Three Wheels United (TWU), a global fintech company for EV financing, has raised $10 million as a part of Series A Funding led by Delta Corp Holdings with participation from new and existing investors. 

The company said in a statement that the current funding round is a combination of equity and debt from Delta Corp Holdings with participation from existing investor Techstars. The round also saw participation from investors in the Middle East, Europe and from Grip Invest. The company said the new investment will be used towards entry into new geographies in India and international markets, for strengthening operations in existing cities, enhancing TWU’s technology platform and growing its customer base.  

Three Wheels United has previously raised funding from Asian Development Bank Ventures, Techstars, Microsoft, and investors from the Middle East, Europe, and US.

Three Wheels United said it provides affordable financing solutions for drivers to easily make the switch from conventional vehicles to EV two and three-wheelers. Founded by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra in 2017, the company has been steadfastly working towards removing financial barriers in the adoption of EVs in India and now globally, the release claimed. TWU said it was founded with an aim to address the key impediments in the large-scale penetration of EV three-wheelers in India. The company has developed a disruptive platform to finance light electric vehicles. The company leverages technology to provide the most comprehensive, affordable loans, and rent-to-own options to India’s micro entrepreneurs to help them easily switch to EV two and three-wheelers.

Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said, “Three Wheels United was founded with a belief that technology can accelerate our efforts towards promoting sustainable last-mile connectivity. Over the last several years of working in the EV ecosystem, we have gathered deep insights into some of the barriers to mass adoption of EVs. The lack of affordable financing continues to be a key obstacle for low-income clients to switch to EVs. We have identified these challenges and we have created a scalable solution that is tailored for our clients.”

He added, “We are pleased with the further validation of our business model. The new investment will accelerate our next phase of growth and enable us to establish a strong foothold in the existing markets and test out other markets. We intend to launch the two-wheelers category and expand to ten more cities by the end of this year. TWU has long-lasting partnerships with leading OEM’s, aggregator platforms, battery swapping and charging operators, tech giants and other related infrastructure service providers.”

Mudit Paliwal, CEO, Delta Corp Holdings, said, “We believe Three Wheels United is addressing a significant need in the EV ecosystem. To accomplish a large-scale EV shift, access to easy financing is a critical element. In Three Wheels United, we found a team that was passionate about the space but deeply strategic about the business. With their deep understanding of financing needs of low-income clients and through the use of innovative technology, they have built a highly profitable and scalable business model that can allow millions of micro entrepreneurs to make the EV shift.”

He added, “We are excited to be investing in Three Wheels United. The team has shown great commitment over the last several years in enabling micro entrepreneurs to switch to cleaner and more economically viable last-mile alternatives. TWU has taken an inclusive and unique ecosystem approach towards their goal of reducing the climate impact of the transportation sector.”

Vijay Tirathrai, Managing Director, Techstars, said, “Having been a part of TWU’s growth story for the last several years, we have seen the team successfully navigate challenges and emerge as a leading financier for light electric vehicles. We are happy to be supporting the team in their mission to improve livelihoods of auto-rickshaw drivers and reduce air pollution.” (MT)  

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Chennai-based commercial vehicle major Ashok Leyland has released its wholesales of 17,820 units for October 2025, reporting a 16 percent rise in total wholesales compared to 15,310 units for the same month last year.

Total domestic sales grew by 16 percent, reaching 16,314 units for the month, compared to 14,067 units in October 2024. This includes Medium and Heavy Commercial Vehicles sales clocking 14 percent growth to 9,611 units. Light Commercial Vehicles (LCV) sales increased by 19 percent YoY, from 5,630 units to 6,703 units.

With this, cumulative wholesales for YTD FY2026 has grown by 6 percent reaching 111,174 units compared to 104,827 units last year.

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Scania Commercial Vehicles India has appointed GMMCO, part of the CKA Birla Group, as its new authorised dealer partner for Northern, Eastern and Central India. This marks a major milestone in Scania's renewed India growth strategy, shifting the company from a direct sales model to a fully dealer-driven ecosystem.

As per the understanding, GMMCO will be responsible for sales and service support for projects across its designated regions. This arrangement complements the existing partnership with PPS Motors, which continues to represent Scania in the Southern and Western territories, ensuring seamless national coverage.

Under the new model, Scania will concentrate on product planning, innovation and lead generation, while its dealers will manage sales, service, aftermarket operations and inventory independently.

Silvio Munhoz, Managing Director, Scania Commercial Vehicles India, said, “The appointment of GMMCO marks an important step in Scania’s India growth journey. GMMCO’s strong industry presence, wide service network and customer-first philosophy make them an ideal partner as we expand into new markets and business areas. This partnership reinforces our long-term vision for India and lays a solid foundation for our next phase of growth, driven by the Scania Super range and our focus on sustainable transport solutions.”

Scania aims to accelerate its global strategy of delivering complete solutions rather than just products. This solution-based approach includes application-specific product selection, tailored service packages and customised financial solutions.

Chandrashekar V, Managing Director & CEO, GMMCO, said, “We are delighted to partner with Scania, a global leader synonymous with innovation, performance and sustainability. This collaboration reflects GMMCO’s commitment to delivering comprehensive, technology-driven solutions that empower our customers across sectors. With our deep industry reach, strong service infrastructure and relentless focus on operational excellence, we are confident of driving Scania’s next phase of growth in India and creating exceptional value for our shared customers."

The expanded dealer network will cater to business segments including construction, long haulage, mining and special applications.

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Montra Electric, the clean mobility arm of the Murugappa Group, has expanded its retail presence in India with the opening of two electric Small Commercial Vehicle (e-SCV) dealerships in Bhiwandi and Panvel.

The new outlets, which operate in the Mumbai Metropolitan Region (MMR), are operated by retail partner Autobahn VoltiGo. The dealerships will offer the Montra Electric EViator, an e-SCV designed for intercity and intracity cargo transport. The vehicle aims to offer efficiency, high uptime and a low total cost of ownership for fleet and logistics operators.

Saju Nair, CEO, Montra Electric e-SCV, (TI Clean Mobility), said, “The EViator is built to deliver power, range, and performance that match the real-world needs of India’s logistics ecosystem. With partners like Autobahn VoltiGo, we’re ensuring that customers in key commercial hubs such as Bhiwandi and Panvel get access to future-ready EV solutions backed by strong service and uptime support.”

Farzad, Managing Director, Autobahn Trucking Corporation, said, “At Autobahn, our purpose is to move our customers’ businesses forward through innovation, trust and performance. Partnering with Montra Electric extends that commitment into the clean mobility space. After successfully establishing Montra Electric operations in Kerala and Pune, we are now expanding to Mumbai at Bhiwandi and Panvel, bringing customers a seamless ownership experience built on accessibility, uptime and service excellence.”

The EViator offers a certified range of 245 km and a real-world range of over 170 km. It features an 80kW motor that delivers 300 Nm of torque and includes telematics to ensure over 95 percent uptime. The e-SCV is supported by a seven year or 250,000 km extended warranty.

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Tata Motors Commercial Vehicles has showcased its range of Euro 6-compliant trucks and buses tailored for the Middle East and North Africa (MENA) region, marking its largest regional unveiling.

The new range reflects the company’s ‘Better Always’ philosophy and is designed to support the region’s transition to cleaner mobility. The vehicles, built for cargo and passenger transport, were engineered and tested across demanding terrains to deliver comfort, operational efficiency and enhanced safety.

Asif Shamim, Head – International Business, Tata Motors Commercial Vehicles, said, “As the MENA region continues to advance its economic diversification and infrastructure ambitions, there is a growing demand for smarter, efficient and advanced mobility solutions. Tata Motors Commercial Vehicles has been a trusted partner in this journey for about six decades, and the latest range of trucks and buses reflect our long-term commitment to stay ahead of the curve. This comprehensive line-up is engineered to deliver superior performance and reliability, enabling our customers to run businesses efficiently. We are confident that these offerings will set new benchmarks and further strengthen our role in shaping the region’s evolving mobility landscape.”

The showcased models include a spectrum of mobility solutions:

Passenger Mobility Solutions:

• LPO 1622: Available in 11-metre and 12-metre lengths, featuring a Cummins engine, ABS with Electronic Stability Control and cruise control.
• Starbus Prime LP 716: A 28-seater bus with a new-gen 3.3-litre engine, built for school and staff transport, including ABS, ESC and Hill Start Assist.
• Ultra LPO 916: A 33-seater bus offering fuel-efficiency and reliability.

Cargo Mobility Solutions:

• Ultra Range: Built on Tata Motors’ smart truck platform, available from 7-9 tonnes configuration, suitable for intra-city logistics.
• Prima 3430.T: Powered by the 6.7-litre Cummins engine generating 300 HP of power and 1100 Nm of torque, ideal for long-haul operations.
• Prima 3330.K: A tipper designed for productivity in construction and mining operations.

Tata Motors offers a commercial vehicle portfolio in over 40 countries. The company also offers regional support with over 100 strategically located service centres, extended warranty options and Annual Maintenance Contracts (AMC).

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