India's electric vehicle sector is no longer only about scooters and charging points. Recent announcements point to heavy trucks, battery materials, retrofits, buses and new investment money all moving at once.
Commercial Vehicles Take Centre Stage
JSW Greentech has launched AMPSTAR, a dedicated brand for electric trucks and buses. The group is putting in about ₹2,500 crore to begin with and aims to build capacity for 100,000 commercial EVs a year by 2030. With its manufacturing scale and industrial customer base, JSW's entry is being read as a serious, long-term commitment.
Montra Electric has also struck a deal to deploy 250 Rhino trucks with Wonder Cement. That shift, from small trial fleets to real commercial work, suggests the electric truck market is entering a new phase where economics will be tested properly.
Investors Spread Their Bets
Ultraviolette, which makes premium electric motorcycles, raised $85 million in Series E funding led by Yali Capital and TDK Ventures. The money will support manufacturing, new products and overseas expansion.
At the other end, Drivn Transition picked up ₹45 crore from Avaana Capital. The firm works on commercial EV leasing and fleet electrification rather than building vehicles. Together, the two deals show investor money flowing into many different kinds of EV businesses.
Battery Plans Grow
Maxvolt has started work on a ₹700 crore battery factory in Aligarh, planned in two phases of 5 GWh each. If completed as proposed, it would offer around 10 GWh of yearly capacity.
PCBL Chemical is also entering conductive carbon and silicon-based anode materials. This hints at companies trying to build more of the battery supply chain within India, not just assemble packs.
Retrofits and Buses
Exponent Energy has converted roughly 200 petrol or diesel autorickshaws to electric in Bengaluru. These vehicles have together covered about 1.5 million km. The company targets 40,000 conversions in two years and plans to enter Delhi-NCR, Chennai and Hyderabad.
On public transport, Delhi has approved 150 more electric buses, while around 500 were arranged for visitor movement during the UP International Trade Show.
Two-Wheelers Continue
Honda has priced its QC3 electric scooter at ₹1.35 lakh. It carries a 3 kWh battery with a claimed 145 km IDC range. Ather signed talent partnerships with four institutions near Chhatrapati Sambhajinagar and set up a Hong Kong unit for procurement work.
Creatara Mobility began production at a Faridabad plant with capacity for about 30,000 electric two-wheelers a year. Hindustan Motors has approached the West Bengal government about EV manufacturing at Uttarpara.
Penetration Rises
Registration data linked to FADA shows passenger EV share climbing from roughly 3.6% in January to 7.63% in August 2026. Monthly numbers will move around, but the direction is clear.
What Lies Ahead
The big question for the sector is changing. It is less about whether adoption will grow and more about which parts of the value chain can become lasting, profitable businesses. Trucks, batteries and fleet financing look like the areas to watch.