The International Finance Corporation (IFC) has announced a USD 20 million equity investment in Transvolt Mobility (Transvolt) as part of a larger USD 50 million financing round.

This marks IFC's first equity investment in an electric vehicle platform globally. The investment aims to enhance urban transport access, scale EV production and strengthen India's electric mobility ecosystem.

Transvolt aims to deploy the funding towards expanding its electric fleet to 3,500 vehicles and create 8,200 jobs over the next five years. It also aims to deploy 8,000 electric heavy commercial vehicles, including buses and trucks, across India.

Dheeraj Jhawar, Director and Co-Founder, Transvolt Mobility, said, "We are delighted and honoured by the trust IFC has shown in our company to develop and deploy EV fleets across India. This investment strengthens our resolve to build a scalable, sustainable commercial EV platform. With IFC's support, we aim to accelerate the transition to sustainable transport and build inclusive solutions that are aligned with national and global sustainability goals."

Debasis Mohanty, CEO and Co-founder, Transvolt Mobility, added, "Transvolt is India's first integrated and OEM-agnostic EV platform that owns and operates electric buses and trucks for both government and private sector clients. The company is focused on delivering zero-emission mobility solutions aligned with global sustainable transportation goals."

Transvolt stated that India's push for clean mobility targets electrifying 800,000 buses, replacing 10 percent of diesel trucks with 400,000 electric trucks and achieving 18 percent electrification of small commercial vehicles by deploying 111,000 e-SCVs. This transition presents an opportunity to invest in scalable EV solutions and mobilise an estimated USD 200 billion to meet national targets.

Vikram Kumar, IFC's Regional Industry Director for Infrastructure and Natural Resources in Asia and the Pacific, said, "India's transition to sustainable transport hinges on scalable solutions and this investment leverages private sector innovation and technological advances to drive sustainable transportation. Transvolt has been a key partner of IFC, and through our collaboration, we aim to enhance market competitiveness in the sector by enabling the electrification of public and private fleets operated by municipalities and corporations, demonstrating the commercial viability of electric fleets, and expanding access to quality urban transport."

Imad N Fakhoury, IFC's Regional Director for South Asia, said, "Accelerating urban mobility and last-mile connectivity is critical to India's development goals. Our investment in Transvolt will drive the adoption of EVs, especially buses, as they remain the preferred and affordable mode of transportation across India. As IFC's first-ever equity investment in an EV platform, in the country and globally, it reinforces our commitment to India's EV roadmap, supports the country's transition goals, enables job creation, while contributing to long-term economic growth. IFC's private sector solutions such as e-mobility are key to World Bank Group's approach to support Government of India's urban transformation agenda."

Founded in FY2023, Transvolt is claimed to has deployed 500 e-HCVs across various segments, including municipal corporations, corporate employee transportation and haulage for cement manufacturers. It is an OEM-agnostic EV platform, collaborating with multiple OEMs and EV-charging partners to meet project requirements. The company has also established an ecosystem for EV-charging solutions through tie-ups with Charge Point Operators (CPOs) and O&M partners across India.

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GreenLine Mobility Solutions Ltd., an Essar venture and the sole Indian operator of LNG and electric-powered heavy commercial trucks for green logistics, has entered into a partnership with Dabur India Ltd., a major FMCG player. The agreement focuses on integrating LNG-powered trucks into Dabur’s logistics network to advance supply chain sustainability.

GreenLine will supply its LNG fleet to handle long-haul freight for Dabur, aiming to cut emissions significantly without compromising on performance or dependability. This move aligns with Dabur’s internal goals for a lower-carbon operational framework and reflects a wider corporate trend in India toward embracing cleaner transport alternatives.

Currently, GreenLine manages over 1,000 LNG and electric vehicles on key freight routes, serving diverse sectors such as steel, cement, mining, FMCG and chemicals. The fleet has surpassed 100 million kilometres in cumulative travel, resulting in more than 27,000 tonnes of CO₂ reductions for its clients, reinforcing the company’s role in reshaping India’s road freight landscape.

Charles Devlin D’Costa, Vice President – Sales, GreenLine Mobility Solutions Ltd, said, "We are pleased to partner with Dabur India, one of India's most respected consumer goods companies, as it adopts greener road transportation solutions. It is encouraging to see more leading Indian companies making low-emission logistics an integral part of their business strategy. Every such partnership strengthens the momentum towards cleaner freight mobility, bringing us a step closer to transforming India's road logistics ecosystem. At GreenLine, we remain committed to enabling businesses across sectors to accelerate the transition to lower-emission transportation."

Samrat Sehgal, Global Director of Supply Chain, Dabur India, said, "Reducing the environmental footprint of our supply chain is an important part of Dabur India's sustainability roadmap. Our partnership with GreenLine enables us to integrate lower-emission transportation into our logistics operations while maintaining efficiency and reliability. We believe collaborations like these will play a key role in building a more sustainable and future-ready supply chain."

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Euler Motors has announced a collaboration with Green Drive Mobility to deploy four-wheeler electric cargo vehicles across mid-mile and last-mile operations. The partnership has deployed approximately 50 units, with plans to reach 500 units during the financial year across Delhi, Bengaluru, Mumbai, Chennai and Hyderabad.

The deployment features Euler’s Storm LR and TURBO EV 1000 models, targeting a total of 1,000 electric cargo vehicles by 2028.

Vani Rikhy Mehra, VP – Sales, Euler Motors, said, “Our collaboration with Green Drive Mobility marks an important step in expanding the role of electric commercial vehicles in India’s logistics ecosystem. Green Drive Mobility is one of the country’s most respected multi-stack EV fleet operators, and we are pleased to support their growth journey with Euler’s purpose-built electric cargo vehicles. Their disciplined approach to fleet expansion and their diverse enterprise customer base align closely with Euler’s commitment to building products and a service ecosystem that enable fleet operators to transition to electric with confidence – improving uptime, lowering operating costs, and reducing emissions at scale.”

Sagar Subramani, COO, Green Drive Mobility, added, “Our collaboration with Euler Motors reinforces our strategy of building a reliable, scalable, and technology-led electric logistics platform powered by the best vehicles from leading OEMs. Euler’s products bring strong payload performance and proven reliability, and their API-led approach fits seamlessly into our operations. As demand for sustainable logistics continues to grow across sectors, this collaboration will help us deliver consistent uptime and operational efficiency to our enterprise customers, while accelerating the shift to zero-emission mobility across India.”

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Bengaluru-based electric two-wheeler maker Simple Energy is set to unveil its first family e-scooter on 2 September 2026, entering the country's mass-market segment.

The mass-market EV is set to follow the Simple One and the Simple Ultra models.

Simple Energy states that the in-house developed new model is part of its robust R&D capabilities spanning proprietary software, technologies and advanced engineering solutions.

The company is said to be the first Indian OEM to commercially manufacture heavy rare-earth-free electric motors.

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Billion Electric Mobility has announced a partnership with J K Cement to deploy over 150 heavy-duty electric trucks during the financial year. The project has commenced with the deployment of 20 electric trucks from J K Cement's Muddapur plant in Karnataka, transporting cement to stockyards in Karnataka, Maharashtra and Goa.

At present, Billion Electric provides an electric freight platform that includes vehicles, charging infrastructure, fleet operations and route management. ChargeZone's charging network supports operations across corridors in Karnataka, Maharashtra and Goa, with locations including Nipani, Satara, Pune, Karad, Ratnagiri, Sindhudurg, Goa, Hubli and Davanagere.

Sanjeev Kulkarni, CEO, Billion Electric Mobility, said, "The decarbonisation of India's freight sector will be driven by enterprises that are willing to lead from the front. J K Cement's commitment demonstrates that heavy-duty electric mobility is no longer a future aspiration but a commercially viable reality. Through Billion Electric's integrated eMaaS platform, supported by ChargeZone's expanding high-speed charging network, we are enabling businesses to transition to electric freight with confidence while building the infrastructure backbone needed to scale zero-emission logistics across the country."

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