JBM Auto, one of India’s leading automotive and electric vehicle company has announced its consolidated financial results for the quarter ended 30 September 2024.

The automaker reported INR 12.85 billion revenue from operations, as against INR 12.31 billion last year, an increase of 4.47 percent YoY. The EBITDA came at 1.74 billion, up 18.54 percent, as compared to INR 1.47 billion; net profit of INR 491 million as against, INR 441 million last year, registering a growth of 11.45 percent YoY.

This also marked its highest-ever Q2 sales in OEM business. It also signed an agreement with the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) for sanctioning strategic investment towards e-mobility projects in multiple states.

JBM Auto also started operations for 48 intercity buses in Telangana.

The company states it has a strong order book in OEM Division and Tool Room Division which will contribute in continuing the impetus growth of the company in FY2025.

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Truck rentals across trunk routes held firm in August, supported by demand ahead of the festive season, according to the Shriram Mobility Bulletin published by Shriram Finance.

The report states that month-on-month rental increases were led by the Mumbai–Kolkata–Mumbai and Bengaluru–Mumbai–Bengaluru corridors, which rose by 2 percent each. The Kolkata–Guwahati–Kolkata route recorded an increase of 1.9 percent, while the Delhi–Kolkata–Delhi route rose by 1.7 percent.

On the other hand, on a year-on-year basis, the Delhi–Kolkata–Delhi route recorded rental growth of 15 percent, followed by Bengaluru–Mumbai–Bengaluru and Kolkata–Guwahati–Kolkata at 11 percent each.

Shriram Finance states that vehicle sales data indicated sequential moderation across multiple categories in August. Commercial tractor and agricultural trailer sales fell by 35 percent MoM, while agricultural tractor sales declined by 27 percent. Sales of maxi cabs, buses and e-rickshaws decreased by 20 percent, 18 percent and 17 percent, respectively. Goods carrier sales dropped by 10 percent, while passenger motor cars and two-wheelers each recorded a 6 percent sequential decline.

In terms of YoY vehicle registrations, the automotive industry maintained growth across categories with the three-wheeler goods vehicles recording a 43 percent growth, maxi cabs by 29 percent and earth-moving equipment rose by 27 percent. Two-wheeler sales increased by 20 percent, goods carriers by 18 percent and passenger cars by 16 percent.

In Kerala, driven by Onam, two-wheeler sales grew by 17.90 percent MoM and 19.09 percent YoY, while four-wheeler sales declined by 3.73 percent MoM, while remaining 9.30 percent higher YoY.

Electric vehicle registrations experienced sequential reductions while expanding on an annual basis. Electric two-wheeler sales declined by 10 percent MoM, electric three-wheelers by 3 percent and electric cars by 13 percent. On a yearly basis, electric three-wheelers sales grew by 98 percent, electric two-wheelers by 90 percent and electric cars by 87 percent.

Fuel consumption patterns showed petrol consumption increasing by 1 percent MoM, while diesel consumption declined by 13 percent. For yearly basis, the same saw a growth of 7.9 percent and 6.4 percent, respectively.

FASTag toll collection volumes grew by 1 percent MoM with value increasing by 0.6 percent, while on yearly basis the same saw a decline by 5 percent, while total value increased by 8 percent.

Sudarshan Holla, Joint MD and COO, Commercial Vehicles, Shriram Finance, said, "The onset of the festive season, led by Onam celebrations in Kerala, has boosted sentiment across the transportation sector. Freight activity remained robust, with truck rentals holding firm on major trunk routes. Consumer demand also strengthened, as evidenced by a notable surge in two-wheeler sales during the festive period. At the same time, transporters are engaging with government authorities to seek relief from the upcoming restriction on BS-IV trucks entering the NCR, scheduled to take effect from November 1."

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Energy In Motion has signed a strategic memorandum of understanding with Oil Field Warehouse & Services and Radiance Green Mobility to deploy 500 electric heavy commercial vehicles across freight corridors in India.

The initial rollout will begin in October 2026 with 50 vehicles on the Mumbai–Pune route. The deployment will later expand across the Mundra–Morbi–Ahmedabad and Mumbai–Delhi corridors as Energy In Motion completes its battery-swapping network along these routes.

As per the agreement, Energy In Motion will supply the vehicle, battery-swapping and charging infrastructure, while Oil Field Warehouse & Services and Radiance Green Mobility will manage commercial operations and fleet deployment. Energy In Motion's lineup includes the Ashwa 55-tonne electric tractor and a 350-kWh battery variant.

Narendra Murkumbi, Managing Director, Energy In Motion, said, “This is a landmark partnership for EIM as OWS and Radiance already command large cargo movement on these key transport corridors. We will deliver heavy electric freight movement at a cost significantly below diesel transport costs besides the benefits of sustainability and freedom from dependence on imported oil.”

Pankaj Surani, Managing Director, Oil Field Warehouse & Services, said, “OWS has always been a pioneer in the fields that it has entered and is known for the industry leading benchmarks that it sets with its service quality. This partnership is yet another step taken with our pioneering spirit wherein we aim to develop the first of its kind dedicated electrified freight corridors that are not only efficient and cost competitive but are also sustainable.”

Vineet Sharma, Director and CFO, Oil Field Warehouse & Services, said, “When we looked at the data from our trials, it was clear that not only was electrification of our fleet viable now, moving away from a pure diesel fleet would help us achieve a more predictable cost structure that is not so easily disrupted by global events outside our control. This predictability in turn allows us to enter into a long-term contract with our customers who have a clear visibility on costs from a reliable service partner. We therefore look at this partnership with EIM as a strategic advantage that we will be building on in the coming years.”

Vitthal Wable, Director, Radiance Green Mobility, said, "We at Radiance Green Mobility are excited to extend our Heavy Commercial EV partnership with EIM beyond the port ecosystem to India’s key freight corridors. As early movers, we aim to accelerate sustainable logistics at scale, building on the proven ICE fleet expertise of our parent company, Jyothi Transport & Freight Services, and complementing it with a strong EV rollout in key freight corridors across India."

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The Climate Pledge, co-founded by Amazon, has launched SUPEREV, a mobile application intended to accelerate commercial electric vehicle adoption in India. Developed alongside energy technology company Pulse Energy, the platform aggregates procurement, charging, financing, leasing and renewable energy sourcing into a single system.

The application follows a trial period with commercial operators and provides access to 20,000 charging points managed by over 85 operators, covering approximately 75 percent of the national charging network. Initial fleet partners on the platform include Blueline, Astranova and Athena, alongside vehicle, financing and leasing suppliers.

SUPEREV was created to support JOULE, a joint action project led by The Climate Pledge to aggregate demand across commercial transport sectors. The platform is also testing integration with the Ministry of Power's India Energy Stack, aiming to match charging demand directly with local renewable energy generators, including solar producers.

Karan Chugh, Director of Operations, Amazon India, said, “Accelerating EV adoption requires industry to move together. SUPEREV builds on Amazon and The Climate Pledge’s broader efforts to support electric mobility in India, including initiatives to expand charging infrastructure, advance electric freight and address barriers to commercial EV adoption. By bringing together vehicles, charging, financing, and renewable energy on a single app, SUPEREV takes this collaborative approach further creating a model that could be replicated across emerging markets facing similar challenges.”

The application provides drivers with charging network discovery, session initiation and payment options via the Unified Payments Interface (UPI). Fleet managers can use the system to contract charging services, request locations for charging station installation, arrange vehicle leases, apply for finance and procure renewable energy.

Akhil Jayaprakash, Co-Founder and CEO, Pulse Energy, said, “India has already shown the world what open, interoperable digital infrastructure can do with UPI. SUPEREV brings the same playbook to fleet electrification one app where a driver can charge across 85 networks, a fleet can finance and lease vehicles, and a farmers’ surplus solar can power a delivery van. We built this in collaboration with The Climate Pledge because scaling EV adoption requires better coordination across the different stakeholders and services that enable the transition.”

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Larsen & Toubro’s Construction & Mining Machinery business has entered into a partnership with FAYAT Road Equipment Division India to market BOMAG road milling machines, soil stabilisers and cement spreaders in India. The agreement encompasses marketing, sales, aftersales support and the supply of spare parts.

FAYAT is a France-based construction group and road equipment supplier, while Germany-headquartered BOMAG operates within FAYAT’s Road Equipment Division. The equipment range will join L&T’s current road machinery portfolio, expanding the company’s coverage across road construction, maintenance and infrastructure development applications.

Anil V Parab, Senior Executive Vice-President and Whole-time Director - Manufacturing, Larsen & Toubro, said, “Our Construction & Mining Machinery business has a long history of introducing advanced equipment technologies in India. In fact, we are the pioneers to introduce hydraulic excavators in India. The addition of BOMAG’s specialised road construction equipment further strengthens this legacy.”

“L&T’s nationwide service network, supported by its central warehouse in Nagpur, will help ensure prompt technical support and dependable after-sales service throughout the equipment lifecycle. Together, L&T and FAYAT aim to enhance customer productivity, improve project efficiency and build a strong platform for long-term growth in the Indian market,” added Parab.

Abhijit Som, MD, FRED India, said, “India is a key strategic growth market for the FAYAT Group. As the country advances towards realising its vision of Viksit Bharat by 2047, continued investment in infrastructure will drive demand for advanced, efficient and sustainable road construction solutions. With a legacy spanning several decades and a presence in more than 170 countries, FAYAT is well-positioned to bring its global expertise and technologies to support this growth. The introduction of BOMAG’s specialised road construction technologies in India, combined with L&T’s extensive market reach, deep customer relationships and service infrastructure, creates a compelling synergy. The partnership will enable customers to access advanced and reliable equipment solutions backed by strong local support.”

L&T will manage nationwide product support through its distribution network and central parts warehouse located in Nagpur.

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