Bengaluru-based full-stack EV ecosystem startup Vidyut has partnered with JSW MG Motor India to finance its newly launched Battery-as-a-service (BaaS) models for the - MG Comet EV, MG Windsor EV, and MG ZS EV.

Under the BaaS program, customers will have to pay a minimum rental fee starting at INR 2.5 per kilometre as per the battery usage. This initiative will enable EV owners to pay for the battery on rent, helping them to reduce the running cost by 40 percent as compared to traditional ICE vehicles.

Unlike ICE vehicles, which incur ongoing fuel costs, Battery-as-a-service (BaaS) model enables customers to pay solely for the vehicle (minus battery), significantly reduces the initial acquisition cost of the EV. Post the completion of the financing tenure of the vehicle (minus battery) after 3-5 years depending on the vehicle model, Vidyut will also offer its customers an option to either continue with the battery rental program or buy it out. The vehicle owners can also opt out of the program at any point of time by paying the residual value of the battery.

Xitij Kothi, Co-Founder, Vidyut shared, “People think of battery as an asset, but we think battery as a fuel. So why should you pay for it when the vehicle is not on the road? This very question inspired us to introduce Battery-as-a-Service (BaaS) into the EV ecosystem. Since its inception in 2021, Vidyut has made significant strides in pioneering this financing model for commercial applications. And now we are excited to extend that same level of innovation to personal four-wheeler vehicles with JSW MG Motor India. Our goal is to make EV ownership not just accessible but also cost-efficient for everyone, empowering individuals to embrace sustainable mobility without the financial burden that traditionally accompanies it.”

Gaurav Gupta, Chief Growth Officer, JSW MG Motor India said, “As a young startup, we appreciate Vidyut’s approach towards this unique and industry-first ownership program to make passenger EVs more accessible and further boost EV adoption in India. And we are delighted to partner with Vidyut, as one of our financing partners, to introduce BaaS, to address the barrier of incremental upfront cost of owning an EV and reducing the overall running cost significantly. With this innovative program, we are confident that this model will incentivize more potential EV buyers enabling them to upgrade to an EV lifestyle.

Additionally, MG EV customers can also avail the assured 60 percent buyback value after three years of ownership, reassuring a seamless and confident ownership experience.”

Recently, Vidyut also forayed into sale and financing of pre-owned EVs to support the resale of three-wheeler commercial EVs in Delhi-NCR, Bengaluru, and Hyderabad. The startup currently operates in more than 30 cities in India with OEM partners such as Tata Motors, Mahindra & Mahindra, Euler Motors, Piaggio, Greaves Cotton, Murugappa Group's Montra Electric, and Altigreen.

Till now, Vidyut has raised a total of $14 million (INR 1.1 billion) led by 3one4 Capital with participation from new and existing investors namely, Saison Capital, Zephyr Peacock, Force Ventures, a venture debt fund Alteria Capital and Udaan’s co-founder, Sujeet Kumar.

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Delhi-NCR-based electric vehicle maker Euler Motors has entered the electric three-wheeler passenger category with the 'Neo by Euler' brand.

The company introduced the first vehicle under this brand, the Neo HiRANGE electric three-wheeler, with an introductory price of INR 309,999. The vehicle is designed for last-mile passenger transport in cities.

The vehicles under the 'Neo by Euler' brand will serve a range of customers, including new EV buyers, drivers for ride-hailing services, fleet operators and self-employed owners. Euler Motors plans to roll out these vehicles across 50 Indian cities over the next three to four months.

Euler Motors states that autorickshaws are a vital part of urban transport in India. Its new EV, the Neo HiRANGE, addresses the need for reliable, long-range and durable vehicles in this sector. The company's two years of research and development, which included conversations with over 10,000 auto-rickshaw drivers, shaped the vehicle's design. The Neo HiRANGE is built for Indian roads, with a rugged chassis and real-time diagnostics.

The vehicle comes in three variants: Neo HiRANGE Maxx, HiRANGE Plus and HiRANGE. The top variant offers a range of over 200 km on a single charge and can be charged in 3.25 hours. It has a skateboard chassis, 65 Nm of torque and hill-assist for stable performance. The vehicle includes a warranty of up to six years or 175,000 km and an anti-theft GPS system.

Saurav Kumar, Founder and CEO, Euler Motors, said, "We are excited to enter the commercial passenger EV segment. 'NEO by Euler' reflects our proven leadership in the commercial EV market. It is the result of deep product learning and on ground engagement with auto drivers across Indian cities. We heard firsthand challenges faced by drivers every day, from long fuel queues and unreliable maintenance to passenger discomfort, and low savings. These insights have shaped every aspect of the brand. Drivers want a solution that offers the highest range in a single charge, supports their livelihood, and gives them the confidence to keep moving. 'Neo by Euler' is our response to those needs; a no-compromise brand built for the realities of commercial passenger mobility in India offering best in class passenger comfort, consistent earning to drivers and overall safe solution."

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Bengaluru-headquartered electric vehicle company Ola Electric has announced that it’s Gen 3 e-scooter portfolio has received Certification for Compliance under the Production Linked Incentive (PLI) Scheme for the automobile and auto components sector.

The certification granted by the Automotive Research Association of India (ARAI) will allow Ola Electric to receive incentives from 13 percent to 18 percent of the determined sales value (DSV) until 2028.

At present, the company’s Gen 3 portfolio comprises of S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh.

 “Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability. This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices,” said a Ola Electric spokesperson.

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German luxury automotive brand BMW Group India has cemented its leadership in the luxury electric vehicle (EV) market by becoming the first in the segment to deliver over 5,000 EVs in the country. To mark this significant milestone, the company has inaugurated a new high-power charging corridor spanning 4,000 kilometres from North to South, offering charging access to all EV brands.

The new corridor features charging stations every 300 kilometres, effectively linking major cities and highways from Jammu to Madurai. The route covers key locations including Delhi, Jaipur, Ahmedabad, Mumbai, Pune, Bengaluru and Chennai, aiming to eliminate range anxiety for EV drivers.

Vikram Pawah, President and CEO, BMW Group India, said, “BMW Group India is immensely proud to become the first luxury carmaker to cross the remarkable milestone of 5,000 electric vehicle deliveries. This achievement is not just a number, it represents our unwavering commitment to e-mobility and pioneering spirit in the premium EV landscape. At BMW, luxury and performance is delivered seamlessly with sustainability, and our electric products embody this philosophy. In this journey, we will continue to delight our customers with the most electrifying products and services that provide complete peace of mind. To mark this milestone, we are happy to introduce our high-power charging corridor. Across the length of the nation, from Jammu to Madurai, EV customers can now just sit back and enjoy Sheer Driving Pleasure without a second thought.”

In a move to encourage broader EV adoption, BMW Group India has made these new charging stations accessible to all EV owners, regardless of their vehicle's brand. The stations, with capacities ranging from 120kW to an impressive 720kW, are a part of a larger network of over 6,000 charging points across the country, accessible via the myBMW app. The company is collaborating with charging operators like Statiq and Zeon to manage these new stations.

The sales milestone has been attained by the company’s expansive portfolio of EVs compromising the flagship BMW i7 to the popular BMW iX1 Long Wheelbase, which was the highest-selling BMW EV in the first half of 2025.

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Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company has launched a new electric three-wheeler, the ‘TVS King Kargo HD EV’ at INR 385,000 (ex-showroom Delhi), which it believes will transform urban and semi-urban logistics. The EV is engineered for performance, durability and connectivity in the last-mile delivery sector.

The King Kargo HD EV is designed to improve safety and comfort for operators. It features several segment-first innovations, including LED headlamps and tail lamps for better visibility and a spacious cabin with fully rolling windows. For enhanced performance, it has a dedicated Power Gear Mode that provides higher torque when carrying heavy loads.

The new three-wheeler is also India's first Bluetooth-enabled cargo three-wheeler. It comes equipped with TVS SmartXonnect, offering 26 smart features, along with twin-axis rear-view mirrors for safer navigation through congested city streets. The vehicle’s connected features are managed through TVS Connect Fleet, a web-based platform that gives fleet operators real-time tracking, remote control and advanced analytics for efficient fleet management.

Rajat Gupta, Business Head of Commercial Mobility at TVS Motor Company, said, “The launch of the TVS King Kargo HD represents a transformative moment in the evolution of cargo mobility, aligned to our ‘Re-Imagine 2030’ vision. This three-wheeler will set new benchmarks by delivering an unmatched combination of smart features, high load capability, comfort, ergonomics and safety. Coupled with the TVS Connect Fleet, the vehicle will empower businesses and also improve the everyday life of operators. With the TVS King Kargo HD EV, we are confident of redefining customer expectations and enabling them to achieve more, every day, effortlessly.”

In its initial phase, the TVS King Kargo HD EV will be available in key markets, including Delhi-NCR, Rajasthan and Bengaluru. The company also showcased a CNG variant, which is scheduled for release later this year.

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