Digital lending platform Revfin has strengthened its management with the appointment of three senior executives as part of its FY2026 strategy, targeting INR 7.5 billion in disbursements and 5x growth over the past two years. The company also expects to cross INR 20 billion in cumulative disbursements since inception.

The new appointments include Abhinandan Narayan, Chief Business Officer – New Business, Monish Vohra, COO – Operations & Collections and Anirudh Gupta, Chief Finance & Strategy Officer. The appointments the company shared aligns with its focus on ‘People, Process, Profitability.’

Furthermore, Revfin has outlined its ambition to finance 24,000 EVs in FY2026. Till date, it claims to have financed over 85,000 EVs across 25 states, with 75 percent of borrowers from marginalised communities. Cumulatively, its driver partners have covered 1.6 billion electric miles and earned over USD 400 million.

In FY2025, the company grew its L5 EV loan book by 1,700 percent, supported by a partnership with Bajaj Auto and expanded collaborations with logistics firms. The L5 segment remains a key focus as a replacement for ICE vehicles in urban transport.

Sameer Aggarwal, Founder & CEO, Revfin, said, “The last financial year was a volatile one for the EV industry, but the excitement and energy within the sector remain undiminished. At Revfin, we are deeply convinced that intracity and small commercial vehicles must – and will – transition 100 percent to electric within the next three years. The opportunity is here and now. It’s time to set bold targets and pursue hypergrowth over the next two years. At this critical juncture, the right leadership becomes essential to realizing our ambitions. With the strong momentum we’ve already built, we’re confident the journey ahead will be even more rewarding. We’ve entered 2025 with a sharp focus on what truly matters: People, Processes, and Profitability. These latest leadership hires are a natural extension of that focus and our commitment to scale with purpose.”

Comments (0)

ADD COMMENT

Link Copied!

Hyroad Energy has entered into an agreement with Toyota Motor North America to deploy 40 hydrogen fuel cell Class 8 trucks in Southern California. The announcement took place at the ACT Expo, where the companies outlined a framework covering vehicles, software, and fuel supply.

As per the understanding, Hyroad will provide the trucks along with maintenance and data services for Toyota’s logistics operations. On the other hand, Toyota will supply the hydrogen fuel via its refuelling infrastructure currently being developed in Ontario, California.

The fuel cell trucks offer a claimed driving range of up to 500 miles (804km) and refuelling time of 15-20 minutes, comparable to diesel vehicles. However, the trucks emit only water vapour. Each Class 8 truck carries approximately 70 kg of hydrogen, equivalent to the capacity of 12 Toyota Mirai sedans.

Hyroad operates as an equipment-agnostic provider, bundling vehicle procurement, maintenance and fleet management software. In August 2025, the company acquired 117 hydrogen trucks and intellectual property assets from the Nikola Corporation bankruptcy auction. It now provides parts and support services for existing Nikola truck owners alongside its own fleet operations.

“Accelerating the hydrogen economy requires collaboration, and Toyota is proud to work with Hyroad to move the heavy-duty sector forward,” stated Toyota in a release.

Dmitry Serov, Founder & CEO, Hyroad Energy, said, “Toyota has done exactly what great allies do — they've brought genuine hydrogen expertise to the table and made thoughtful, strategic decisions. They're not waiting for someone else to build this ecosystem. They're investing in it directly, and that's what makes this meaningful. When fuelling, vehicles, software and operational commitment all come together, hydrogen trucking works."

Comments (0)

ADD COMMENT

Link Copied!

BYD has claimed the title of the United Kingdom’s leading electric vehicle brand for 2026, surpassing established rivals including Tesla, BMW, KIA and Volkswagen. Official figures show the Chinese automaker has registered 12,754 battery-electric cars since the start of the year. This achievement is particularly notable as BYD has simultaneously become the top choice among private EV buyers, a feat accomplished despite being excluded from the government’s official Electric Car Grant scheme.

The brand’s broader success extends to its plug‑in hybrid lineup, marketed under the DM‑i dual‑mode intelligent system. Combining fully electric and hybrid sales, BYD has delivered 26,396 new energy vehicles in the UK year‑to‑date, capturing a 9.5 percent share of the national market. Three DM‑i models are currently available – SEAL U, SEAL 6 and SEALION 5 – with the ATTO 2 and additional models scheduled to arrive soon. The overall UK EV market has expanded by 22 percent, reflecting rising consumer appetite for sustainable transport.

BYD DOLPHIN SURF

BYD SEAL

Bono Ge, Country Manager, BYD UK, said, “With fuel prices remaining high, more drivers are turning to electric vehicles as a smarter and more economical choice. We are delighted to see the UK EV market grow by 22 percent year-on-year, and even more proud that BYD has become the UK’s leading EV brand in a little over three years. At BYD, we are committed to delivering outstanding value through high-tech electric vehicles that combine innovation, quality and affordability. But our ambition goes beyond building great cars.

“We are also bringing advanced technologies that unlock the full value of electrification, including Vehicle-to-Grid solutions that can help customers optimise energy use and reduce costs. In parallel, BYD has been deploying home and utility-scale energy storage solutions to support a more efficient and affordable energy ecosystem. Looking ahead, we also plan to introduce our breakthrough FLASH Charging, capable of charging a vehicle from 10 percent to 97 percent in just nine minutes.”

Comments (0)

ADD COMMENT

Link Copied!

LICO Materials, a battery circularity company, has received an eligibility grant from the Ministry of Mines under the Incentive Scheme for Promotion of Critical Mineral Recycling. The scheme is a component of the National Critical Mineral Mission (NCMM).

The grant, issued via the Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC), identifies LICO as one of 58 companies selected to develop domestic mining capabilities in India.

LICO has committed an investment of INR 2.40 billion and qualifies for a 20 percent Capital Expenditure (CAPEX) subsidy. Additionally, the company will receive an Operational Expenditure (OPEX) subsidy linked to commercial sales through to FY2030–31. Selection for the scheme required proof of technical capability in chemical extraction; companies involved only in collection or shredding were excluded.

The project involves a brownfield expansion in KIADB, Karnataka. LICO plans to add 10,000 tonnes per annum (TPA) of material extraction capacity across two plants. While, one facility will focus on the mechanical shredding of battery packs, the second will handle the chemical extraction of minerals. The company aims to recover lithium, nickel and cobalt at 99 percent purity from end-of-life batteries featuring LFP, LCO and NMC chemistries.

The NCMM scheme has a national outlay of INR 15 billion and aims to increase India’s recycling capacity from 100,000 TPA to 400,000 TPA by 2030. This initiative is intended to reduce reliance on mineral supply chains from East Asia and improve industrial security.

Gaurav Dolwani, CEO, LICO Materials, said, “This recognition by the Ministry of Mines and NCMM is government's validation that what we are building in Karnataka is what India needs. We are not just recycling batteries but are producing battery-grade lithium, nickel & cobalt on Indian soil, from Indian waste batteries, for India's cell and battery manufacturers. This is critical when global mineral supply chains are fracturing along geopolitical lines. We are grateful for this recognition and committed to delivering on every milestone.”

Comments (0)

ADD COMMENT

Link Copied!

Japanese automotive luxury carmaker Lexus has released details of the TZ, a battery electric vehicle (BEV) and three-row SUV. The EV follows the theme ‘Discover Limitless’ and is based on a ‘Driving Lounge’ concept.

The interior features a movable panoramic roof and an audio system. For acoustics, the e-SUV uses sound directivity control to manage the cabin environment. Materials used in the construction include forged bamboo from Shikoku and recycled aluminium. The development of the TZ followed a philosophy focused on the core structure and ride quality.

The design features a spindle body and graphics to manage aerodynamics. According to Lexus, the model achieves aerodynamic performance levels for its SUV category as of May 2026. The vehicle includes a ‘Rear Comfort’ mode and ‘Interactive Manual Drive’ technology. Manufacturing processes for the model incorporate methods intended to manage environmental impact.

Takeshi Miyaura, Chief Engineer, Lexus International, said, “TZ was developed with the 'Driving Lounge' concept: a refined mobile space that brings smiles to the faces of drivers and families. To get there, the development team continually questioned and refined the vehicle's identity. We envisioned Lexus's target brand value – customers who value time and choose authenticity – and aimed to deliver a new Lexus experience through the TZ. Electrification (BEV) emerged as the method to realise these values because BEV it offers an ideal blend of driving enjoyment and driving evolution. In addition to the Lexus experience of ‘seeing,’ ‘riding,’ and ‘driving,’ we now offer the new value of ‘spending time’ inside the vehicle.”

Comments (0)

ADD COMMENT

Link Copied!