Euler Motors, a leading manufacturer of electric commercial vehicles, has announced the successful closure of its Series C funding round, raising an additional INR 2 billion. The new investment round was led by existing investor Blume Venture and new investor Piramal Alternatives India Access Fund. 

Existing investors British International Investment, the UK’s development finance institution and also was part of the round which saw fresh infusion of funds. With this the company has raised INR 5.7 billion in total from investors in Series C.

In FY2024, Euler Motors sold 3,700 electric vehicles, while also expanding its presence from 5 to 22 cities in the country. The EV maker says it will utilise the fresh infusion of capital to further scale its all-India presence and servicing infrastructure and establish a presence in more than 40 cities by FY2025. In addition, the funds will be used for strategic initiatives aimed at driving product development, bringing new variants, enhancing technological capabilities, and accelerating R&D efforts.

Saurav Kumar, Founder & CEO, Euler Motors said, “We welcome the support of both existing and new investors. Our aim is to establish Euler Motors as India's No. 1 electric commercial vehicle brand with our powerful products and best-in-class services. Over the past 3 years, we've demonstrated impressive growth, gained the confidence of customers, and created a heightened demand for our products. This fresh capital injection, coupled with the trust of our investors, will propel us towards our goal of double-digit market share. With this momentum, we're ready to accelerate our growth trajectory and lead the transition to commercial EVs in India.”

Kalpesh Kikani, CEO, Piramal Alternatives said, “We are pleased to participate alongside other marquee investors in furthering Euler Motors’ leadership position within its target market segment. We remain enthused both by the wider EV category itself as well as our chosen sub segment in terms of last mile mobility within the commercial / logistics category and Euler Motor’s relative positioning on the back of its strong technology and R&D capability. This is also the first direct co-investment from the recently launched Piramal Alternatives India Access Fund (Fund of Funds); which enables investor access to a well-diversified portfolio of both best-in-class Funds as well as specially curated co investments across the high growth Indian private equity and late-stage venture capital space.”

Abhinav Sinha, MD and Head of Technology and Telecoms, British International Investment said, “We are pleased to continue our partnership with Euler Motors to drive forward the advancement of commercial cargo electric vehicles in India. This sector of commercial cargo transportation carries considerable significance, not only in terms of job creation but also in terms of reducing emissions and supporting India’s clean energy transition. As the UK’s DFI, it aligns seamlessly with our strategic objectives to foster sustainable, and inclusive economic growth.”

The EV maker says its HiLoad EV is India's most powerful electric cargo three-wheeler, which comes with a claimed 170km ARAI-certified range (Real Range 110-120km), and a payload capacity of 688 kg, along with a proprietary liquid-cooled battery, and an inbuilt fast charging feature.

With the latest round, Euler Motors has till now successfully raised INR 7.7 billion.

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Chennai-headquartered electric vehicle start-up Raptee.HV has become the first automaker in the state to receive INR 250 million from Tamil Nadu Industrial Development Corporation (TIDCO) under the Startup Investment Policy 2025.

The EV maker is amongst the two start-ups selected by the Tamil Nadu state as part of its plans to support high-potential companies focussing on deep tech and the advanced manufacturing ecosystem.

Dr TRB Rajaa, Minister for Industries, Investment Promotion & Commerce, government of Tamil Nadu, stated, “We will specifically focus on making strategic investments in deep-tech startups which need long-term capital to succeed.  Since 2024, we have been working to reimagine TIDCO’s role with an ambition to transform Tamil Nadu into a product nation. As part of that vision, we have repositioned TIDCO as a venture catalyst, building a structured venture investment framework that can support startups at critical stages of growth. This policy now enables TIDCO to invest up to INR 250 million in startups across sunrise sectors such as electric vehicles, aerospace and defence, renewable energy, semiconductors, medical electronics, artificial intelligence, blockchain, quantum computing, agro processing, technical textiles and speciality chemicals.”

The State Policy aims to ensure that Tamil Nadu’s most promising technology companies find patient capital, strategic support and scale opportunities.

It was just last month, Raptee.HV begin deliveries of the T30 electric motorcycle, which utilises high-voltage technology (HV-Tec), a platform typically found in electric cars, for its two-wheeler products.

The T30 is priced at INR 239,000 (ex-showroom) and comes with an 8-year battery warranty and a 3-year vehicle warranty.

With initial deliveries in Chennai, the company has announced plans to expand into Bengaluru in April 2026 with a showroom and service centre. By end-2026, it intends to establish operations in all South Indian state capitals and begin entry into Western India.

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U Power has completed operational testing and integration of the battery-swapping system for heavy-duty truck prototypes intended for the Thailand market.

The milestone follows the partnership established in December 2025 with Whale Logistics (Thailand) to deploy 1,000 units in the country with the production and delivery of the first batch of tractors scheduled for May 2026.

The project was developed by U Power in conjunction with SAIC Hongyan Automotive and UNEX EV. The prototypes underwent three months of road testing to evaluate technical systems. Following integration, the vehicles met design specifications for highway logistics transportation. The project uses the UOTTA battery-swapping solution, which allows for battery replacement within minutes.

The initiative is designed to support the adoption of battery-swapping in the road logistics sector. By using this model, vehicle operators can avoid investment in grid expansion and charging infrastructure. The system is intended to maintain operational efficiency levels comparable to fuel-powered trucks while addressing battery degradation. Thailand serves as a location in U Power’s growth plan for Southeast Asia.

U Power provides AI-integrated solutions that connect electric vehicles with energy infrastructure. The company’s technology focuses on the optimisation of mobility and grid performance through modular battery-swapping stations. The deployment of these 1,000 vehicles is intended to meet logistics demand and increase transport efficiency in the region.

Johnny Lee, Founder and Chief Executive Officer, U Power, said, "Completing full-condition road testing of our pilot vehicles confirms the reliability and efficiency of the UOTTA battery-swapping model. Via the partnership with Whale Logistics, we are set to deploy 1,000 vehicles in Thailand to meet high-frequency logistics demand and boost operational efficiency. Thailand is a strategic market in U Power's global growth plan. By pioneering battery-swapping solutions for taxis and heavy-duty trucks, we are strengthening our leadership in Southeast Asia and driving low-carbon commercial transportation, while laying the foundation for expansion across the region."

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Swedish electric performance car brand Polestar has published the full carbon footprint of the Polestar 5, reinforcing its commitment to climate transparency within the automotive sector. Since 2020, the manufacturer has provided comprehensive Life Cycle Assessments for all its models, with the Polestar 5 being the latest addition to this publicly available data. The company emphasises that scrutinising emissions from materials and production is essential for actively reducing the overall climate impact of vehicle manufacturing.

As the first original equipment manufacturer to disclose the carbon footprint for its entire lineup, Polestar offers consumers clear insight into the environmental cost of their vehicles. The Polestar 5 records a cradle-to-gate footprint of 23.8 tonnes of carbon dioxide equivalent, which encompasses emissions from raw material extraction through to the point of customer delivery.

A significant focus for emission reduction lies in material sourcing. Aluminium, a notably carbon-intensive component, has been targeted for improvement. In the Polestar 5, a portion of the aluminium is recycled, and the vast majority is sourced from smelters utilising renewable electricity. This strategic shift avoids substantial emissions compared to conventional methods.

Renewable energy extends beyond material supply to the production facilities themselves. The plants responsible for assembling the Polestar 5, along with those manufacturing its battery cells and related components, are powered by renewable electricity, thereby lowering the overall manufacturing emissions.

Further environmental gains are achieved through innovative interior materials. Natural fibre composites, developed with Bcomp, incorporate a flax-based fabric that reduces reliance on fossil-based substances and offers weight savings over traditional composites. Recycled content is prevalent throughout, including carpets made from reclaimed fishing nets and textiles from recycled PET. The design also facilitates future recycling, exemplified by the front luggage compartment’s mono-material PET construction. For those selecting leather, a chrome-free, ethically sourced option is available.

The Polestar 5 demonstrates that sustainability can coexist with high performance. The four-door grand tourer delivers substantial power and torque, achieves an estimated driving range up to 678 km (WLTP) and benefits from an 800-volt architecture enabling rapid DC charging (from 10 to 80 percent in 22 minutes).

Fredrika Klarén, Head of Sustainability, Polestar, said, “You cannot reduce what you don’t measure. Making the carbon footprint of a car visible helps focus the industry on where emissions occur, particularly in materials and manufacturing. That transparency is essential if we want to scale the low-carbon materials, renewable energy and circular solutions needed to reduce the climate impact of cars.”

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MG has introduced its latest model, the all-new MGS9 PHEV, marking the brand's entry into the seven-seat SUV market. This plug-in hybrid vehicle aims to blend spacious family practicality with efficient operating costs. Pricing for the new model starts at GBP 34,205 (approximately USD 45,956) and reaches up to GBP 36,945 (approximately USD 49,606) for top-tier versions.

The vehicle’s interior is designed for adaptability, featuring three rows of seating. When the rearmost seats are not required, they can be folded to unlock over 1,000 litres of cargo capacity, accommodating luggage, sports equipment or everyday family needs. Even when all seven seats are in use, the MGS9 retains a practical 332 litres of boot space.

Power is supplied by a familiar plug-in hybrid system, previously seen in the award-winning MG HS. It pairs a 1.5-litre turbocharged petrol engine with a substantial 24.7 kWh battery. This setup provides an electric-only driving range of up to 62 miles (approximately 99.78 km), a figure that should comfortably cover the average daily commute or routine school and shopping trips.

In keeping with the brand's reputation for value, the MGS9 comes generously equipped. Features include leather-style upholstery, a panoramic sunroof and tri-zone climate control. Adding to passenger comfort, the front seats are also ventilated and offer a massage function. Safety has been thoroughly addressed, with the model already securing a maximum five-star Euro NCAP rating. This achievement is supported by its robust high-strength steel construction and a comprehensive suite of up to 16 advanced driver assistance systems. The vehicle is currently available for ordering, with full specifications due to be released later this month as initial deliveries reach UK showrooms.

David Allison, Director of Product and Planning, MG UK, said, "The launch of the MGS9 PHEV represents a significant milestone for MG, marking our entry into the 7-seat SUV segment and further strengthening our position in the large SUV market. As a vehicle that is both longer and taller than the MG HS, the all-new MGS9 PHEV delivers enhanced presence and versatility, offering the flexibility of a third row to meet the evolving needs of modern families and lifestyle-driven customers. Combining an excellent electric range and strong efficiency with an elevated level of specification and refinement, the all-new MGS9 PHEV continues MG’s commitment to delivering accessible innovation and exceptional value within a highly competitive 7-seat SUV segment.”

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