iCreate (International Centre for Entrepreneurship and Technology), an innovation-based start-up incubator, announced the winners of the EVangelise ’22 on Wednesday. This was the second edition of EVangelise, an EV innovation challenge. iCreate states that the aim of EVangelise’22 has been to put India on the global EV innovation map by identifying clean, low cost, innovative technologies that solve the industry's critical problems. It took place over six months, during which start-ups and EV innovators from 23 states and UTs showcased their solutions for real-life challenges in the EV industry under three themes – vehicle traction, energy storage and vehicle infrastructure.

iCreate claims that upon technical evaluation, market relevance and implementation strategies, Gyrodrive Machineries, C Electric Automotive Drives and Fasmho Energy Systems were awarded the top three positions in the TRL>4 category, respectively. Cancrie, Vijigi Energy and INTAKT EV Hybrids bagged the top three positions in the TRL<4 category, respectively, states iCreate.

Commenting on the achievement, Eshan Dhar, CTO of Gyrodrive Machineries and the winner of EVangelise’ 22, said, “We are overwhelmed to be chosen as the winner of EVangelise’22. We believe that our innovation on magnet-free switched reluctance motors will be the future of the EV industry. This eliminates the need for rare earth materials that are detrimental to the environment and make India Atmanirbhar, as these motors can be manufactured domestically. I express my heartfelt gratitude to the iCreate team for mentoring us throughout the challenge and giving us a platform to showcase our innovation to some of the best minds in the industry. EVangelise’22 has proved to be a launchpad for aspiring entrepreneurs like us, and moving forward, we hope to work with the team at iCreate more closely to co-create solutions for the EV industry.”

Ratheesh Nair, CTO of C Electric Automotive Drives, the second-place winner of EVangelise’ 22, stated, “We are thrilled on being awarded the second position at EVangelise’22. Our innovation on indigenous electric drive components enables Indian electric vehicle makers to customise their motor controllers as per their requirements, while also reducing costs by 40 percent. EVanglise’22 has been instrumental in showcasing this to top industry leaders, and we have already received multiple orders. Advanced discussions with some more manufacturers are on.”

Six winners across two categories – TRL> 4 and TRL<4 – received cash prizes of INR one million, INR 0.75 million and INR 0.5 million, respectively. Six consolation prizes worth INR 0.3 million were also awarded, according to iCreate. The top three winners with TRL>4 also received INR 5 million as incubation support, subject to agreed terms and conditions to each to take their ideas to market.

Congratulating the winners, Avinash Punekar, CEO of iCreate, said, “Having completed two successful editions, EVangelise has grown to become India’s largest and most awaited EV innovation challenge for innovators and start-ups. The enthusiastic response received for EVangelise’22 from industry leaders, such as Dr Piyush Desai, Co-founder and Vice President, Turntide Technologies; Chintan Vaishnav, Mission Director, Atal Innovation Mission, Chair Startup 20 Engagement Group; and Srinivas Kudligi, GM, Aditya Auto Products And Engineering, highlights the potential of Indian innovators in solving pressing challenges for the global EV industry. We, at iCreate, are proud to partner with them in their journey and position India as a knowledge superpower in the EV space. I congratulate the winners of EVangelise’22 and look forward to working together to take their solutions to market.”

As per iCreate, EVangelise’22 has seen participation from 1,160 participants, including students, individual innovators, researchers and institutions, who have created promising solutions in the areas of battery safety and EV infrastructure. During the course of the bootcamp and the finale, innovators pitched directly to industry leaders and explored strategic partnerships. Industry leaders who supported, engaged and provided guidance to the innovators at the EV innovation challenge included BPCL, Mahindra Logistics, Tata Stryder, JOY ebike, Turntide Technologies and Rotomag to name a few, according to the start-up incubator.

iCreate claims that the finale also saw distinguished speakers share insights and learnings with the innovators. The speakers included Chetan Maini, Co-Founder of Sun Mobility; Dr Piyush Desai, Co-Founder of Turntide Technologies; Chintan Vaishnav, Mission Director, Atal Innovation Mission and Chair of the Startup 20 Engagement Group; and H K Mittal, Chairman, Startup India Seed Fund Committee.

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.

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.

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.”

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."