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SIDBI grants Rs 12.45 crore to ETO Motors to deploy 300 Electric 3-wheelers in Delhi and Hyderabad

IndianStartupNews

IndianStartupNews · 1y ago

SIDBI grants Rs 12.45 crore to ETO Motors to deploy 300 Electric 3-wheelers in Delhi and Hyderabad

The Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO Motors for the deployment of 300 Electric 3-Wheelers (E3W) in Delhi and Hyderabad. This funding is part of SIDBI's Mission 50K-EV4ECO scheme, aimed at strengthening the EV ecosystem in India by providing affordable financing for electric vehicles and developing a robust charging infrastructure. ETO Motors plans to deploy the E3Ws in the next three months and establish 180 charging points in the two cities. The vehicles will be manufactured with a focus on safety and advanced technology.

Related News

Ola launches e-bike services in Delhi and Hyderabad, announces fares

Livemint

Livemint · 1y ago

Ola launches e-bike services in Delhi and Hyderabad, announces fares

Ride-hailing platform Ola has launched e-bike services in Delhi and Hyderabad, with fares starting from ₹25 for a 5 km ride. The company plans to deploy 10,000 electric two-wheelers across three cities within the next two months and aims to have the largest EV 2W fleet in India. Ola has also set up 200 charging stations in Bengaluru to service its e-bike fleet. The move is part of Ola's vision to serve 1 billion Indians and promote nationwide electrification.

Startup news and updates: Daily roundup (January 20, 2025)

YourStory

YourStory · 8m ago

Startup news and updates: Daily roundup (January 20, 2025)

AI technology reunites missing children with families through advanced facial recognition, exemplified by 12-year-old Aditya's case in Delhi. In business news, One97 Communications, Paytm's parent company, reports a Q3 net loss, contrasting previous profits. Krvvy, a lingerie brand, raises funds for expansion, while ProcureYard secures capital for growth. ETO Motors partners with Uber for electric vehicle initiatives, and Relata expands into Dubai. Bharti Airtel and Bajaj Finance collaborate on financial services, and The ePlane Company advances in eVTOL aircraft certification.

Zypp Electric plans to deploy 1 lakh electric two-wheelers, enhance ties with Indofast Energy

Economic Times

Economic Times · 7m ago

Zypp Electric plans to deploy 1 lakh electric two-wheelers, enhance ties with Indofast Energy

Zypp Electric plans to deploy 100,000 electric two-wheelers in collaboration with Indofast Energy, a joint venture between IndianOil and SUN Mobility, over the next 12-18 months. This initiative will cover major Indian cities, aiding delivery partners and enterprises. Indofast Energy's battery swapping infrastructure will support this, offering riders unlimited range and minimal downtime. The extensive swap station network in cities like Delhi NCR and Bengaluru ensures efficient battery access, promoting electric vehicle adoption.

Cosmic Birla Group plans to build EV facility in Bengal

Thehindubusinessline

Thehindubusinessline · 1y ago

Cosmic Birla Group plans to build EV facility in Bengal

Cosmic Birla Group, a Kolkata-based company, is planning to establish a production facility in West Bengal for electric two-wheelers. The group aims to extend its offerings to electric three-wheelers and cars in the commercial vehicle sector, with plans to produce three-wheelers by the financial year 2026-27. The production capacity of the facility in West Bengal is expected to be 15,000 vehicles per year. Cosmic Birla Group entered the electric mobility space by acquiring Raft Motors in Maharashtra and has recently launched four models of electric scooters under the brand Raft Cosmic EV.

Startup news and updates: Daily roundup (June 9, 2025)

YourStory

YourStory · 3m ago

Startup news and updates: Daily roundup (June 9, 2025)

YourStory's daily roundup highlights key developments: Fraxus3D uses AI to revolutionize 3D modeling and printing for industries, while Meta considers a $10B investment in Scale AI, marking a significant tech funding deal. Roomstory.ai secures Rs 3 crore for its AI shopping assistant, and ETO Motors partners with Cashurdrive for sustainable marketing. Additionally, Namma Yatri collaborates with Covrzy for driver health coverage, and Meritto launches AI-enhanced educational tools for improved institutional outcomes.

Ola expands ebike service to Delhi, Hyderabad; To deploy 10,000 EVs in next 2 Months

Inc42 · 1y ago

Ola expands ebike service to Delhi, Hyderabad; To deploy 10,000 EVs in next 2 Months

Ride-hailing giant Ola has expanded its electric bike (ebike) service to Delhi and Hyderabad. The company plans to deploy over 10,000 electric vehicles (EVs) in these two cities in the next two months. Ola aims to double down on its ebike service and expand it across India by the end of the year. The service, which has garnered success in Bengaluru, charges INR 25 for every 5 km. Ola also plans to set up an extensive charging network to support its EV fleet.

Amazon India partners with Gentari for 10,000 EV fleet by 2025

YourStory

YourStory · 1y ago

Amazon India partners with Gentari for 10,000 EV fleet by 2025

Amazon India has announced a strategic partnership with Gentari, an electric mobility company, to deploy 10,000 electric vehicles (EVs) for its last-mile deliveries by 2025. Under this collaboration, Gentari Green Mobility Business will procure and deploy the EVs while providing fleet management services to ensure smooth operation and maintenance. The partnership aims to provide Amazon's Delivery Service Providers with more access to electric three-wheelers for deliveries. Currently, Amazon has already deployed over 7,200 EVs in India and plans to continue its expansion towards achieving its 10,000 EV goal.

Ola, Tata Motors continue to lead market in electric two-wheeler, passenger vehicle segments

Thehindubusinessline

Thehindubusinessline · 1y ago

Ola, Tata Motors continue to lead market in electric two-wheeler, passenger vehicle segments

According to the Federation of Automobile Dealers Associations (FADA), Ola Electric and Tata Motors are leading the market in retail sales of electric two-wheelers (e2W) and passenger vehicles (PV) respectively. Ola Electric sold 32,252 e2W units in January, while Tata Motors sold 5,591 EV units. TVS Motor and Bajaj Auto were also significant players in the e2W segment. The total retail sales of e2W grew by 26.14% YoY. In the luxury car segment, BMW India and Mercedes-Benz India were the top performers. The electric three-wheeler segment saw a YoY growth of 54.45%.

Battery-swapping startup Sun Mobility to power 30,000 electric scooters for Bounce Infinity

Economic Times

Economic Times · 1y ago

Battery-swapping startup Sun Mobility to power 30,000 electric scooters for Bounce Infinity

Sun Mobility, a battery-swapping startup, has announced a partnership with Bengaluru-based startup Bounce Infinity to power and deploy 30,000 electric scooters in key markets including Bengaluru, Hyderabad, Mumbai, Pune, and Delhi. Through this collaboration, customers will be able to utilize Sun Mobility's battery swapping network, making clean and affordable commuting accessible. The two firms also plan to expand the solution to export markets. Sun Mobility currently operates over 600 battery-swapping stations across 19 Indian cities.

Magenta Mobility to Deploy Over 250 EVs For Logistics Tech Platform MOVER

OutlookIndia

OutlookIndia · 3m ago

Magenta Mobility to Deploy Over 250 EVs For Logistics Tech Platform MOVER

Magenta Mobility will deploy over 250 electric vehicles for the logistics platform MOVER, enhancing operations in key metropolitan areas such as Delhi NCR, Hyderabad, Bengaluru, and Chennai. This partnership aims to improve delivery capabilities, reduce costs, and support environmental goals through an expanded delivery window and better fulfillment rates. With lower maintenance needs and zero emissions, the initiative ensures sustainable logistics, aiding MOVER in maintaining efficient services even in densely populated areas. The collaboration plans to extend to more cities within two years.

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