It could be termed as a fine coincidence that the World EV Day has the EV industry the world over witnessing a fall in battery cell prices below the USD 100 per kWh mark for the first time in two years. The latest average price from the Benchmark Lithium-ion battery cell price assessment is USD 98.3 per kWh approximately and the reason being attributed is the near halving of Lithium prices in China as its economic continues to slowdown. 

For India, which is touted as the world’s fastest growing electric micro mobility market in the world, the news should make the electric vehicle industry happy even though not many would be keen to immediately pass on the benefit to its customers. In India, most electric vehicles feature Lithium-ion battery packs with cells that are sourced from China, Korea or Taiwan. Those that are being made at a very small scale have the material coming from markets such as China where the prices off late have been turning quite lucrative. 

Speaking on the eve of the World EV Day, Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicle Business at BYD India, said, “Today, as we mark World EV Day, we are celebrating a sustainable future in motion and charging ahead into an electrified era. Let’s embrace the power of electric vehicles to drive positive change for our planet and future generations. With the launch of our #GoGreenWithBYD campaign, we aim to inspire every individual to embrace sustainable lifestyles and contribute to a cleaner, greener future for all.”  

Sameer Agarwal, Founder and CEO, Revfin Services, mentioned, “On this special day, we celebrate not just the technology but the people and communities coming together to create a sustainable tomorrow. At Revfin, we believe that the road ahead is electric, and we're driving change.”  

Sandiip Bhammer, Founder and Co-Managing Partner, Green Frontier Capital, averred, “For India to truly embrace EVs, we must catalyse a nationwide ‘charging revolution’. It's not merely about rolling out electric cars; it's the backbone of power behind them which truly counts. The heart of our modern mobility lies in every strategically placed charging station and every innovative solution we bring to the table. We envision a landscape wherein electric chargers are as commonplace as our current petrol pumps, seamlessly integrated into the rhythm of daily life. It's a dance of technology and infrastructure, a harmony between innovation and tradition. An electrified road is no longer a distant dream, but a reality we must confront. This is the future India not only needs but rightfully deserves.” 

Namit Jain, Co-founder and CEO, Rupyy, said, “As we commemorate World EV Day, we're reminded that we stand at a pivotal juncture akin to the early days of the internet—globally symbolised by Tesla's transformative impact and Europe's robust green policies. In India, the two-wheel electric vehicle sector has exhibited a robust growth of 60 percent in H1CY23, capturing a seven-percent market share from just 1 percent two years prior. While challenges persist—ranging from high initial costs to infrastructural gaps—the landscape is ripe for disruption. One such avenue is the evolving fintech sector, which is playing an increasingly significant role in EV adoption by streamlining financing options. From a 30 percent to 40 percent surge in EV financing penetration in recent months, fintech innovations are effectively democratising access to electric mobility. Supported by government initiatives, technological breakthroughs, and financial ingenuity, we are confident that India is steering towards a sustainable and electrified future.”  

Ketan Mehta, Co-Founder and CEO, HOP Electric Mobility, expressed, “Global climate concerns have been driving nations toward sustainability. India's pledge for carbon neutrality by 2070 spurs interest in New Energy Vehicles (NEVs) like, Hydrogen Fuel Cells, Electric Vehicles (EVs), among other options. Electric Vehicles’ adoption has been gaining traction due to their lower carbon footprint and cost-efficiency. In the first-half of CY-2023, the segment has experienced consistent sales, surpassing the 100,000-unit mark each month according to government estimates. Efforts are also underway to establish a nationwide charging network by the government and companies collaboratively. We are expanding our 'HOP Infinity Energy Network’, which we piloted in Rajasthan. We are now rolling it out to other states.” 

Mayank Bindal, Founder and CEO, Snap E Cabs, averred, “At Snap-E it would be fair to say that the entire company has imbibed the CSR ethos; We believe that solving some of the most pressing transportation problem for our customers in a profitable way and leading the way to help adopt sustainable practices and helping the planet are not two different goals. They are one and the same.” With about 400 plus cabs (all 100 percent EV) in operations, Kolkata based Snap-E is among the largest EV Cab fleet owners in the country. 
Rajat Verma, Founder and CEO, Lohum, said, “Lohum's activities are driving change by building a sustainable supply of energy transition materials. By pioneering solutions that turn EV batteries and critical material waste into virtually infinite value, we pace toward a future that makes full use of its resources and takes accountability for our planet.” 

Narayan Subramaniam, Co-Founder and CEO, Ultraviolette Automotive, mentioned, “Electric mobility in India is on the rise and we at Ultraviolette are proud of our contribution to this transformation with our flagship product - the F77. We believe the value of electric vehicle technology lies not just in functional use case segments but also in exciting, performance driven segments. India is now an emerging leader in the global EV arena demonstrating rapid EV adoption consistently. We applaud the initiatives undertaken by the government and industry to bolster this transition, including the FAME II scheme and the PLI scheme. These policies not only offer financial incentives to manufacturers and buyers but also provide crucial guidance to the ecosystem.” 

Nitin Kapoor, Managing Director, Saera Electric Auto Ltd, expressed, "With 40 different types of vehicles and USD 4.23 billion market value, the Indian EV market stood at 11th position in the world on the readiness index. Thus, there is an urgent need to accelerate the EV transition of the country in line with sustainable development goals. The large market with huge domestic demand augurs a golden future for green mobility in India. Electric rickshaws, which are phenomenal in first and last-mile connectivity in metros and providing affordable commutation to sub-urban and rural populace, can further propel India’s EV industry with government support. The industry seeks a more amicable approach from the government with favourable initiatives like subsidies, lower taxes, simple financing alternatives, development of EV charging infrastructure, and establishment of uniform infrastructure standards. These measures are essential in driving India towards a more sustainable future powered by electric vehicles". 

Ankit Mittal, Co-Founder and CEO, Sheru, said, "India’s EV sales are at a tipping point, with this being the first year that sales of EVs going past the five-percent mark of all vehicles sold. This is an important figure. India’s EV sector has thus crossed its infancy stage and is poised to enter the rapid growth stage. While we look back at what has been achieved with satisfaction, we must also be prepared for what is to come next. If we implement our plans and execute it well, India’s mobility sector will witness a transformation in the coming years. Sheru is leading EV sustainability from the front". 

Ashish Deswal, Founder, EarthtronEV, averred, "With more people shifting to EVs, the Indian electric vehicle market size of USD 4.23 billion in 2023 is expected to grow at a CAGR of 68 percent to reach USD 152 billion by 2030. The country aims to achieve 100 percent electric mobility by 2030, which requires rapid expansion of EV charging infrastructure. Still, the charging infrastructure is not sufficient to provide an adequate pace for mobility transition. Besides, a move towards standardisation of EV charging connectors is necessary to benefit the EV charging industry and accelerate the transition to sustainable transportation".

JSW MG Motor India is set to expand its EV portfolio with the MG Windsor Pro, which is set to be introduced on 6 May 2025.

The MG Windsor Pro is expected to offer a higher range, more features, improved safety and minor design tweaks. While technical details are yet to be released, it is safe to understand that the company is looking to further drive sales of its popular EV, targeting a new set of customers.

Launched on 11 September 2024, the company positioned the Windsor as a CUV (crossover utility vehicle) and the most comfortable EV in its segment.

The Windsor EV has already surpassed 20,000 units sales since launch, and has been the highest selling electric passenger vehicle for the last several months in a row.

Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility, the maker of ‘Joy e-bike’ and ‘Joy e-rik’ brand, has reported a consolidated net profit of INR 63.6 million for FY2025, maintaining profitability for the fifth consecutive year despite industry headwinds and a 5.1 percent drop in annual revenue.

The company’s total consolidated revenue stood at INR 3.04 billion, down from INR 3.2 billion last year. However, EBITDA rose 13.9 percent YoY to INR 3.6 billion, and EBITDA margins improved by 222 basis points to 12.11 percent, reflecting strong cost discipline and operational efficiency.

Despite a 52.7 percent YoY dip in PAT, largely due to a high base in FY2024, Wardwizard remained in the black – underscoring resilience amid a challenging EV market environment.

Yatin Sanjay Gupte, Chairman & MD, Wardwizard Innovations & Mobility, said, “While annual revenues saw a slight decline, EBITDA rose 14 percent YoY. Our profitable performance, sustained for five consecutive years, sets us apart and reinforces the strength of our strategy.”

In Q4 FY25 (Jan–Mar 2025), the company recorded a 62.2 percent YoY rise in PAT to INR 64.5 million, with EBITDA nearly doubling to INR 1.8 billion. PAT margins for the quarter expanded to 5.91 percent, and EBITDA margins reached 17.26 percent, reflecting improved product mix and cost optimisation.

During the last fiscal, the company deployed over 400 electric two-wheelers across major cities like Kolkata, Pune, and Ahmedabad as well as the launch of L5 electric rickshaws in Maharashtra. Ongoing partnerships and a USD 1.29 billion EV initiative in the Philippines are expected to drive future growth.

“With continued innovation and targeted execution, we are building a stronger foundation for long-term growth,” Gupte added.

OPG Mobility (formerly Okaya EV) has appointed Ajay Dhiman as the new President – Chief Operating Officer (COO) and Chief Technology Officer (CTO) to lead its electric vehicle and EV components business.

In this strategic leadership role, Dhiman will be responsible for operations and technology functions spanning manufacturing, R&D, product development, quality, sourcing, supply chain and business strategy.

He joins OPG Mobility with over 20 years of experience in the automotive and EV sectors. He previously served as Senior Vice-President at Revolt Motors, where he is said to play a key role across CXO-level functions and was instrumental in accelerating product development and delivering high-quality electric mobility solutions. His career includes leadership stints at Honda, Renault-Nissan, Subros and Sonalika Group, contributing across two-wheeler, three-wheeler, and four-wheeler segments.

Anshul Gupta, Managing Director, OPG Mobility, said, “We are delighted to have Ajay Dhiman join our leadership team at a pivotal moment in OPG Mobility's journey. As we step up our presence in the EV ecosystem, Ajay’s deep experience in product development and operations will be invaluable in scaling our EV and components business. His thorough knowledge of both legacy systems and new mobility technologies will drive value, innovation, and faster execution across our transformation journey.”

Ajay Dhiman, added, “It’s an honour to join OPG Mobility at such a transformative time. The brand’s vision of delivering inclusive and innovative electric mobility solutions aligns strongly with my passion for engineering excellence, innovative products and future-focused manufacturing. I look forward to working closely with the leadership and teams to strengthen our product pipeline, accelerate product innovation, strengthen our technological edge, enhance operational excellence, and scale solutions that support India’s evolving mobility needs. We aim to position OPG Mobility as a frontrunner in shaping India’s electric mobility revolution.”

The Maharashtra government has given rolled out the Electric Vehicle Policy 2025 for a period of five years (till 2030) with an estimated outlay of INR 19.93 billion.

The forward-looking policy aims to not only incentivise purchase of electric vehicles, but also aims to boost adoption and real-world usage.

As per the policy, certain EVs plying on highways will be given a toll waiver, EV charging infrastructure strengthened with an ambition have charging facilities every 25km on the national highways.

Electric two-wheelers, three-wheelers, private four-wheelers, state transport corporation buses, private buses and transport undertaking under civic bodies will get concession of 10 percent on purchase of an EV on the original cost. For goods carrying three-wheelers, four-wheelers and electric tractors will be eligible to a concession of 15 percent.

The government has also waived off registration fee on EVs. Lastly, electric four-wheelers and buses will also get toll exemption on Mumbai-Pune Expressway, Atal Setu, Samruddhi Mahamarg, along with 50 percent concession on state and other national highways.

Devendra Fadnavis, Chief Minister of Maharashtra, said, "The state government has approved a new Electric Vehicle (EV) policy, under which passenger EVs will be given subsidies. EV manufacturing and their use should increase in the state."