‘EL’ scooter platform, launch next-generation fast chargers and unveil Ather Stack 7.0 its latest software stack.

The new scooter platform, the EV maker stated, is engineered to be versatile and cost-efficient, which will allow Ather to further expand its product lineup to tap into a wider range of customer base.

It is interesting to note, that the company hosted its last Ather Community Day on 6 April 2024, which saw the launch of the Ather Rizta e-scooter, Halo smart helmet and AtherStack 6.0.

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Pune-based electric two-wheeler and three-wheeler manufacturer Kinetic Green has announced its ambitious product portfolio expansion plan with the launch of three ‘Born Electric’ scooter models over the next 18 months.

The move the company shared follows the success of the E-Luna, reinforcing Kinetic Green's aggressive growth strategy in the rapidly evolving EV market.

The first new model, described as a premium, stylish and technologically advanced family scooter, is slated for release before the 2025 festive season. This electric scooter will feature retro aesthetics combined with modern technology, including a TFT display, advanced IoT capabilities and an intelligent digital platform developed in collaboration with Jio Things. The scooter will offer multiple battery options and fast-charging technology.

To elevate the design of its upcoming range, Kinetic Green has partnered with Italian design house Torino Design. This collaboration aims to create ‘ultra-futuristic’ scooters with a radical styling based on the ‘Born Electric’ design philosophy. These next-generation models are expected to hit the market next year, signalling a new direction in mobility design.

The company is employing a philosophy of ‘Thoughtful Engineering,’ which combines intelligent design, advanced connectivity and features focused on comfort, convenience, and safety.

Dr Sulajja Firodia Motwani, Founder and CEO, Kinetic Green, said, “We are truly excited about our upcoming range of Born-Electric scooters from the house of Kinetic Green. With over a decade of experience in the EV space, we have built deep expertise in electric mobility design and engineering, backed by robust EV R&D and strategic partnerships for fast charging, battery swapping and proprietary software-driven platform solutions. We are greatly enthused by the success of our E-Luna and e-scooters recently launched in India. Having sold over 80,000 E2W in this initial phase, created a strong manufacturing infrastructure and a network of 400 exclusive dealers for E2W in the country, we are ready to aggressively expand our E2W business. Now with our design alliance with Torino Design of Italy, a global leader in design and engineering, we aim to re-define electric scooters in the coming months. With foundation built on 'Thoughtful Engineering,' our upcoming scooters will sport a fresh and futuristic styling language, incorporating innovation and a purpose to offer a delightful ownership experience to our customers.”

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Vietnamese auto maker VinFast Auto India has signed a strategic agreement with BatX Energies, a battery recycling, rare metal recovery and end-of-life battery repurposing company.

The partnership will see BatX Energies provide comprehensive high-voltage (HV) battery recycling, material recovery and repurposing services for VinFast India’s factory and aftersales operations. The aim is to ensure efficient recovery and reintegration of critical materials such as lithium, cobalt and nickel into the battery production cycle. This approach supports resource circularity, reduces dependence on mining and significantly lowers environmental impact.

Going forward, the partners are also exploring second-life applications, urban mining, and strategic material recovery, supporting India and Vietnam in circular economy solutions. BatX will also ensure traceability of the raw materials and battery recycling.

Pham Sanh Chau, CEO, VinFast Asia, said, “This partnership with BatX Energies is a meaningful step toward building a sustainable, circular battery ecosystem in India. At VinFast, sustainability goes beyond vehicles – it’s about environmental responsibility across the entire lifecycle. By working with BatX, we aim to reduce resource dependency, support national priorities, and set a new benchmark for responsible innovation in electric mobility.”

Utkarsh Singh, CEO, BatX Energies, said, “Our partnership with VinFast reflects a shared belief in responsible innovation and resource circularity to strengthen the EV battery value chain. By enabling sustainable end-of-life solutions for EV batteries, we are building infrastructure that can grow with the industry and create lasting environmental impact.”

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