On September 29, Tube Investments of India and its subsidiary, TI Clean Mobility, entered into agreements for an INR 2.5 billion investment in TI Clean Mobility. The funds will support the expansion of TI Clean Mobility and its subsidiaries, which operate in the electric-mobility sector.
The companies also signed an

On September 25, 2026, Zelio E-Mobility announced plans to raise INR 1.68 billion through a preferential issue of equity shares and convertible warrants. The company will issue up to 973 thousand equity shares to raise about INR 830 million from Motilal Oswal Financial Services, Calliope Capital Advisors, Param Value

On September 15, Musashi Auto Parts India signed a Letter of Intent (LOI) with Bhago Mobility Solutions to supply electric powertrain systems for the fixed-battery version of the Bhago Bhim electric three-wheeler (3W) platform. Musashi will supply locally manufactured 3W e-axles, with production planned to begin in 2

On August 18, the Government of India amended the AIS-156-2020 to introduce cybersecurity testing requirements for battery management systems (BMS) in L-category electric vehicles with Bluetooth Classic, Bluetooth Low Energy, or other wireless interfaces. The amendment adds a clause on security testing of BMS connect

On August 20, Omega Seiki Mobility raised INR 500 million in a fresh funding round at an undisclosed valuation. This is the company’s second fundraise in two months. The round was led and managed by Abhishek Misra, SKG Asset Management and Unistone Capital, with participation from the Sanjeev Agarwal Family Office, B

On August 17, Greaves Cotton Limited acquired the remaining 20% stake in Excel Controlinkage Private Limited, taking its shareholding to 100% and making Excel a wholly owned subsidiary with effect from August 13, 2026. The transaction, executed via a secondary purchase, completes the multi‑tranche acquisition process

On August 10, the Ministry of Heavy Industries amended the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme, increasing its total outlay to INR 119 billion and extending its duration from April 1, 2024, to March 31, 2028. The earlier Electric Mobility Promotion Scheme (EMPS-2024) has

On August 8, Atul Auto Limited announced it would close its existing manufacturing operations for three-wheeler vehicles and spares at the Shapar, Rajkot, plant. Its board of directors also approved leasing the land and building of the Shapar plant together with utility connections.
The company presently carries out

On August 6, Lords Mobility announced a partnership with IEG Auto Powers to pilot its patented Internal Energy Generation (IEG) technology in Lords Mobility's electric three-wheelers. The collaboration marks a significant step towards developing next-generation EV solutions that could redefine the future of electric

On August 3, Greaves Electric Mobility Limited (GEML) announced an additional equity infusion of INR 5.3 billion through a Rights Issue. The investment is fully subscribed by the existing shareholders in proportion to their existing shareholding, including Greaves Cotton Limited (GCL) and Abdul Latif Jameel Green Mob

On July 30, Mahindra & Mahindra Ltd. announced that it has signed a binding agreement to raise approximately INR 3.22 billion in Mahindra Last Mile Mobility Limited (MLMML), its last-mile mobility business. MLMML has now achieved unicorn status in the electric vehicle market
The funding round was led by Lightrock, a

On July 27, multiple sources reported that Omega Seiki Mobility had raised INR 500 million in a funding round co-led by Securocorp Securities, Sangeeta Pareekh, Saket Aggarwal Family Office, and Vanshika Sharma.
The company plans to use the funds to expand production in Faridabad and Pune, strengthen R&D, grow its de

On July 15, Mercury EV-Tech Limited informed the announced that it has received approval from the Gujarat Energy Development Agency (GEDA) to market and distribute its 11 battery-operated three-wheelers (e-rickshaws) equipped with lithium-ion batteries in Gujarat during 2026–27 and 2027–28.
 Under this approval, indi

In its annual report for FY 2025-26 (ending March 31, 2026), Automotive Stampings and Assemblies Limited (ASAL) announced that it has established a new vertical for automotive seat structures. It has initiated supplies to TM Automotive Seating Systems Private Limited. ASAL also started the supply of Body-in-White (BI

On July 6, 2026, Piaggio Vehicles Pvt. Ltd. launched the Apé WavE electric passenger three‑wheeler in Pune for INR 255 thousand for the affordable L3 passenger EV category.  The Apé WavE is powered by a 5.4 kWh battery and a motor with 3 kW peak output and 25 Nm torque, offering a top speed of 40 kmph, 19% gradeabili

On June 30, Greaves Cotton Limited incorporated a wholly owned subsidiary, Greaves International Trading FZE (GITFZE), in Dubai, UAE, as part of its GreavesNext strategy to expand international operations. The subsidiary will function as a regional hub for trading and distribution across the Middle East and Africa, c

On June 5, CBAK Energy Technology, Inc. announced its participation in the 27th Autoexpo Kenya 2026. CBAK presented its cylindrical cell portfolio for Africa’s growing electric two-wheeler and three-wheelers, battery-swapping, and light electric mobility markets. 
Building on the discussions and market insights gaine

On May 15, TVS Motor Company launched the TVS King EV MAX, a connected passenger electric three-wheeler, in Nepal. The vehicle is powered by an 11-kW motor and a 51.2V, 9.2 kWh lithium-ion LFP battery, delivering a certified range of 179 km per charge. Fast charging supports 0–80% in 2 hours and 15 minutes and a full

On April 27, Zelio E-Mobility unveiled its latest electric three-wheeler, the Tanga Nine+, at the RideAsia EV Expo 2026 held at Bharat Mandapam, New Delhi. The commercial launch is expected in Q2 of the current financial year. The vehicle delivers a top speed of 45-50 km/h and a range of 150 km per charge, powered by

On April 24, Atul Auto and Bengaluru-based Exponent Energy announced a partnership to jointly develop and deploy rapid-charging electric passenger three-wheelers, committing to a minimum of 15,000 vehicles over three years. Atul Auto's vehicles will be integrated with Exponent Energy's OTO three-wheeler mobility plat