BikeWo Green Tech plans to scale its operating fleet to approximately 10,000 vehicles during FY2026-27, funded through a preferential issue of warrants worth more than ₹76 crore. The company is also expanding into EV asset ownership, leasing, fleet operations and technology-enabled logistics under its new BikeWo Ascend strategy.
As part of the expansion, BikeWo has entered into contracts with Reliance Industries’ Bio Energy Division for the hiring and deployment of specialised electric tractors. The contracts have an estimated aggregate value of ₹66.46 crore and are valid until July 2033.
The electric tractors will be used with specialised loader, catcher and grabber applications, along with associated driver and vehicle-operation services. The deployment extends BikeWo’s stated EV applications into bio-energy and biomass-handling operations.
BikeWo’s ₹66.46 Crore Reliance Contract
The Reliance engagement forms part of BikeWo’s move into specialised fleet applications. The company said its expansion will cover last-mile, mid-mile and long-mile transportation, enterprise mobility, specialised fleet operations and related mobility infrastructure.
BikeWo CEO Hiten Pal Saklani said the company’s focus is shifting from selling vehicles towards the infrastructure, operations and technology required to deploy and operate electric vehicles across different applications. He cited the bio-energy deployment as an example of EVs being used outside conventional transportation.
The company has described the broader strategy as BikeWo Ascend, covering EV asset ownership and leasing, fleet deployment, specialised mobility applications, operating partnerships, lifecycle support and technology-enabled logistics.
BikeWo Targets 10,000-Vehicle Fleet In FY2026-27
The planned 10,000-vehicle fleet is a management target for FY2026-27 rather than an achieved figure. The company said the expansion will be supported by a preferential warrant issue of more than ₹76 crore, with the issue subject to subscription, exercise and applicable terms.
Saklani said the company's approach to scale involves building operating capabilities around the vehicles, including assets, partners, technology and operating capabilities for different mobility requirements.
BikeWo has also appointed Sumanth Badiga to its Advisory Board. Badiga has more than three decades of experience in the automotive and transportation sectors.
BikeWo’s Fleet Operations And Financial Background
BikeWo was incorporated in Telangana in 2016 and initially operated as a multi-brand electric two-wheeler retailer. It moved into fleet operations in 2025 and listed on NSE Emerge in September 2024, raising ₹24.09 crore.
For the year ended March 2026, the company reported consolidated revenue of ₹54.49 crore, up 132 percent, while net profit increased to ₹4.50 crore from ₹0.88 crore in the previous period.
BikeWo said it is pursuing acquisitions, investments and collaborations across electric mobility, fleet operations, logistics infrastructure and technology as it expands its participation in India’s mobility and logistics value chain.
BikeWo states that the ₹66.46 crore Reliance contract figure is indicative and estimated, and is not binding on the customer for fulfilment. Actual revenue will depend on services deployed and executed under the contractual terms.