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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VE Commercial Vehicles Limited (VECV), a joint venture between the Volvo Group and Eicher Motors, has inked a Memorandum of Understanding (MoU) with Jio‑bp pulse to expand and streamline charging access for its electric commercial vehicle customers.

As part of the understanding, all Eicher Trucks and Buses’ EV customers will now get seamless access to Jio‑bp’s network of over 6,000 charging points across India.

Jio-bp, the fuel retail joint venture of Reliance Industries and bp, operates under the brand name of Jio-bp pulse in the electric mobility space, which has established itself as one of the largest and fastest growing EV charging networks in India.

The aim of the partnership is to accelerate the adoption of electric commercial vehicles and provide peace-of-mind to customers for charging network anxiety. Under the agreement, VECV has integrated public charging network discoverability directly on the My Eicher fleet management app, which provides CV customers seamless discovery on EV chargers around them.

Vinod Aggarwal, Managing Director and CEO, VECV, said, “The MoU with Jio‑bp pulse represents a major milestone in our journey to electrify trucking in India. By integrating Jio-bp pulse’s extensive charging network into our My Eicher app, we are resolving a critical barrier to electric fleet adoption by facilitating seamless access to high‑power chargers wherever our vehicles operate. The collaboration between VECV and Jio-bp pulse will accelerate the transition to zero‑emission logistics, ensuring our customers can confidently embrace electric mobility at scale.”

Sarthak Behuria, Chairman, Jio-bp, said, “Collaboration between Jio-bp and VECV represents a significant step forward in our vision to transform India’s mobility landscape. Electric mobility is a cornerstone of this transformation, and this partnership plays a pivotal role in electrifying the critical trucking sector and driving EV adoption among fleet operators. Every such alliance brings us closer to realizing the Government’s ambitious goal of widespread electric vehicle adoption across the country.”

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Hyundai Motor India (HMIL) is expanding its Creta Electric lineup with three new variants: the Creta Electric Excellence, the Creta Electric Executive Tech and the Creta Electric Executive (O).

This expansion aims to make electric vehicles more accessible to a wider audience by offering more choices and features. The new variants also address a key concern for EV owners by significantly increasing the driving range.

The Creta Electric will now be available with two battery pack options:

• A 42 kWh battery with a claimed driving range of 420 km.
• A 51.4 kWh battery with a claimed driving range of 510 km.

In addition, the Creta Electric is now equipped with wireless Apple CarPlay and Android Auto via a wired-to-wireless adapter. Additionally, higher-end trims will offer a dashcam and rear wireless charging.

The new variants also introduce specific features:

• The Excellence trim (42 kWh) comes with advanced driver-assistance systems (ADAS), a surround-view monitor, an electric driver and passenger seat and ventilated front seats.
• The Executive Tech trim (42 kWh) adds a voice-enabled panoramic sunroof and ventilated front seats.
• The Executive (O) trim (51.4 kWh) also features a voice-enabled panoramic sunroof.

Hyundai is also introducing two new colour options for the Creta Electric: Matte Black and Shadow Grey.

Tarun Garg, Whole-Time Director and Chief Operating Officer, Hyundai Motor India, said, “We are thrilled to elevate our commitment to innovation by advancing our electric offering, the Creta Electric. The launch of new variants and high driving range in the Creta Electric marks a bold step forward, capturing the spirit of today’s aspirational and new-age customers. Each variant has been meticulously designed to meet the evolving needs of modern customers. Further, the high driving range across both battery packs underscores our dedication to delivering an exceptional electric driving experience, seamlessly blending cutting-edge technology with convenience. As the festive season gains momentum, these new offerings empower families to embark on journeys that are not only meaningful and memorable, but also sustainable.”

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Euler Motors, a leading manufacturer of electric commercial vehicles, has signed an agreement with logistics company Pickkup.io to supply 200 electric four-wheeler cargo vehicles.

The new fleet of Storm T1500 vehicles will be used for intracity logistics and last-mile delivery services in the Delhi-NCR and Chandigarh Tricity regions.

This agreement marks the third phase of a growing partnership between the two companies. Pickkup.io has already integrated 25 Euler Motors EVs into its fleet, which it shared are successfully operating on the ground. The additional 200 vehicles will help Pickkup.io expand its capacity for existing clients and support new partnerships.

Ankush Sharma, Co-founder & CEO, Pickkup.io, said, “This marks the third delivery phase under our ongoing MoU with Euler. What sets them apart is their on-time services and openness to feedback. The service ecosystem they’ve built is solid, and we’re already in discussions to scale up with additional units in the future. This journey and its achievements are the result of joint efforts by everyone who has contributed in their own way – our driver partners, ground team, admin team, and operations team – each working with their fullest dedication to make our services seamless and our customer experience exceptional, all under the banner of Pickkup”

Vani Rikhy Mehra, VP – Sales and mobility, Euler Motors, added, “Our partnership with Pickkup.io reflects the growing trust in electric mobility as a sustainable and scalable solution for logistics. With this MoU for 200 Storm T1500 vehicles, we are strengthening our footprint in Delhi NCR as well as Chandigarh Tricity while supporting Pickkup.io’s mission to deliver efficient, reliable, and environmentally responsible logistics services. At Euler, we are committed to building products and a service ecosystem that empower businesses to transition smoothly to electric fleets, reduce emissions, and achieve long-term operational savings.”

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Hyundai Motor Company has released a new teaser for its upcoming Concept THREE, the first compact EV concept from its IONIQ sub-brand. Officially named ahead of its global premiere, the vehicle is scheduled for its debut at the IAA Mobility 2025 show in Munich this September.

The latest preview emphasises the concept's striking side profile, which exhibits a confident and energetic posture. This aesthetic is a direct application of Hyundai’s ‘Art of Steel’ design philosophy, an approach inspired by the dynamic properties of metal. The bodywork features fluidly sculpted surfaces, clean intersections, and sharp character lines that work in concert to create a visual impression of precision and forward motion. This distinctive silhouette introduces a new vehicle typology dubbed the ‘Aero Hatch,’ signalling a fresh and aerodynamic reinterpretation of the compact electric vehicle form.

Scheduled for a full reveal at the IAA Mobility show, which runs from 9 to 14 September, the Concept THREE represents a significant moment for Hyundai. The company's return to Europe’s largest mobility showcase after a four-year hiatus underscores its strategic focus on the European market and its ambition to assert leadership in the future of sustainable transportation. The event will serve as a platform for Hyundai to present its comprehensive vision for the next generation of EVs. The public will get an in-depth look at the concept at the IAA Open Space, with comprehensive technical specifications and further details expected to be announced during Hyundai’s official press conference on 9 September.

Simon Loasby, Senior Vice President and Head of Hyundai Design Centre, said, “Designing the Concept THREE was an opportunity for us to rethink the compact EV from the ground up. We defined the ‘Aero Hatch’ typology to craft a silhouette that captures a sense of flow and becomes a beautifully proportioned sculpture.”

Manuel Schoettle, exterior designer of Concept THREE, said, “The authenticity of the way we treated the steel fits perfectly. It just felt natural, making the Concept THREE extremely pure, and hopefully it will bring a smile to your face.”

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