Atul Greentech, Valeo India and Honda Power Pack Energy India (HEID) have entered into a partnership to introduce battery-swapping technology for its new range of electric three-wheelers.

As per the understanding, Atul Greentech’s electric three-wheeler will use Valeo’s powertrain and Honda Power Pack Energy India’s battery technology as well as battery swapping network. The EV maker's Mobili Swap passenger variant comes with a claimed 79km certified range per battery swap, while the Energie Swap cargo variant has a claimed range of 74km per battery swap.

Vijay Kedia, Director, Atul Auto, said, “Interchangeable products will revolutionise the electric vehicle sector. They will increase customer revenues by eliminating the need to recharge batteries. An extensive network of exchange stations will reduce range anxiety. As the battery remains the property of the company, customers will benefit from lower vehicle costs and reduced warranty obligations.”

Jayakumar G, Group President and Managing Director, Valeo India, said, “This three-way engagement between Valeo India, Atul Greentech and Honda Power Pack Energy India brings together the expertise required to accelerate the electrification of three-wheeler vehicles and reduce CO2 emissions. Valeo's advanced electric powertrain technology adapted to the Indian market with our strong engineering and local manufacturing expertise will help strengthen our partnership in this growing market.”

Dr. Tomohide Haraguchi, Vice President of Honda Power Pack Energy India, said, “HEID utilises safety and reliable swappable batteries that are implemented with Honda's long-accumulated technology and know-how from the four-wheeled vehicle development. The combination of our batteries and Valeo's cutting-edge powertrain technology provides an automobile-grade electric solution in the e-three-wheeler market.”

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Pune-headquartered automotive major Force Motors has announced its strongest-ever annual financial performance in FY2026, driven by significant growth in the domestic market and improved operating leverage.

The company reported a 13 percent YoY growth in revenue at INR 91.67 billion, EBITDA at INR 15.93 billion, up 39 percent YoY and a net profit of INR 12.11 billion, up 51 percent YoY.

It attributed the growth to broad-based expansion across primary vehicle platforms, maintaining its dominant position in the van segment while doubling its presence in the premium mobility sector. Force Motors continues to remain a zero-debt company, highlighting a disciplined approach to capital allocation and financial prudence.

The company reported a 20 percent growth in overall domestic wholesales compared to the previous fiscal year. Performance across key platforms includes the Traveller maintaining a consistent 70 percent market share in the core van segment. Urbania recording over 100 percent growth, established as a leader in premium shared mobility.

Trax volume grew by over 70 percent, successfully expanding the company's reach into rural and semi-urban markets. While, demand for specialised vehicles strengthened through institutional and defence portfolio, fulfilling key orders for specialised applications for the Indian Armed Forces.

The record profitability is attributed to an improved quality of earnings and a more balanced product mix. Higher volumes allowed for better absorption of fixed costs, while a focus on higher-margin premium segments, such as the Urbania, bolstered the bottom line.

Prasan Firodia, Managing Director, Force Motors, said, “We have been a segment creator since our inception, and we are now pioneering and leading the premium shared mobility segment with Urbania’s strong presence, while platforms like Traveller and Trax continue to deliver scale and reach across markets. At the same time, our engagement with institutional and defence customers reflects the depth of our engineering capabilities and our ability to deliver in demanding and ever‑evolving environments.”

“FY2025–26 marks an unprecedented year in our journey, where consistent execution across quarters has translated into our strongest-ever financial performance. This has been driven by a clear focus on the segments where we believe we can lead and also create new segments, supported by improved operating leverage and a more balanced product mix. As we look ahead, we remain focused on building the business with consistency and discipline. Staying closely aligned to customer needs, while continuing to strengthen our product, technology and innovation capabilities, will remain central to how we approach the next phase of growth,” he added.

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Euler Motors has announced a strategic partnership with Annapurna Finance to expand financing options for electric commercial vehicles (EVs), specifically targeting semi-urban and rural markets in India.

Annapurna Finance joins Euler Motors’ network of over 15 financing partners, offering customised loan solutions for the manufacturer's range of electric three-wheelers and four-wheelers.

The collaboration focuses on fleet operators, small businesses and last-mile entrepreneurs who have traditionally remained outside the mainstream lending ecosystem.

The partnership aims to leverage the unique strengths of both organisations to bridge the credit gap in the commercial EV sector. They will focus on micro-entrepreneurs and MSMEs in underserved regions where formal credit access is often limited. By using Euler Motors’ data-driven insights into vehicle performance and battery health, Annapurna Finance can perform more accurate risk assessments on EV assets.

The initiative aims to improve the unit economics for small operators by providing affordable financing that aligns with the higher uptime and lower operating costs of electric vehicles.

Rohit Gattani, VP of Growth & Vehicle Financing, Euler Motors, said, “Financing remains one of the most critical levers for EV adoption in the commercial segment, especially in markets where access to formal credit is limited. As demand scales, the real unlock lies in reaching operators who have the intent to transition but remain outside traditional lending ecosystems. Annapurna Finance brings a strong, on-ground understanding of these customer segments, particularly in semi-urban and rural markets, which will allow us to extend EV access far more meaningfully. This partnership is about going beyond availability of credit to enabling real participation in the EV economy, with stronger unit economics and more predictable earnings for small businesses and fleet operators.”

Asish Mishra, Head of Product, Annapurna Finance, said, “At Annapurna Finance, our focus has always been on expanding access to credit for segments that are often overlooked by mainstream financial systems. With EVs emerging as a viable pathway for income generation, this partnership comes at a critical time. Euler Motors’ strong product engineering and real-world performance focus give us confidence in the asset itself, which is fundamental to enabling sustainable financing. For our customers, this translates into higher vehicle uptime, better operating efficiency, and ultimately more stable and improved earnings over the long term. We see this as a meaningful step towards building both financial inclusion and clean mobility at scale.

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Tarmac, a CRH company and one of United Kingdom’s leading sustainable building materials and construction solutions business, has reported a significant decrease in road incidents and operational costs following the first 12 months of a safety technology partnership with Motormax and Geotab.

The company operates a diverse fleet of over 2,000 vehicles including trucks, vans and plant equipment, deployed a multi-camera system integrated with the MyGeotab platform.

This ‘single pane of glass’ view allows transport teams to access telematics data and high-quality video footage simultaneously, providing evidence for incident reporting and targeted driver training.

The implementation has delivered measurable improvements across safety and financial metrics including 30 percent decrease in driver-fault collisions and a 50 percent reduction in ‘pulling out’ incidents. The proportion of high and medium-risk drivers fell from 40 percent to 6.5 percent.

Tarmac claims it achieved a 30 percent YoY saving in collision repair costs, while fuel economy improved by 25 percent across the van fleet due to better driving behaviours. Speeding incidents per 1,000 miles also halved since May 2023.

The technology has streamlined collaboration with Tarmac’s insurer, AXA. By training the insurance claims team to use the system, the company has accelerated claims resolution and improved liability decisions. Based on these results, the insurer has provided a bursary that Tarmac is reinvesting into multi-camera technology for all new vehicles.

Jonathan Meddings, Fleet Risk & Compliance Manager, Tarmac, said, “The integration allows managers to view telematics data and high-quality camera footage in a single platform, accelerating decision-making and streamlining fleet operations. As a result, we have already seen significant cost savings.”

Beyond safety, the platform supports wider business functions including HMRC Compliance – accurate reporting of personal mileage usage. Improved mileage capture for lease vehicles and the optimisation of vehicle types to ensure higher-cost 4x4s are only used when necessary.

Tarmac uses the data to reward safe driving through its ‘100 Club’ initiative, which recognises drivers who maintain perfect scores over 300 miles in a month.

The integration of fleet safety data into monthly management packs has elevated road safety from a compliance task to a core operational discipline with clear accountability.

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Swedish automotive major Volvo Group has announced that Stephen Roy, President of Mack Trucks and head of Group Trucks North America, will retire after nearly 25 years with the company.

He will be succeeded by Wilson Lirmann, the Current Head of Volvo Trucks Latin America, effective 1 August 2026.

Roy has held various senior leadership positions across Volvo’s truck and construction equipment divisions. During his three-year tenure as President of Mack Trucks, he is credited with establishing a foundation for the brand's growth in the North American market.

Lirmann brings around 10 years of experience as the leader of Volvo’s Latin American business. His background includes multiple roles within the truck division, where he has focused on operational efficiency and market expansion in South America.

Martin Lundstedt, President and CEO, Volvo Group, said, “I am deeply grateful for Stephen’s contributions over the years. In his different roles, Stephen has driven the platform for continued growth in North America, reinforcing our regional strategy and setting us up well for the next phase.”

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