EV startups, electric cars and bikes, charging infrastructure, and India's EV market news.
Audi India is contemplating local manufacture of EVs to boost its market share in the luxury automotive segment from 8% to 15-16% in the next 3 to 5 years. The luxury car company intends to grow its model portfolio, enhance dealerships in tier-II and tier-III cities and improve customer experience.
Vietnamese electric vehicle company VinFast will set up over 50 electric motorcycle dealerships in 34 Indian cities across 15 states and territories by partnering with local dealers. The extension will also have charging infrastructure and better after-sales services to assist the clients.
Bike taxi aggregators like Rapido, Ola and Uber have been told by the Maharashtra state to switch to electric vehicles from petrol-powered motorcycles by July 2027. The state transport government has given platforms nine months to comply citing Maharashtra Bike Taxi Rules, 2025.
Instamart intends to build its battery swapping network around the micro-fulfilment centers to speed up the use of EVs in the last mile deliveries. The company is collaborating with Yuma Energy and Yulu to minimise charging downtime, travel and operating costs for delivery partners.
Ultraviolette Automotive will invest INR 779 crore to establish a new BIGGA Factory in Hosur, Tamil Nadu to increase its electric car manufacturing capability. The plant is expected to produce 250,000 vehicles a year initially, with capacity for 500,000 units as demand increases.
Ola Electric is building its first dealer-led stores across seven states as it transitions away from its own stores to company-led outlets. The EV producer is planning to have 500 dealerships around the country in two quarters to boost local sales and service.
Euler Motors is expanding its manufacturing facilities in Palwal to cater to the increased demand for electric commercial four-wheelers in India. The new plant will be able to produce models like the Storm EV and Turbo EV 1000 and will include comprehensive testing of critical vehicle systems.
Flying Flea has increased its dealer network in Bengaluru from one to 11, boosting its retail and service presence before a broader roll-out across India. The electric motorcycle manufacturer has opened six dealerships with five more to open in early August.
Hyundai Motor India has increased its EV charging network to 30,000 charging points through the myHyundai app, providing EV owners of all manufacturers with easy access to charging stations across India. The platform allows for station discovery, prior booking and more.
Hero MotoCorp will invest $116 million (approximately INR 1,000 crore) in Ather Energy through a preferential allocation, strengthening its long-term electric vehicle cooperation with Bengaluru-based EV producer. The investment is pending regulatory and shareholder approvals.
India’s automotive market kicked off FY27 on a high note, with April 2026 auto sales recording strong growth across segments. The surge was largely driven by rising demand for electric vehicles (EVs) and sport utility vehicles (SUVs), reflecting a clear shift in consumer preferences. The month saw impressive traction
From deeptech and spacetech to D2C nutrition and B2B marketplaces, Indian startups saw steady funding activity today. The day was led by NowPurchase’s INR 80 crore raise and BeastLife’s INR 20 crore round, highlighting momentum in industrial supply chains and consumer wellness. Aerospace and fintech startups also secured
Ola Electric Mobility Ltd is shifting funds that were supposed to go into innovation into paying off debt. Consequently, the electric-vehicle producer is under increasing pressure due to weakening sales and stalled financing efforts. The plan for using the INR 5,500 crore that the Bengaluru-based company raised
Healthtech startup Cent, founded by Shashank ND, the founder of Practo, has raised fresh funding from OneFlow Holdings and venture firm South Park Commons. The investment amount has not been officially disclosed, although industry reports suggest the seed round is around $5 million. The Bengaluru-based startup was launched by
Ola Electric introduced its 'Ola Insiders' community initiative on March 1st, catering exclusively to its 10 million riders nationwide. Vehicle upgrades, add-ons, and referrals are just a few of the perks that community members can achieve through the campaign. A statement from Ola Electric stated that consumers
In response to decelerating demand and declining market share, Ola Electric is allegedly preparing for yet another massive reduction in its physical store footprint. Several news agencies have reported that by the end of March, the corporation plans to reduce its shop network to approximately 550 stores. Following a previous
With the introduction of its subsidiary 'Exponent One,' the electric vehicle quick-charging startup Exponent Energy has entered the electric vehicle financing area. Now it will provide funding options to commercial EV operators. Venture capital firm AdvantEdge has invested $2 million (about INR 18.2 crore) in Exponent
The Indian startup ecosystem saw a mix of funding across cleantech, regtech, consumer brands, quick-service restaurants, and mobility manufacturing on 13 Feb 2026. IDfy led the day with a substantial ₹476 crore capital raise to expand its trust and compliance stack globally, while EverBrands secured $15 million to bolster
Elon Musk is signalling a change of guard within his corporate empire with his intention to merge SpaceX with his money-burning artificial intelligence startup xAI. Musk owes a great deal of his fame and fortune to Tesla. However, after the merger on 2 February, SpaceX's reported private
To combat the country's dismal sales performance, electric vehicle (EV) giant Tesla India announced a number of new efforts, including an EMI programme, on February 3. Electric vehicles are replacing petrol and diesel vehicles, and Tesla is giving a 3 lakh Indian rupee (INR) exchange bonus to clients
Ola Electric, based in Bengaluru, announced on 30 January that it would lay off about 5% of its employees as part of a reorganisation meant to increase automation and boost profitability. An electric two-wheeler manufacturer financed by SoftBank has said that it is "doubling down" on discipline
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with S Raghav Bharadwaj, Founder & CEO of Bolt.Earth,
- Silicon Valley turns loud with a political feud between tech billionaires. - Indian-American billionaire Vinod Khosla accused Elon Musk of racism on 'X.' - Khosla urged Elon Musk's employees to join companies backed by Khosla Ventures.
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with Himanshu Arya, Founder & CEO of Luxury Cart, who
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with Pushpank Kaushik, CEO & Head of Business Development (Subcontinent,
EV as a service platform raises INR 12.25 crore in equity + debt funding from Recur Club. Also saw participation from Thyrocare’s Dr. A. Velumani, Aditya Singh of All In Capital, and LetsVenture’s Pranav Mahajani Hala Mobility, India’s leading EV as a service platform, has secured a
The chief financial officer (CFO) of Ola Electric, a manufacturer of electric vehicles (EVs), Harish Abichandani, has resigned. He resigned for "personal reasons". The listed electric two-wheeler (E2W) manufacturer also announced the appointment of former Puravankara (real estate developer) executive Deepak Rastogi as the new CFO in
On 14 January, Ola Electric declared that its 4680 Bharat Cell platform would be expanded. As part of the effort, companies and startups can now buy the 1.5 kWh 4680 Bharat Cell battery pack or the 4680 Bharat Cells directly for use in portable medical devices, humanoids, automobiles, and
Japanese investment giant SoftBank Group has once again trimmed its stake in Indian electric two‑wheeler maker Ola Electric Mobility Ltd. According to a regulatory filing, SoftBank’s investment arm, SVF II Ostrich (DE) LLC, sold a 2.15% portion of its holding in the company across a series of
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with Nirmal Reddy, President of ETO Motors, who reflects on
Ola Electric announced on 30 December that the International Centre for Automotive Technology (iCAT), Manesar, has certified its flagship electric motorcycle, the Roadster X+ (9.1 kWh), which is powered by an indigenously developed 4680 Bharat Cell battery pack, in accordance with the Central Motor Vehicle Rules (CMVR), 1989. With
According to news reports, JBM Group, which has its headquarters in Gurugram, has signed an exclusive agreement to purchase the bulk of GLIDA, the Finnish state-run energy company Fortum Oyj's Indian electric vehicle (EV) charging network. With the transaction, the third-largest Nordic power firm will completely
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with Bharat Bala, Builder & Chief Electric Officer of AMP,
Ola Electric, a manufacturer of electric vehicles, announced on 23 December that it is expanding its Hyperservice project by opening dedicated Hyperservice Centres that will provide qualified customers with a free same-day service guarantee. Bengaluru will be the first of the company's existing service facilities to be
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with Venkatesh Challa, Director of Keto Motors, who reflects on
India’s startup and business ecosystem remained active on 15th December 2025, marked by early-stage funding momentum and strategic moves by industry leaders. Kids-focused resale platform IPF, legal-tech startup Lawyered, and D2C watch brand Rotoris collectively raised fresh capital to scale technology, expand operations, and strengthen market
In order to improve the nation's whole EV ecosystem, Maruti Suzuki India intends to localise battery manufacture and other essential components over the coming years. In an effort to boost the EV ecosystem as a whole, the firm intends to inspire confidence in consumers by introducing its first
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. India’s EV and last-mile mobility sector is entering a new phase as demand grows for reliable,
The Indian startup ecosystem recorded a dynamic day of early-stage activity on 8th December 2025, with fresh capital flowing into fintech, D2C beauty, med-tech, and the fast-growing Korean QSR segment. Frex, Conscious Chemist, Lumov, and Koriken led the fundraising highlights, securing strategic investments to strengthen product innovation,
The first phase of bulk delivery of Ola Electric's 4680 Bharat Cell-powered automobiles has been announced. The first model to be powered by the company's domestically produced 4680 Bharat Cell battery pack, which offers increased performance, safety, and range, is the S1 Pro+ (5.2
In an effort to improve its after-sales operations, Ola Electric is planning to engage over 1,000 senior service technicians and specialist professionals as part of the next phase of its Hyperservice program, individuals familiar with the matter told PTI. The expansion would greatly augment Ola’s existing after-
India’s startup ecosystem remained active on 1st December 2025, witnessing notable funding momentum across fintech and consumer-appliance sectors. Finfactor and Atomberg led the day with sizeable capital infusions, while Ola Electric expanded its service footprint with a nationwide in-app booking rollout. These developments reflect continued investor confidence
Under its Hyperservice programme, Ola Electric announced on 1 December the nationwide deployment of its in-app service appointment function, which allows users to easily schedule vehicle maintenance. The company's dedication to providing an open, practical, and customer-focused service experience is reinforced by the new feature. The
In order to boost long-term sales in India, American electric vehicle manufacturer Tesla stated that it is considering creating an ecosystem for electric automobiles there. Since beginning deliveries earlier in September of this year, the business has sold 109 vehicles. To speed up the adoption of EVs, it plans
Ola Electric Mobility Ltd., once a favourite of investors, is finding it difficult to pick up steam as its market share declines and share price falls. The SoftBank-backed electric scooter manufacturer is currently having trouble attracting investors for its most recent fundraising attempts after seeing its IPO oversubscribed more
According to various media reports, Volkswagen AG is looking for a local partner to help increase its meagre market share while cutting the expenses of producing electric vehicles in India by a third. As reported by multiple media outlets, the local branch of the largest carmaker in Europe has reduced
ACS Energy has raised ₹1.1 Crore in pre-seed round led by Inflection Point Ventures. ACS Energy Systems is transforming India’s EV world. Having introduced universally compatible chargers for two, three and four wheelers, they’ve now rolled out smart AC chargers and the ACS pay platform, making
India’s startup ecosystem continued its dynamic streak on 11th November 2025, witnessing a mix of high-value fundraises and major market updates across sectors. Fintech, health-tech, and clean energy ventures led the funding momentum, while edtech and EV players made headlines with significant milestones. From Finnable’s INR
For the first time, Ather Energy Ltd's overall revenue—which includes interest on investments—surpassed that of Ola Electric Mobility Ltd., a cross-town rival managed by Bhavish Aggarwal and currently fighting for market dominance. Bengaluru-based Ather Energy reported INR 941 crore in total sales from July
In reaction to recent media accusations claiming a technological breach involving a former LG Energy Solution official, Ola Electric Mobility Ltd. has released an explanation. Declaring that the claimed pouch cell technology is neither a priority of its research nor a component of its business strategy, the corporation rejected the
The world's richest man, Elon Musk, recently became even wealthier after Tesla shareholders accepted his over $1 trillion compensation package for the ensuing ten years. In Austin, Texas, Musk celebrated his big new pay cheque by shaking a leg with Optimus, the humanoid robot that works for his
In an exchange statement on 25 October, Ola Electric Mobility stated that the board had authorised funding up to INR 1,500 crore through the issuance of securities. A plan to raise money through the issuance of shares or convertible securities, including warrants, through rights issues, qualified institutional placements, private
On October 15, Ola Electric shares are anticipated to be the subject of attention due to signs that the firm plans to enter the energy sector in addition to its primary electric vehicle business. Ola Electric, the largest pure-play EV firm in India, said in an official statement that
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Ather Energy’s stock has quietly turned into one of India’s most surprising market stories, jumping over 66% since its debut in May 2025. Its rival, Ola Electric Mobility, has taken a different road altogether, losing nearly a quarter of its value since going public last year. Both companies
According to numerous sites, Elon Musk's companies—Tesla, xAI, and social media platform X—are seeing a number of top departures. According to Reuters, Tesla lost a number of senior officials in 2024, including its chief information officer, head of US sales, and executives in charge of the
Tata Motors appoints Shailesh Chandra as MD & CEO and Dhiman Gupta as CFO from October 1, 2025. Chandra, an EV and strategy expert, will lead the company through growth and challenges, including JLR’s cyberattack disruptions, while continuing his role in electric mobility.
Under the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) programme, the Ministry of Heavy Industries (MHI) has released the operating rules for the installation of EV public charging stations (EV PCS). Under the PM E-Drive programme, the government had set aside INR 2,000
The UK government will support Jaguar Land Rover with a £1.5 billion ($2 billion) loan to alleviate the burden on suppliers caused by the automaker's production stop, which was brought on by a cyberattack. The government announced on 27 September that the loan, which will be given
Catch up on India’s top business and startup developments for 25 September 2025. From Ather Energy’s INR 70 crore ESOP grant and PhysicsWallah’s INR 460 crore offline expansion to Flipspaces’ 9× exit and Virat Kohli-backed WROGN’s FY25 results, here’s your daily roundup of funding,
IPO Subscription Opens on 30th September and Closes on 3rd October Zelio E-Mobility, a rapidly expanding electric two and three-wheeler manufacturer that has been doubling its growth year-over-year, today announced its ₹78 crore SME IPO - a move that signals not just expansion, but a bold declaration
The domain name "blu-smart.com" of the now-defunct electric ride-hailing business BluSmart is for sale. A cursory examination of the BluSmart website showed that users are taken to a parked page indicating that the domain is available for purchase. The development follows a string of
On September 15, Ford Motor Company declared that it would lay off up to 1,000 workers at its Cologne, Germany, electric vehicle production. According to the firm, the decision was made because battery-powered car sales are falling short of projections. According to an AP story, the automaker clarified
Elon Musk buys Tesla's shares after 5 years. It's his biggest ever personal buy, so is it confidence or a strategic move to...
The association marks a defining moment for Indian esports, with Tesla Model Y cars set to be showcased at the grand finals of the country’s most-watched esports event from September 12 to 14.
An electric mobility company, SnapE Cabs has raised $2.5 Mn in Bridge Deck Round led by Inflection Point Ventures, one of India’s largest Angel investing platforms. The funds will be deployed towards operational overheads, leasing EV cars, and product development and enhancement. The round also saw participation from
India’s startup and business ecosystem saw a mix of high-value funding deals, strategic investments, and notable corporate developments on 11 August 2025. From multi-million-dollar raises in AI, biotech, and e-commerce to IPO market activity, EV infrastructure expansion, and regulatory updates, here’s your quick roundup
On August 11, 2025, Tesla formally opened its second dealership in India at Worldmark 3, Aerocity, New Delhi. The well-liked Model Y electric SUV, which is available in two versions—Rear-Wheel Drive (RWD) and Long Range RWD—will be on display at the new Tesla dealership in Delhi.
In 2019, Z47 made their initial investment of INR 107 crore in Ola Electric. The AI startup Krutrim and the ride-hailing company Ola Cabs are also owned by the venture capital fund. Z47 and Tiger Global’s Exit Strategy In October of last year, ET revealed that Z47 is
India's auto industry is clearly changing due to trends in urban consumption, fiscal consolidation, and unequal rural recovery. With trends shifting every quarter, the third-largest auto market in the world is also one of the most volatile. According to a recent study, the first quarter of FY
In an effort to capitalise on the expanding Indian market for electric vehicles, Vietnamese manufacturer VinFast launched its first showroom in India on 27 July in Surat, Gujarat. The company's electric SUV models VF 6 and VF 7, which will be introduced as right-hand drive versions for
According to reports, Tesla and Samsung Electronics have inked a significant chip supply agreement valued at $16.5 billion through 2033. The action is intended to help Samsung's faltering contract chip manufacturing division, which is up against fierce competition from TSMC. Inside the $16.5 Billion Agreement: What
Ohm Mobility, a firm that provides EV financing and leasing, is now closing its doors, joining a growing list of startup closures. Despite many turning points along the way, the five-year-old startup was unable to scale, according to cofounder and CEO Nikhil Nair. Why Ohm Mobility Shut Down:
Mumbai, 24th July 2025 - Bharatsure, one of India’s leading Insurtech companies offering Infrastructure as a Service (IaaS) solutions has raised INR 6 Crores from Inflection Point Ventures (IPV) and other investors including Capital A and Atrium Angels. Bharatsure is pioneering transformation in India's insurtech landscape, unlocking vast
Since the new policy's draft would be subject to public input, which is anticipated to take time, the Delhi government has reportedly prolonged the present electric vehicle regulation until March 31, 2026, or until a revised version is announced. According to a PTI report, the decision was made
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In today’s rapidly shifting Indian economy, two industries are stealing the spotlight: EV (Electric Vehicle) charging stations and cloud kitchens. On one hand, India’s aggressive push toward green mobility, fueled by government incentives and a growing demand for electric vehicles, has opened the gates for EV charging infrastructure.
From a $170M secondary exit in analytics to Tesla driving into India on 15 July 2025, it packed a punch. Plum is betting INR 200 Cr on digital health, WeWork India is IPO-ready, and Infibeam’s rights issue flew off the charts. On the funding front, early-stage bets
With the launch of its first dealership in Mumbai's Bandra Kurla Complex, Tesla has made its debut in the Indian market. The Model Y, which will be priced at INR 59.89 lakh for the entry-level RWD form and INR 67.89 lakh for the long-range
On July 14, Ola Electric, a maker of electric two-wheelers, reported a larger consolidated net loss of INR 428 crore for the first quarter of the fiscal year 2025–2026 (Q1 FY26). In the same time frame last year, the company managed by Bhavish Aggarwal reported a net loss
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As India races toward a greener, cleaner future, the rise of electric vehicles (EVs) is impossible to ignore. That is where Charge Point Operators (CPOs) come in. The companies manage and install EV charging stations and ensure that people can charge their cars whenever they need to. CPOs are helping
Kazam, India’s fastest-scaling EV energy-tech company, has raised $6.2 million in Series B funding from the International Finance Corporation (IFC) and existing investors Vertex Ventures SEA & India and Avaana Capital Advisors. The investment will fuel Kazam’s expansion across markets with its energy transition tools
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This Article has been contributed by Arjun Sinha Roy, Co-founder of iRasus Technologies. One of the key challenges of any tectonic Shift in Technology is the underlying fear of the same. The early days of Aviation, Railways, and Automobiles were often riddled with technology that was unpredictable, hindering widespread
* Fresh funding of $8 million is being raised in Phase 2 of the Series A round led by Ecosystem Integrity Fund (EIF), with participation from Aavishkaar Capital * This funding builds upon the earlier Series A capital of $10 million, raised in November 2024, which was led by Ecosystem Integrity Fund
For its delivery partners in Delhi-NCR, Zomato is testing a fleet of electric vehicle (EV) bikes for rent. The foodtech giant is renting out two-wheeler EVs to its delivery partners as part of the green initiative. The business stated in a statement that, depending on partner uptake, it
Kia, another South Korean automaker, has decreased its ownership in the EV company, while Hyundai Motor has sold off all of its shares in Ola Electric. According to a news agency, the total share sale brought in about INR 6.89 billion ($80 million). Hyundai, which had previously owned 2.
According to a media agency, Heavy Industries Minister H D Kumaraswamy stated on 2 June that Tesla has no plans to produce electric cars in India anytime soon. Although local production is not currently in Tesla's plans, the company is getting ready for a market debut. According to
National, May 27, 2025: As electric vehicles (EVs) gain momentum across India, Webber Electrocorp is emerging as a market leader in Battery Management Systems (BMS), a crucial technology influencing sustainable mobility in the future. The company’s latest trailblazing and industry-first venture, Webber Care Point, is transforming the EV
Maxvolt Energy Crosses ₹100 Crore Benchmark, Achieves ₹107 Cr Revenue in FY 2024-25 Following a robustly successful 2023-24, when revenue grew 253% to ₹48.37 crore, with PAT standing at ₹5.21 crore, Maxvolt Energy Industries Limited, considered one of India’s fastest-growing players in lithium battery
Built in-house at Oben’s Bengaluru R&D centre, this platform will power a new line of affordable electric motorcycles under INR 1 lakh for the mass commuter segment. Oben Electric, India’s leading homegrown R&D driven electric motorcycle manufacturer, today announced that it is working
Vaibhav Taneja, an Indian professional, is making waves around the world as the Chief Financial Officer (CFO) of Tesla, earning an incredible $139.5 million in 2024. It is among the largest compensation packages given to a CFO in history. This amount, which greatly exceeded his base income of $400,
According to reports, EV powerhouse Tesla is getting closer to entering India by establishing an assembly plant in Satara, Maharashtra. According to a media report, the Elon Musk-led company plans to establish a completely knocked down (CKD) plant to assist in controlling the import duties on its components. CKDs
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Established in 2013 and based out of Bengaluru, Ather Energy now plays a major role in the Indian electric two-wheeler market. It is well established for its high-performance electric scooters like the Ather 450 Apex, 450X Pro, and Rizta. The technology has made remarkable feats with remote connectivity,
Ather Energy, an electric two-wheeler company with considerable backing from investors, made its public market entry on Indian stock exchanges this week with an underwhelming response. The company’s IPO, available from April 28 to April 30, had set an offer amount of INR 2,981 crore, of which
Ather Energy made its stock market debut on May 6, 2025, with its shares listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The electric two-wheeler manufacturer's IPO had closed with lukewarm interest, and market analysts had already predicted a cautious start.
Evera Cabs, an app-based electric taxi service provider, announced on 5 May that it has begun the process of reclaiming 500 electric taxis that were formerly run by the troubled BluSmart. According to a statement from Evera Cabs, 220 cars have already been purchased, and the remaining 280 will
Tesla Inc. has firmly denied media reports claiming its board is looking to replace Elon Musk as CEO. The controversy began on April 30, 2025, after The Wall Street Journal (WSJ) published an article suggesting Tesla had quietly initiated a search for Musk’s successor amid concerns about his divided
Under the leadership of Chief Minister Devendra Fadnavis, the Maharashtra Cabinet has approved the new electric vehicle (EV) policy 2025. The new policy aims to increase the state's manufacture and use of electric mobility. The policy will be in place till 2030 and will be implemented with INR
Ather Energy’s highly awaited initial public offering opened with a comparatively tepid response, achieving just over 12% overall subscription on day one. Retail investors were the main driver behind that early subscription lift, with their category achieving 46% subscription by the end of the first day. Meanwhile, non-institutional
Under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) programme, the government is taking this action in an effort to reduce the backlog and guarantee the prompt distribution of EV subsidies.
Not many will celebrate as quietly yet as triumphantly as IIT Madras when Ather Energy hits the stock market this week. Through its investment arms, the IIT Madras Incubation Cell and the IITM Rural Technology and Business Incubator, the institute transformed an early investment of just INR 15–29 lakh
The plan allows authorised EV manufacturers to establish production plants in India for EV four-wheelers with a $500 million minimum expenditure. The programme also imposes a 15% tariff charge on imported EVs.