A global fintech company specialising in EV financing, Three Wheels United (TWU) has strengthened its operations in Delhi by deploying a fleet of 200 EV three-wheelers. The company has worked with autorickshaw drivers in the city to switch to EV three-wheelers with an aim to address the key impediments in the large-scale penetration of EV three-wheelers in India.
Developing a disruptive platform to finance light electric vehicles, TWU has been leveraging technology to provide the most comprehensive, affordable loans and rent-to-own options to India’s micro entrepreneurs so that they can easily switch to EV two and three-wheelers.
Cedrick Tandong, CEO and Co-Founder, TWU, said, “Over the last several years, the Delhi Government has introduced a number of initiatives to increase the adoption of EVs in the national capital. EVs accounted for 9 percent of all vehicle sales in Delhi between September and November 2021, roughly six times the national average. This shows that Delhi’s EV policy is among the most progressive EV policies in the country. We have received an overwhelming adoption in Delhi and we hope to continue on a similar trajectory over the next couple of years”
Present in 13 cities across India, TWU has over 50,000 drivers on its platform, offering them various products and services. The company has financed over 4000 autorickshaws resulting in the reduction of over 1,72,000-tonnes of CO2 emissions, and the generation of an extra USD 71 million in income for the drivers.
Battery Smart Completes 100 Million Battery Swaps In India
- By MT Bureau
- December 17, 2025
Delhi-NCR-based electric vehicle battery swapping organisation Battery Smart has announced that it has become the first company in India to complete 100 million battery swaps across its network for electric two- and three-wheelers.
The achievement comes five years after the company’s founding. Battery Smart claims it currently operates approximately 70 percent of the battery-swapping infrastructure in the country.
To mark the achievement, the company has launched an INR 100 million Driver Welfare Fund 2026, which is designed to provide insurance, financial protection and skill development for approximately 100,000 electric vehicle (EV) drivers. The fund also includes referral programmes, free swaps and community inclusion initiatives.
Pulkit Khurana and Siddharth Sikka, Co-Founders of Battery Smart, said, “Crossing 100 million swaps is a landmark for EV adoption in India, not just for us. It demonstrates the potential of battery swapping to make clean mobility accessible, affordable, and inclusive at scale. Each swap represents a choice, a driver choosing clean mobility over combustion, assurance over anxiety and improved uptime over long waiting hours. This achievement belongs to our community of drivers, battery swap station partners, OEM collaborators, investors, and policymakers who believed that battery swapping could succeed at scale in India.”
The company’s ecosystem includes over 5,000 women drivers and 250 women partners. Its technology utilises IoT-enabled batteries and real-time monitoring to enable predictive maintenance and minimize downtime for drivers in the gig economy.
“Looking ahead, the Driver Welfare Fund reinforces our commitment to the community that made this possible. As we continue to grow, we remain focused on strengthening India’s EV mobility backbone, powered by smarter IoT batteries, more efficient station operations, and robust safety systems. This milestone is just the beginning, and together, we are building the future of clean mobility for India,” added Sikka.
Going forward, Battery Smart intends to expand into 100 additional cities by 2026. The company’s roadmap involves deploying more swap stations and increasing daily swap capacity to meet demand from commercial operators. Planned investments include safety systems and IoT intelligence as the company continues to work with regulators and industry stakeholders.
Ola Electric Begins Mass Deliveries Of 4680 Bharat Cell Powered Vehicles
- By MT Bureau
- December 08, 2025
Ola Electric has announced the commencement of mass deliveries of its 4680 Bharat Cell-powered vehicles. The S1 Pro+ 5.2 kWh is the first product to be powered by the company’s indigenously manufactured 4680 Bharat Cell battery pack, which delivers more range, better performance and enhanced safety.
With its own battery packs in the vehicles, Ola Electric is now India's first company to fully own the battery pack and cell manufacturing process in-house.
The S1 Pro+ 5.2 kWh is powered by a 13 kW motor, offering acceleration of zero to 40 kmph in just 2.1 seconds. It comes with an impressive 320 km range (IDC with DIY mode).
The S1 Pro+ features four riding modes (Hyper, Sports, Normal and Eco) and also offers enhanced safety with category-first dual ABS and disk brakes in the front and rear. It also gets enhanced ergonomics and comfort, a two-tone seat with supportive foam, body-coloured mirrors, a die-cast aluminium grab handle, rim decals and an expanded colour palette comprising Passion Red, Porcelain White, Industrial Silver, Jet Black, Stellar Blue and Midnight Blue.
“The excitement for S1 Pro+ has been phenomenal. Deliveries are now in full swing, and customers are proudly riding India’s first scooters powered by our own 4680 Bharat Cell. This is a big moment, not just for Ola, but for India’s journey towards becoming a global EV hub. With the national rollout starting soon, we are now ready to take this breakthrough product and technology to every corner of the country,” an Ola Electric spokesperson said.
Trinseo Launches Fourth-Generation Binder For The Next Wave Of EV Batteries
- By MT Bureau
- December 03, 2025
CATL And Stellantis Begin Work On EUR 4.1 Billion Spanish Battery Plant
- By MT Bureau
- November 28, 2025
CATL and Stellantis broke ground on a EUR 4.1 billion battery plant in Figueruelas, Spain, on 26 November. The 50:50 joint venture will produce lithium-iron-phosphate battery cells and targets an annual production capacity of 50 GW/h.
The project, which is Spain’s largest battery factory, is backed by over EUR 300 million in EU funds, with production expected to start in late 2026.
According to unions, around 2,000 Chinese workers will help construct the site, a point of contention with local authorities and residents. Also, 3,000 Spanish staff are to be hired and trained later.
Spanish authorities and residents have voiced concerns about job opportunities for local workers and potential strain from the influx of foreign employees. CATL Vice President Meng Xiangfeng said earlier in November the company needed experienced technicians to build and fine-tune production lines, with plans to train local workers to take over operations gradually.
David Romeral, Director General of CAAR Aragon, a network of automotive businesses in the region, said: “We don’t know this technology, these components – we’ve never made them before. They’re years ahead of us. All we can do is watch and learn.”
The regional government is organising work permits for arriving workers while seeking to attract battery supply chain companies to Aragon. Some Chinese technicians and managers have already arrived, with several hundred more expected by year-end and nearly 2,000 by the end of next year.
CATL’s approach contrasts with its Hungarian site in Debrecen, where it hired mostly locals to build its European plant. However, a lack of local workers caused production to be delayed from late 2025 into mid-2026. The Figueruelas facility will serve as CATL’s third European manufacturing operation, alongside the Hungarian plant and one in Germany.
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