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What Happened: JBM Auto’s arm has secured ₹750 crore in funding from Motilal Oswal to support the expansion of its electric bus rollout. The capital is expected to strengthen fleet deployment and execution capacity as India’s e-bus market scales up. The Key Number: ₹750 crore. Why It Matters: This is a strong financing signal for India’s electric bus ecosystem, where large upfront costs often slow deployment. Fresh funding can accelerate production, procurement, and route expansion for clean public transport.

JBM Auto arm gets ₹750 crore funding from Motilal Oswal to expand e-bus rollout

JBM Auto’s arm has secured ₹750 crore in funding from Motilal Oswal to support the expansion of its electric bus rollout. The capital is expected to strengthen fleet deployment and…

By Piyush

25 June 2026

EV News

Tata Motors secures 3,400 ECV orders signals scale-up of electric commercial mobility in India

4 Min Read

EV News EV Tech

VINFAST INDIA PARTNERS WITH TATA CAPITAL TO STRENGTHEN DEALER FINANCING ECOSYSTEM

5 Min Read

Govt introduces phased localisation of key EV components for e-ambulances

5 Min Read

Ashok Leyland Signs First MoU for Electric Fleet Upgrade Scheme

4 Min Read

Skoda’s EVs Plans For India – 7-Seater Peaq & Affordable Electric Car

AVILOO Launches First Battery Warranty for Used EVs

4 Min Read

India turns electric buses into a new tool of Global South diplomacy

What Happened: India is increasingly using electric bus diplomacy to strengthen strategic partnerships with neighbouring…

By Piyush

EV News Policy

EV Policy Announcement Soon

What Happened: The Gujarat government is expected to unveil a revised electric vehicle (EV) policy…

By Piyush

Blog EV News

Ather Board Approves ₹2,500 Crore Fundraising Plan to Support Expansion

What Happened Ather Energy's Board of Directors has approved a proposal to raise to ₹2,500…

By Piyush

EV News EV Tech

Mercedes-Benz launches S-Class plug-in hybrid in India at ₹2.20 crore

What Happened Mercedes-Benz India has launched the facelifted S-Class with its first-ever plug-in hybrid (PHEV)…

By Piyush

BEAM Partners With Isthara To Bring Shared Electric Two-Wheelers Across IIT Campuses In India

By Ankit Sharma

4 Min Read

EV News EV Tech

World’s Largest EV Maker BYD Bets on Its Dual-Mode Technology to Grow India Portfolio

By Piyush

5 Min Read

EV News

Skoda’s EVs Plans For India – 7-Seater Peaq & Affordable Electric Car

By Piyush

5 Min Read

EV News

Dana-Eaton $5.1-billion deal set to reshape India’s EV, CV supply chain

By Piyush

5 Min Read

EV Global EV News

Xiaomi unveils robotic EV charger after Tesla abandoned the Idea

What: Xiaomi has unveiled a home-charging robotic arm that can automatically plug in and unplug…

By Piyush

3 Min Read

EV News others

FADA data reveals 81% surge in EV passenger vehicle retail

What: India's electric passenger vehicle market recorded a sharp rise in retail sales during May 2026, with EV passenger vehicle registrations increasing by 81.2% year-on-year, according to the latest data…

By Piyush

12 June 2026

EV News EV Tech New product

BYD DM-i Plug-In Hybrid Technology For India Promises 1,200km+ Range

By Piyush

5 Min Read

EV News

GM to offer EV owners ability to sell power to US electricity grid

By Piyush

4 Min Read

EV News

Ultraviolette F77 becomes India’s first motorcycle to complete Isle of Man TT Mountain Circuit

By Piyush

4 Min Read

Market Insights

BEAM Mobility on Building India’s Certified Low-Speed EV Category

While most of India's electric two-wheeler industry races toward higher speeds, longer ranges, and premium positioning, BEAM Mobility has deliberately chosen the opposite direction — and is building a serious…

By Ankit Sharma

12 June 2026

EV News Policy

LDA plans EV charging stations in all upcoming high-rises

By Piyush

5 Min Read

EV Global EV News EV Tech

EMO Energy enters heavy commercial EV segment with battery platform for buses and trucks

What: EMO Energy has entered the heavy commercial EV segment with a new battery platform…

By Piyush

5 Min Read

Business

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India’s First Advanced Electric Vehicle Centre of Excellence by L&T EduTech Established at Galgotias University with Live EV Systems

What: Galgotias University and L&T EduTech have established India's first Advanced Electric Vehicle Centre of…

By Piyush

5 Min Read

UBE Maxell to expand lithium-ion battery separator capacity at Sakai Plant as EV demand surges

4 Min Read

Ather Energy Turns To Rs 1 Trillion RDI Scheme For EV Growth

5 Min Read

Haryana Amends Building Code To Mandate EV Charging Infra In New Buildings

5 Min Read

Insider

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Govt targets 30% electric vehicles by 2030 to reduce fuel use in Bihar

The Quick Update What: The Bihar government has set a target for 30% of all…

By Piyush

5 Min Read

8 Electric Cars In India With Assured Buyback Schemes: Maruti Suzuki eVitara To Tata Punch.EV

6 Min Read

Odisha to Set Up EV Charging Stations Across Urban Areas, SOP Issued

5 Min Read

IIT Roorkee and SkyySkill Academy Partner to Launch Electric Vehicle Training Courses

6 Min Read

Health

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JSW Motors Secures Rs 8000 Crore SBI Funding for New Energy Vehicle Venture

What: JSW Motors Secures Rs 8000 Crore SBI Funding as the Sajjan Jindal-led automotive venture…

By Piyush

5 Min Read

Mooving Expands EV Battery Swapping Network Across India

5 Min Read

One in Four Cars Sold Globally Is an Electric Vehicle

4 Min Read

𝘞𝘦𝘯𝘵𝘦𝘳𝘴 𝘵𝘩𝘦 𝘭𝘢𝘴𝘵-mile logistics race with purpose-built EV cargo platform

5 Min Read

Entertainment

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Haryana cabinet approves new rules: No petrol, diesel vehicles for cab aggregators in NCR

What: The Haryana government has approved new aggregator licensing rules that ban the addition of…

By Piyush

6 Min Read

Ultraviolette and Bolt.Earth Expand Type-6 DC Fast Charging Infrastructure Across India

Ultraviolet and Bolt. Earth Expand Type-6 DC Fast Charging Infrastructure Across India

5 Min Read

What: India’s finance ministry has directed public sector banks, insurers, and financial institutions to reduce operational spending and accelerate adoption of electric vehicles across official fleets. The move is part of a wider austerity push linked to rising global economic uncertainty and fuel-related risks. The Number: The directive impacts major public institutions including State Bank of India, Bank of Baroda, and Life Insurance Corporation of India, covering millions of employees and thousands of operational vehicles nationwide. The Impact: The policy signals a new phase of institutional fleet electrification in India, where EV adoption is now being tied directly to fiscal discipline, fuel import management, and public-sector operational efficiency. The Core News India’s finance ministry has formally instructed state-run financial institutions to implement strict expenditure controls while simultaneously accelerating EV adoption for official transport operations. The directive from the Department of Financial Services asks organisations to replace petrol and diesel vehicles used at head offices and branch operations with electric vehicles “as far as possible.” The order comes amid growing concern over the economic impact of prolonged geopolitical instability in West Asia, which threatens to increase crude oil prices, widen India’s import bill, and pressure the rupee. Alongside the EV transition mandate, the government has also pushed virtual meetings, reduced foreign travel, and tighter administrative spending controls across public-sector institutions. For India’s EV ecosystem, the directive is strategically important because it expands demand visibility beyond state transport undertakings and government departments into the financial sector itself. PSU banks and insurers operate one of the country’s largest distributed office networks, including regional offices, branch fleets, field operations, and administrative mobility services. Even a phased transition could create a sizeable procurement pipeline for electric passenger vehicles, charging infrastructure providers, and fleet management companies. Breaking Down the Update • The Department of Financial Services issued the austerity and EV adoption directive to PSU banks, insurers, and financial institutions. • The government wants petrol and diesel vehicles used in official operations to be progressively replaced by EVs wherever operationally feasible. • The policy push follows Prime Minister Narendra Modi’s appeal for fuel conservation and controlled discretionary spending amid global energy uncertainty. • The directive also mandates greater use of video conferencing to reduce travel-related operational expenditure. • The move could indirectly support domestic EV OEMs, leasing firms, and charging infrastructure operators through institutional procurement demand. • The banking and insurance sector may emerge as a new enterprise fleet electrification category in India’s EV transition roadmap. How PSU banks EV adoption will help Indian EV Market The expansion of PSU banks EV adoption could create a strong institutional demand layer for India’s electric mobility sector. Public sector banks and insurers operate thousands of branch offices across urban, semi-urban, and rural India. Their transition to EV fleets can generate predictable procurement volumes for domestic automakers, especially in the electric sedan, compact SUV, and commercial mobility segments. Beyond vehicle sales, the policy may also accelerate deployment of workplace charging infrastructure at bank headquarters, zonal offices, and regional branches. This can support charger utilisation economics while helping normalise EV infrastructure in tier-2 and tier-3 cities. Another important impact is signalling. When large state-linked financial institutions adopt EVs as operational assets rather than pilot projects, it improves confidence across the broader enterprise mobility market. Private banks, NBFCs, and insurance firms could eventually follow similar fleet transition models to reduce long-term fuel and maintenance costs. PSU banks EV adoption also aligns with India’s larger energy security strategy. Lower petroleum consumption in institutional fleets directly supports efforts to reduce crude import dependence while stabilising operational expenditure during periods of volatile global oil prices. Conclusion & Next Steps The government’s push toward PSU banks EV adoption reflects a broader shift where EV deployment is increasingly being linked with macroeconomic resilience rather than only sustainability targets. Execution, however, will depend on procurement timelines, charging infrastructure readiness, and operational suitability across

India directs state-run banks, insurance firms to cut costs, shift to EVs

5 Min Read

India directs state-run banks, insurance firms to cut costs, shift to EVs

5 Min Read

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