Yuma Energy, one of India’s leading Battery-as-a-Service (BaaS) player, has launched its services in Noida, Uttar Pradesh (UP), with active support from Invest UP, the Government of Uttar Pradesh’s investment promotion and facilitation agency.

The company has started operations in Noida and plans to soon expand to other major cities such as Lucknow, Kanpur, Ghaziabad, and Varanasi.

It expects that its EV battery swapping infrastructure will further drive adoption of electric vehicles (EVs) in the two- and three-wheeler segments.

Yuma Energy had also signed a Memorandum of Understanding (MoU) with Invest UP to plan and invest around INR 2 billion in building a state-of-the-art network of swapping stations across Uttar Pradesh. In turn, Invest UP would facilitate discussions between the company and key stakeholders, including landowners and power distribution companies. The partnership is expected to create over 500 direct jobs and support up to 100,000 livelihoods for EV riders and drivers.

Muthu Subramanian, General Manager and MD, Yuma Energy said, “UP is a nationwide leader in e-mobility, especially in the three-wheeler segment, thanks to its favourable policy environment and growing EV infrastructure. With industry benchmarks like a 99 percent station uptime and an average battery swap time of less than a minute, Yuma Energy is well-positioned to contribute to the state’s sustainable transformation by enhancing the availability of EV energy infrastructure. We are excited to support UP’s vision of balanced, inclusive, and sustainable development.”

Prathamesh Kumar, Additional CEO (ACEO), Invest UP said, “We are thrilled to support Yuma Energy’s decision to establish battery swapping stations across Uttar Pradesh, starting with Noida. As a facilitation body, Invest UP’s role is to ensure that companies like Yuma Energy receive the guidance and assistance they need to navigate regulatory frameworks and establish a smooth rollout of their services. This initiative will contribute significantly to the state’s growing electric vehicle infrastructure, in line with the Government’s vision for sustainable development. Invest UP is committed to promoting investments that drive innovation, create jobs, and foster sustainable development in Uttar Pradesh.”

Subramanian added, “Yuma Energy is thrilled to expand to Noida, our eleventh city. Rapid EV adoption in Noida has created a strong demand for smart energy solutions to power green commutes and logistics. Yuma Energy will address this need with our technology-driven battery swapping solutions and dense networks, reliably meeting the energy needs of two- and three-wheeler EV riders, fleet operators, and original equipment manufacturers (OEMs) in this fast-growing city.”

Yuma Energy’s BaaS system incorporates smart batteries, charging units, and a connected, data-driven network. 

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."