- Clean Electric
- Nitin Gadkari
- Akash Gupta
- Ankit Joshi
- XFC
- Abhinav Roy
- Kalaari Capital
Clean Electric claims its XFC battery tech for EVs will allow complete charge in 12 minutes
- by MT Bureau
- June 18, 2024

Clean Electric, a startup working on XFC battery technology for electric vehicles, has unveiled what it claims is its revolutionary rapid recharging battery technology that can fully charge electric vehicles in under 12-minutes (claimed).
This groundbreaking advancement represents a major leap forward, with EV charging times ranging from 60 minutes to 120 minutes. Its proprietary battery technology uses universal CCS 2 DC charging standards, ensuring compatibility across all EV model form-factors, positioning it as a game-changer for the entire industry.
The fireproof batteries had been tested for 3700 rapid charge cycles with only 11 percent degradation in the overall range. The energy storage solution firm manufactures the batteries at its state-of-the-art manufacturing facility in Pune, the plant is well-equipped to produce up to 1,200 battery packs per month.
The groundbreaking technology by Clean Electric, is said to have been under development for 4-years and is backed by 4 granted patents both domestic and US. Its battery architectures had several industry-first technologies, such as direct contact liquid cooling (DCLC) for e-four-wheeler and large battery systems, self-contained adaptive active liquid cooling (SCALC) for e-two-wheelers and e-three-wheeler battery systems and DCLC with Integrated cell to pack (CTP) battery architecture, which will allow intrinsically safe batteries, mitigating thermal runaway risk, and enable RAPID Charging with higher packaging efficiency to boost EV range without added degradation.
The start-up is currently working with EV OEMs in e-car, e-two-wheeler, e-three-wheeler, e-LCV, and established startups to address major roadblocks to enable mass adoption. Some of the poignant issues include EVs catching fire, anxiety from long charging times (minimum 1 hour), and the limited range (200-300km) of current EVs.
Clean Electric recently held a live demonstration in Pune, showcasing a 2.2 kWh e-two-wheeler battery & 12.5 kWh e-three-wheeler, charging from 0-80 percent State of Charge (SOC) in just 10 minutes at a constant of 5C charge rate using BIS-approved Type 6, Bharat DC-001 and globally accepted CCS 2 DC public charger, making it the world’s fastest- charging production electric vehicle.
The start-up was founded by Akash Gupta, Abhinav Roy & Ankit Joshi in 2020 to develop, manufacture, and supply advanced energy storage solutions for EVs and grid applications. It has built advanced liquid-cooled battery solutions for two-, three-wheelers, e-cars and grid storage.
Ankit Joshi, Chief Product Officer, Clean Electric said, “This is a revolutionary moment for all of us at Clean Electric, our proprietary 12-minute charging technology sets a new global standard that will drive the EV industry forward. Committed to sustainability, we strive to democratize RAPID Charging for EVs coupled with long battery life, reducing environmental impact and shaping the future of electric vehicles. Clean Electric plans to introduce Gen 3 batteries next fiscal year, enabling affordable, high-energy density batteries to take rapid charging to the masses.”
Akash Gupta, Co-Founder, Clean Electric stated, “We support Transport Minister Nitin Gadkari’s audacious vision to stop the production of new fossil fuel based combustion engine vehicle by 2034, I firmly believe Clean Electric will be the strongest catalyst in the EV-ecosystem to enable shift to renewable energy powered electric vehicle, also we need to add ‘Design in India’ to the narrative of ‘Make in India’ and make India technology powerhouse globally for other country to follow India’s footsteps/ successful scalable models/ solutions to benefit human mankind.”
Clean Electric has raised seed funding of $2.2 million (INR 183.2 million) in October 2022 led by Kalaari Capital.
- JSW MG Motor India
- MG Windsor EV
- MG Windsor Pro
MG Windsor Pro With Higher Range & Updated Tech To Be Launched On May 6th
- by MT Bureau
- May 02, 2025

JSW MG Motor India is set to expand its EV portfolio with the MG Windsor Pro, which is set to be introduced on 6 May 2025.
The MG Windsor Pro is expected to offer a higher range, more features, improved safety and minor design tweaks. While technical details are yet to be released, it is safe to understand that the company is looking to further drive sales of its popular EV, targeting a new set of customers.
Launched on 11 September 2024, the company positioned the Windsor as a CUV (crossover utility vehicle) and the most comfortable EV in its segment.
The Windsor EV has already surpassed 20,000 units sales since launch, and has been the highest selling electric passenger vehicle for the last several months in a row.
- Wardwizard Innovations & Mobility
- Joy e-bike
- Joy e-rik
- Yatin Sanjay Gupte
Wardwizard Maintains Profitability in FY25 Despite Revenue Decline, PAT at INR 63.6 Million
- by MT Bureau
- May 01, 2025

Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility, the maker of ‘Joy e-bike’ and ‘Joy e-rik’ brand, has reported a consolidated net profit of INR 63.6 million for FY2025, maintaining profitability for the fifth consecutive year despite industry headwinds and a 5.1 percent drop in annual revenue.
The company’s total consolidated revenue stood at INR 3.04 billion, down from INR 3.2 billion last year. However, EBITDA rose 13.9 percent YoY to INR 3.6 billion, and EBITDA margins improved by 222 basis points to 12.11 percent, reflecting strong cost discipline and operational efficiency.
Despite a 52.7 percent YoY dip in PAT, largely due to a high base in FY2024, Wardwizard remained in the black – underscoring resilience amid a challenging EV market environment.
Yatin Sanjay Gupte, Chairman & MD, Wardwizard Innovations & Mobility, said, “While annual revenues saw a slight decline, EBITDA rose 14 percent YoY. Our profitable performance, sustained for five consecutive years, sets us apart and reinforces the strength of our strategy.”
In Q4 FY25 (Jan–Mar 2025), the company recorded a 62.2 percent YoY rise in PAT to INR 64.5 million, with EBITDA nearly doubling to INR 1.8 billion. PAT margins for the quarter expanded to 5.91 percent, and EBITDA margins reached 17.26 percent, reflecting improved product mix and cost optimisation.
During the last fiscal, the company deployed over 400 electric two-wheelers across major cities like Kolkata, Pune, and Ahmedabad as well as the launch of L5 electric rickshaws in Maharashtra. Ongoing partnerships and a USD 1.29 billion EV initiative in the Philippines are expected to drive future growth.
“With continued innovation and targeted execution, we are building a stronger foundation for long-term growth,” Gupte added.
- Ajay Dhiman
- OPG Mobility
- Okaya EV
- Subros
- Honda
- Renault
- Nissan
- Sonalika Group
- Anshul Gupta
OPG Mobility Appoints Ajay Dhiman As President, COO & CTO To Lead EV Business
- by MT Bureau
- May 01, 2025

OPG Mobility (formerly Okaya EV) has appointed Ajay Dhiman as the new President – Chief Operating Officer (COO) and Chief Technology Officer (CTO) to lead its electric vehicle and EV components business.
In this strategic leadership role, Dhiman will be responsible for operations and technology functions spanning manufacturing, R&D, product development, quality, sourcing, supply chain and business strategy.
He joins OPG Mobility with over 20 years of experience in the automotive and EV sectors. He previously served as Senior Vice-President at Revolt Motors, where he is said to play a key role across CXO-level functions and was instrumental in accelerating product development and delivering high-quality electric mobility solutions. His career includes leadership stints at Honda, Renault-Nissan, Subros and Sonalika Group, contributing across two-wheeler, three-wheeler, and four-wheeler segments.
Anshul Gupta, Managing Director, OPG Mobility, said, “We are delighted to have Ajay Dhiman join our leadership team at a pivotal moment in OPG Mobility's journey. As we step up our presence in the EV ecosystem, Ajay’s deep experience in product development and operations will be invaluable in scaling our EV and components business. His thorough knowledge of both legacy systems and new mobility technologies will drive value, innovation, and faster execution across our transformation journey.”
Ajay Dhiman, added, “It’s an honour to join OPG Mobility at such a transformative time. The brand’s vision of delivering inclusive and innovative electric mobility solutions aligns strongly with my passion for engineering excellence, innovative products and future-focused manufacturing. I look forward to working closely with the leadership and teams to strengthen our product pipeline, accelerate product innovation, strengthen our technological edge, enhance operational excellence, and scale solutions that support India’s evolving mobility needs. We aim to position OPG Mobility as a frontrunner in shaping India’s electric mobility revolution.”
- Maharashtra Electric Vehicle Policy 2025
- Devendra Fadnavis
- subsidies
- incentive
Maharashtra Government Announces INR 19 Billion EV Policy 2025 To Drive Green Vehicle Adoption
- by MT Bureau
- April 30, 2025

The Maharashtra government has given rolled out the Electric Vehicle Policy 2025 for a period of five years (till 2030) with an estimated outlay of INR 19.93 billion.
The forward-looking policy aims to not only incentivise purchase of electric vehicles, but also aims to boost adoption and real-world usage.
As per the policy, certain EVs plying on highways will be given a toll waiver, EV charging infrastructure strengthened with an ambition have charging facilities every 25km on the national highways.
Electric two-wheelers, three-wheelers, private four-wheelers, state transport corporation buses, private buses and transport undertaking under civic bodies will get concession of 10 percent on purchase of an EV on the original cost. For goods carrying three-wheelers, four-wheelers and electric tractors will be eligible to a concession of 15 percent.
The government has also waived off registration fee on EVs. Lastly, electric four-wheelers and buses will also get toll exemption on Mumbai-Pune Expressway, Atal Setu, Samruddhi Mahamarg, along with 50 percent concession on state and other national highways.
Devendra Fadnavis, Chief Minister of Maharashtra, said, "The state government has approved a new Electric Vehicle (EV) policy, under which passenger EVs will be given subsidies. EV manufacturing and their use should increase in the state."
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