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EMO Energy Enters Heavy Commercial EV Segment With Battery Platform for Buses and Trucks

Autocar Professional Bureau — Tue, 09 Jun 2026 11:03:57

EMO Energy has announced its entry into the heavy commercial vehicle (HCV) electric mobility segment with the launch of an intelligent battery platform aimed at electric buses, trucks and high-utilisation commercial fleets.

According to the company, the platform combines battery systems, charging technology, thermal management and artificial intelligence-based battery monitoring into a single solution. It has been developed to address operational challenges commonly associated with commercial EV deployments, including downtime, charging delays, overheating and battery degradation.

The platform supports high-voltage architectures of up to 800V and is compatible with both lithium iron phosphate (LFP) and nickel manganese cobalt (NMC) cell chemistries. EMO Energy said it can enable charging in under 30 minutes and incorporates features such as a modular battery architecture, immersion-cooling thermal systems, smart battery management systems (BMS), cell-level health monitoring, predictive diagnostics and advanced safety functions.

The company said the platform has been designed for use across a range of commercial EV applications, including electric buses, heavy-duty trucks, logistics fleets, as well as construction and industrial vehicles.

EMO Energy stated that the platform places a greater emphasis on battery intelligence, uptime and long-term operational reliability rather than battery capacity alone. The company expects the system to help fleet operators improve vehicle utilisation while reducing downtime and supporting lower total cost of ownership. It also includes provisions for second-life battery applications.

The expansion builds on EMO Energy’s existing work with commercial EV manufacturers, where it develops battery systems, charging solutions, thermal management technologies and AI-enabled battery intelligence platforms for commercial mobility applications.

“The future of commercial EVs will be defined not just by battery capacity, but by battery intelligence. At EMO Energy, we’re building intelligent battery systems that help commercial fleets achieve higher uptime, faster charging, and long-term reliability at scale,” said Sheetanshu Tyagi, founder and CEO of EMO Energy.

SML Mahindra Reports 11.6 Percent Growth in Commercial Vehicle Sales for May

Dev Vadchhedia — Mon, 08 Jun 2026 19:44:08

SML Mahindra Limited has released its monthly operational report for May 2026, recording growth across its manufacturing, domestic wholesale, and export delivery channels. According to the statutory compliance disclosure submitted to the Bombay Stock Exchange, the Punjab-based commercial vehicle manufacturer experienced a broad scaling of volumes compared to the corresponding period of the previous fiscal year.

The company’s assembly facilities scaled production up to 1,729 commercial vehicle units during the month, marking an increase from the 1,618 vehicles manufactured in May 2025. On the commercial front, domestic market off-take witnessed a parallel expansion. Total vehicle sales for May 2026 climbed to 1,678 units, registering an 11.6 percent increase against the 1,503 units dispatched to dealerships during the same month last year.

The manufacturer's international business division recorded the sharpest percentage increase, though from a very low volume base. Total export shipments reached 89 commercial vehicles in May 2026, more than doubling the 40 units sent to overseas markets during the same period in 2025.

Tractor Retail Growth Continues While Construction Equipment Volumes Remain Under Pressure

Autocar Professional Bureau — Mon, 08 Jun 2026 10:56:13

According to FADA retail data, tractor sales increased 11.17 per cent year-on-year to 83,092 units in May from 74,744 units last year, while sequential growth stood at 5.96 per cent. Rural markets remained the dominant source of demand, contributing 82.4 per cent of total tractor retail activity.

Tractor retail sales increased 11.17 per cent year-on-year to 83,092 units in May from 74,744 units last year, while sequential growth stood at 5.96 per cent. Rural markets remained the dominant source of demand, contributing 82.4 per cent of total tractor retail activity. Rural tractor sales increased 11.97 per cent year-on-year, compared with 7.55 per cent growth in urban markets.

The segment’s growth aligned with expectations around improved agricultural economics and pre-sowing activity ahead of the Kharif season. Diesel-powered tractors continued to dominate, accounting for virtually the entire market with a 99.99 per cent share.

Mahindra’s tractor businesses maintained leadership, with the tractor division retailing 19,077 units and Swaraj adding 15,205 units. Combined, the group controlled over 41 per cent of total retail volumes. International Tractors retailed 11,120 units while TAFE crossed 10,600 units. Escorts Kubota sold 9,539 units.

In contrast, wheeled construction equipment continued to weaken. Retail sales declined 17.51 per cent year-on-year to 5,088 units and fell 22.93 per cent sequentially from April’s 6,602 units. Both urban and rural markets contracted, although rural markets continued to account for a larger share of volumes at 57.1 per cent.

JCB remained the dominant player with retail sales of 2,265 units and a 44.52 per cent market share. Action Construction Equipment followed with 632 units, while Escorts Kubota retailed 401 units. The decline reflects continued weakness after a high base and softer equipment demand conditions.

Commercial Vehicle Retail Sales Rise 5.29% As Rural Markets Outperform Urban Demand

Autocar Professional Bureau — Mon, 08 Jun 2026 10:47:09

According to FADA’s May 2026 retail data, commercial vehicle retail sales grew 5.29 per cent year-on-year to 83,823 units in May from 79,614 units a year earlier. Sequentially, however, volumes dropped 18.33 per cent from April’s 1.03 lakh units, reflecting slower activity across freight and logistics-linked sectors.

Growth remained uneven across geographies. Rural markets expanded 8.10 percent year-on-year, significantly ahead of urban growth of 2.62 per cent. The rural contribution also increased to 50 per cent of overall commercial vehicle retail activity, indicating broader freight movement beyond metropolitan centres.

Segment-wise, light commercial vehicles continued to lead growth, increasing 7.66 per cent year-on-year to 50,348 units and accounting for approximately 60 per cent of total commercial vehicle sales. Medium commercial vehicles rose 4.71 percent to 7,630 units, while heavy commercial vehicle sales increased marginally by 1.13 percent to 25,797 units, suggesting that last-mile and regional movement remained stronger than long-haul demand.

Diesel remained the dominant fuel choice with an 81.12 percent share, although this declined from 83.50 percent a year ago. CNG penetration increased to 12.39 per cent while electric commercial vehicles expanded their share to 2.86 per cent from 1.37 per cent, indicating gradual diversification.

Tata Motors led retail volumes with 29,603 units and a 35.32 per cent market share, followed by Mahindra at 22,307 units and Ashok Leyland at 14,812 units. VE Commercial Vehicles retailed 7,227 units while Maruti Suzuki sold 3,636 commercial vehicles.

FADA said dealers continued to report steady freight activity and replacement demand, although financing turnaround times, freight costs and insurance expenses remain areas to monitor.

"Our Focus Was On Staying Anchored To Fundamentals": Girish Wagh of Tata Motors on FY26 performance

Shahkar Abidi — Sun, 07 Jun 2026 16:07:06

Fiscal year 2026 was a foundational period for Tata Motors Commercial Vehicles, following its structural transformation into an independently listed, pure-play commercial vehicle entity. MD and CEO Girish Wagh in his FY26 annual report address, characterized the year as one of two distinct halves for the broader industry. The initial months were marked by supply chain dislocations and muted buyer sentiment, but the sector witnessed a decisive rebound in the second half. This recovery was largely supported by structural enablers, including the implementation of GST 2.0 and sustained government infrastructure spending.

In response to these shifting conditions, Tata Motors avoided tactical reactions, choosing instead to anchor its strategy in execution discipline and aligning its supply chain with evolving demand signals.

As per Wagh, the focus on operational consistency resulted in a 14% volume growth for the year, excluding its South Korean subsidiary, Tata Daewoo. The company’s performance was particularly notable in the Heavy Commercial Vehicle (HCV) segment, which achieved its highest market share in a decade at 55%.

The company’s product leadership strategy has been increasingly shaped by the economics of the customer, specifically the total cost of ownership, which calculates the full expense of a vehicle from purchase through its entire operating life. A key milestone in this area was the launch of the Ace Pro, designed as an affordable solution for small entrepreneurs. Simultaneously, the company made the deliberate decision to upgrade its entire truck cabin portfolio to meet stringent European safety regulations. The company introduced 17 next generation trucks and tippers during the fiscal year.

Beyond the manufacturing of core vehicles, Tata Motors is actively building new growth engines in non-cyclical adjacencies such as spare parts, automotive fluids, and fleet management services. The international business emerged as a standout performer, delivering 53.9% growth as the company deepened its penetration in Southeast Asia, Africa, and the Middle East.

In the digital realm, the Fleet Edge telematics platform reached a milestone of one million connected vehicles, allowing fleet operators to use artificial intelligence to reduce fuel consumption and optimize driver behavior. These digital services are evolving from peripheral features into core differentiators that generate recurring value.

Safety and sustainability have been transitioned from parallel agendas to core operating decisions under the company’s "Project Aalingana" framework. The company is pursuing a multi-fuel roadmap toward its Net Zero 2045 goal, which includes battery electric vehicles for urban logistics and hydrogen-powered trucks for heavy-duty, long-haul applications. . The company also introduced "Tatva," a circular economy framework aimed at maximizing the reuse and recycling of materials across the entire vehicle lifecycle.

While near term uncertainties persist, the opportunities in alternate powertrains, digital services and monetization of parts and services remain significant plus point. The proposed acquisition of IVECO, subject to approvals, reflects a deliberate step towards scale, technology access and long term value creation, with integration discipline being key.With resilient operations, improving returns and a clear focus will now be on how the company execute it.

ROCE at 72.3% Puts Tata Motors Among Top‑Tier Global CV Operators, Says Chairman N Chandrasekaran

Shahkar Abidi — Sun, 07 Jun 2026 15:58:44

The 2026 fiscal year began under a veil of cautious optimism, with industry analysts expecting soft inflation and stable global financial conditions. However, this stability was short-lived; by May 2025, the introduction of aggressive U.S. tariffs sent ripples through global trade routes. India’s internal response was decisive, utilizing domestic policy by lowering Goods and Services Tax (GST) rates to jumpstart internal consumption, which successfully bolstered growth in the year's second half.

Despite the progress of major trade agreements with the European Union and the United States, the year ended under the shadow of a crisis in West Asia that erupted in March, bringing with it the specter of stagflation, which is the punishing combination of shrinking economic output and rising prices.

In the face of these external shocks, Tata Motors Limited (TML) reported what N Chandrasekaran, Chairman in company's annual report for FY26, termed a robust performance, hitting historic financial milestones. The company achieved its highest-ever revenue from operations, totaling Rs 83,855 crore, a 9.8% jump from the previous year. This growth was accompanied by a strengthening of the bottom line, with EBITDA margins—a metric showing the company’s operating profit as a percentage of revenue, climbing to 12.3%. Furthermore, the company reported Return On Capital Employed (ROCE), which reached 72.3%. This figure, which measures how effectively a company turns its capital into profit, was noted by the Chairman as being among the highest in the global commercial vehicle (CV) sector.

During the year, Tata Motors boasted of consolidated its market shares, delivering sales volumes of over 4,35,000 vehicles, compared to 3,85,000 vehicles in the previous year, representing a robust year on year growth of 13%. This performance was driven by strong momentum across the ‘Intermediate, Light and Medium Vehicle (ILMCV)’ and Small Commercial Vehicles and Pickups (SCVPU) segments. Additionally, the company had a notable resurgence in its Heavy Commercial Vehicle (HCV) Segment, which achieved its highest market share to 55% in a decade.

A structural change drove much of this progress: the reorganization of the company into eight distinct business verticals This strategy was designed to de-risk the enterprise by creating revenue streams that are not tied to the traditional, often volatile cycles of truck sales. The results seems visible, with non-cyclical segments, such as spare parts and specialized services growing by 18.2% during FY26. Chandrasekaran observed that in the modern economy, "Mobility is no longer a backdrop to economic growth — it is its engine".

The company also took a massive step onto the global stage by announcing the proposed acquisition of the IVECO Group. This deal is expected to provide Tata Motors with an established manufacturing footprint in Europe and Latin America, adding roughly 140,000 annual vehicle sales to its portfolio. The Chairman noted that IVECO’s technology roadmap for advanced powertrains—the engines and transmissions of the future—will be critical as emission norms continue to tighten globally.

Looking ahead, the company is pursuing a dual-track engine strategy: scaling battery-electric vehicles for urban and light-duty tasks, while aggressively investing in hydrogen-based technologies for heavy-duty, long-haul trucking. As Chandrasekaran concluded, "our enduring value lies in what our customers have always counted on... our expanding horizons are defined by where we are taking them next"

India’s Trucks Are Connected. The Next Test Is Performance

Autocar Professional Bureau — Sun, 07 Jun 2026 15:40:10

India moves more than 70 percent of its domestic freight by road, making trucking one of the most important engines of the country’s logistics economy. Over the past decade, that engine has been strengthened through highways, freight corridors, warehousing capacity and larger commercial fleets. AIS 140 now adds a critical digital layer to this physical buildout. By bringing vehicle location tracking, emergency alerts and backend monitoring into the formal transport framework, the mandate has moved commercial mobility from fragmented adoption to a more connected operating environment. That is a meaningful policy achievement that creates the base layer for visibility across India’s commercial transport network. However, visibility is only the beginning.

A device fitted inside a truck can establish compliance. It does not automatically improve mileage, prevent breakdowns, reduce idle time or raise asset productivity. The next phase of connected mobility must therefore move from tracking vehicles to improving how they perform.

Fuel is the Clearest Test of Value

This distinction matters because commercial vehicle operations in India are intensely margin sensitive. A truck is not just a transport asset. It is a daily profit and loss unit. Every avoidable stoppage, inefficient route, delayed repair, idling pattern or fuel
anomaly directly affects operating economics. A higher fuel bill is rarely just a fuel issue. It can point to poor driving behaviour, excessive idling, route inefficiency, overloading, weak vehicle health, pilferage or billing gaps. These losses often appear small when viewed vehicle by vehicle. Across a fleet, route network or operating corridor, they can become a material drag on profitability.

This is where connected vehicle intelligence becomes commercially relevant. Location tracking can show where a truck is. Diagnostics, onboard data and fuel analytics can explain why efficiency is falling. That shift from visibility to diagnosis is the critical change. For fleet owners, the value of connectivity is not in watching vehicles move across a dashboard. It lies in identifying avoidable losses early enough to act.

Converting Leakage into Savings

Once these leakages are visible, the next test is whether fleets can act on them consistently. This is where connected mobility moves from compliance infrastructure to performance infrastructure. The value is not in generating more vehicle data, but in using that data to reduce recurring losses across trips, routes and fleets. This distinction is important because transport economics are shaped by repetition. A few litres of avoidable fuel use, a recurring idle pattern or a delayed maintenance decision may not materially affect one trip. Repeated across hundreds of trips, they begin to affect margins, working capital and asset utilisation. The commercial case for connected intelligence is therefore not built on one dramatic intervention. It is built on the steady removal of preventable inefficiencies.

The potential savings underline the point. With vehicle tracking, diagnostic trouble codes and onboard diagnostics data, annual savings can reach about ₹1.53 lakh per vehicle. With CAN data added, the potential can rise to around ₹3.93 lakh, according to Intangles data. Even at a conservative 25 percent probability, the estimated annual benefit ranges between ₹40,000 and ₹1 lakh per vehicle. For small fleet operators, this can protect working capital. For larger fleets, it can strengthen margin discipline across routes, vehicles and drivers. For the wider auto ecosystem, it shifts connected vehicles from a regulatory requirement to a performance asset. The truck is no longer only producing a compliance record, but generating intelligence that can improve fuel productivity, asset availability and operating economics.

The Next Reform is Trust in Vehicle Data

India’s logistics future will not be shaped only by adding more roads, ports, warehouses or vehicles. It will also depend on how efficiently existing transport assets are used. AIS 140 has created the digital foundation for this shift by connecting commercial vehicles at scale. The next phase must ensure that this connectivity delivers measurable operating value through trusted data, reliable systems and actionable intelligence. For fleet owners, the opportunity is lower leakage and stronger productivity. For OEMs and technology providers, it is a sharper view of vehicle performance in real operating conditions. For policymakers, it is the chance to turn a compliance mandate into a national productivity platform. India has connected the truck. The next test is whether that connection can make every trip more predictable, every litre more productive and every vehicle more profitable to operate.

Ammann India Appoints Prashant Morankar as Head of After Sales Division

Dev Vadchhedia — Fri, 05 Jun 2026 19:28:37

Road construction machinery manufacturer Ammann India has announced the promotion of Prashant Morankar to the position of Head of After Sales. Morankar, a long-standing senior member of the company's internal management framework, possesses extensive operational experience within the domestic construction equipment and infrastructure engineering industry. In his elevated leadership role, he will assume direct responsibility for the company's comprehensive aftermarket services division, focusing on maintenance support, service excellence, and customer satisfaction programs.

The strategic appointment is designed to optimize the manufacturer's localized service delivery mechanisms and reinforce the technical support ecosystem that field operators rely on daily. Company officials indicate that Morankar's deep background in product lifecycle management will guide the execution of specialized technical assistance frameworks across the country, ensuring maximum field reliability and operational uptime for clients.

Ammann India's management expressed confidence that this leadership transition will further strengthen the brand's long-term service benchmarks and deliver exceptional institutional value across its active industrial machinery portfolios.

PMO Advisor Tarun Kapoor Hints at Large Scheme for Electric Truck Adoption, Calls For Faster EV Adoption in 4Ws

Kiran Murali — Fri, 05 Jun 2026 18:49:38

Prime Minister's Office Advisor Tarun Kapoor on Thursday indicated that the government is preparing a larger support programme for electric trucks after an initial pilot under the PM E-Drive scheme, as India looks to reduce diesel consumption and cut dependence on imported fossil fuels.

The goods transport segment would be central to India's energy transition as diesel consumption is about twice that of petrol, he said while speaking at an event organised by the Society of Indian Automobile Manufacturers (SIAM) on the occasion of World Environment Day.

"In the case of trucks, it is heartening to know that several manufacturers are already there in the country. Volumes are very low. But I am quite sure it will grow fast," Kapoor said.

He said the government has earmarked support for about 5,000-6,000 electric trucks under PM E-Drive, though the rollout remains at an early stage. "That was the pilot, which means we just want to drive in these 5,000-6,000 trucks and then come up with a larger scheme," he said.

Under the PM E-Drive scheme, Rs 500 crore has been earmarked as subsidy for trucks with a gross vehicle weight (GVW) above 3.5 tonnes and up to 55 tonnes. The benefit is calculated at Rs 5,000 per kilowatt-hour of battery capacity, capped at 10% of the vehicle’s ex-factory price.

Electric trucks in the N2 category receives a maximum incentive of Rs 2.7 lakh, while those with GVW between 7.5 tonnes and 12 tonnes are eligible for up to Rs 3.6 lakh. Buyers must scrap an older vehicle and obtain a certificate of deposit to claim the subsidy.

Only a few trucks have been sold under this scheme till now. Electrification of trucks remains slow due to high upfront costs, relatively modest incentives, vehicle scrappage requirements and concerns among fleet operators over large-scale deployment.

Kapoor also noted that the recently approved scheme to replace older trucks and buses with electric and CNG models inthe Delhi-NCR region would also help accelerate the deployment of electric trucks.

He added that charging infrastructure remains a key priority, with the government identifying around 60 highways for the installation of charging facilities.

Beyond trucks, Kapoor called for faster adoption of electric vehicles across segments. He said electric three-wheelers could transition immediately, while two-wheeler adoption would require lower costs and innovative financing models.

In passenger cars, he said automakers had expanded consumer choice through new launches but more efforts were needed to improve affordability and charging infrastructure.

"In four-wheelers, what I see is that just recently the Honourable Prime Minister made this call. After that, EV sales have gone up. So, that's a very, very welcome sign. But we need to grow at least 10x on this. We have to go much, much faster," Kapoor said.

Electric Bus Adoption Could Reach 50%, Trucks 35% By 2035: Olectra CEO

Kiran Murali — Fri, 05 Jun 2026 16:36:08

Electric buses is expected account for half of India's new bus sales by 2035, while electric trucks may achieve 35% penetration, according to Olectra Greentech Chief Executive Officer Mahesh Babu. He believes adoption will be driven largely by economics rather than environmental concerns.

Babu noted commercial vehicles are likely to see faster adoption of electric vehicles than passenger vehicles because of their higher utilisation rates and stronger operating cost advantages.

"In India, you can talk anything on emission, everything, but unless you make unit economics work to customers, nobody is going to adopt it," Babu said, while stressing that affordability and cost savings remain the primary drivers of electric vehicle adoption.

He pointed to the three-wheeler segment, where penetration has already reached about 50%, as evidence that consumers easily switch to cleaner technologies when they offer clear financial benefits.

Commercial vehicles currently account for a small share of overall EV sales, but their contribution to transport emissions is disproportionately high because of intensive usage, particularlydiesel. That creates a strong case for faster electrification of buses and trucks, Babu said.

He forecast that electric buses could make up about 50% of the country's bus fleet by 2035, while electric trucks could reach around 35% penetration over the same period. "Whether it is EV or hydrogen or flex fuel, we have to make it economically viable to customers," he added.

Electric buses accounted for an estimated 4.5% of total bus sales in the financial year 2026, with demand largely from public sector under the government-backed procurement programmes such as PM E-Drive and PM eBus Sewa.

Growth is expected to gain momentum with the award of the country's largest electric bus tender for 10,900 buses in December 2025, which is set to boost deployments across multiple cities.

Electrification of freight transport has been slower despite policy support. The PM E-Drive scheme earmarked Rs 500 crore to encourage electric truck adoption, but uptake has remained limited due to high upfront costs, relatively modest incentives, vehicle scrappage requirements and concerns among fleet operators over large-scale deployment.

JBM Bets on Scale, Exports and Fast Charging to Defend Electric Bus Lead

Kiran Murali — Thu, 04 Jun 2026 20:01:52

India’s electric bus market may still be at a relatively early stage compared to China, but the sector is beginning to show signs of moving beyond pilot projects and subsidy-driven deployments into a more scalable and commercially viable phase. For JBM, that transition is already underway.

Nishant Arya believes the company is well positioned to maintain its leadership in the domestic bus market after emerging as India’s largest busmaker last fiscal. Backed by a growing order pipeline, expanding customer categories and increasing global traction, the company is preparing for what it sees as the next major growth phase for electric public mobility.

“We would be looking at maintaining our position because whether with respect to product portfolio or our capacity or our business at large, we are very well positioned,” Arya said, adding that the company’s experience across the ecosystem gives it confidence about future execution.

The optimism comes at a time when electric buses are increasingly becoming central to state transport electrification programmes, airport mobility, staff transportation and private fleet operations. While adoption levels remain far lower than electric two- and three-wheelers, the scale of investments and manufacturing being built around the segment suggests that OEMs are preparing for significantly higher volumes in the coming years.

Scale, Capacity and Execution

One of the strongest indicators of that confidence is JBM’s current order book. According to Arya, the company currently has orders for close to 10,000 buses across different categories and applications.

The demand is not limited to state-run city bus operations alone. JBM says traction is visible across coaches, airport transport, staff mobility and school bus segments as fleet operators increasingly explore electrification opportunities.

“Across cities, across private customers, for coaches, airport vehicles, staff buses, school buses, there is a huge amount of traction,” Arya said.

The company is also relying heavily on manufacturing scale as a competitive advantage. Arya said JBM’s manufacturing facility currently has annual capacity of around 20,000 buses, which he described as the largest bus manufacturing capacity outside China.

That scale could become increasingly important as India’s electric bus market expands over the next decade. Industry participants have repeatedly pointed out that while electric bus demand exists, the challenge often lies in execution capability, charging ecosystem readiness, financing structures and supply chain localisation.

For bus manufacturers, the transition is also more capital intensive than smaller EV segments because of higher battery sizes, infrastructure requirements and fleet integration needs. As a result, players with large manufacturing capacities and integrated ecosystem partnerships are expected to have an advantage as deployments scale up.

JBM’s comments also suggest that the company sees the market gradually shifting from a subsidy-led narrative to a more operational economics-driven model.

The Road to Mass Adoption

Arya drew parallels between the electric bus transition and the rise of electric three-wheelers in India. Electric three-wheelers became one of the earliest success stories in India’s EV transition journey, crossing roughly 50 percent penetration within a relatively short period.

JBM now expects electric buses to eventually move in the same direction. “Electric buses would have 50-60 percent market share by early 2030s, clearly,” Arya said.

According to him, one of the key reasons behind that confidence is improving total cost of ownership economics. He argued that electric buses are increasingly becoming commercially viable without requiring viability gap funding support for operations.

“Given the TCO, there is no viability gap funding required for running electric buses,” he said.

That marks an important shift in the sector’s narrative. In the early years of India’s electric bus push, adoption was heavily linked to government incentives and procurement support. However, falling battery costs, improving operational efficiencies and better charging ecosystems are beginning to alter the economics.

Charging Conversation Also Evolving.

China’s electric bus market scaled rapidly partly due to aggressive charging infrastructure development, including flash charging technologies for larger vehicles. India, however, has largely followed a different route focused on practical deployment models and gradual infrastructure evolution.

Arya said JBM already offers ultra-fast charging capabilities that can charge buses within 30 minutes to one hour, depending on battery size and application.

At the same time, he believes India’s operating environment differs significantly from China’s.

“Indian roads, Indian climatic conditions are different than China,” he said, while adding that current charging approaches are suited to the market’s present requirements.

Still, the company expects future advances in battery technology, charging systems, high-voltage architectures and power electronics to significantly reshape the segment over time.

Those developments could become particularly important as operators demand longer range, lower downtime and better fleet utilisation economics.

Beyond India

While India remains central to JBM’s strategy, the company is also seeing growing international traction for its electric mobility business.

Arya said the company is witnessing interest from markets across Asia-Pacific, the Middle East, Africa, Europe, Central America and South America.

The global push is significant because several emerging markets are now entering phases similar to India’s early electric bus transition, where governments and fleet operators are beginning to evaluate large-scale electrification programmes for public transport.

Indian manufacturers are increasingly viewing this as an export opportunity, particularly as domestic localisation improves and manufacturing capacities rise.

Unlike passenger vehicle exports, electric buses also allow Indian OEMs to position themselves as integrated mobility solution providers with capabilities spanning vehicles, charging infrastructure and fleet support systems.

Asked whether JBM could become bigger outside India over the next five years, Arya indicated that the company is pursuing growth on both fronts simultaneously.

“No, I think JBM would be big inside India and outside India,” he said.

The broader ambition reflects how Indian electric bus manufacturers are beginning to think beyond domestic procurement cycles and positioning themselves within the larger global clean mobility transition.

For now, however, the immediate focus remains execution. With nearly 10,000 buses in its order pipeline and manufacturing scale already in place, JBM’s next challenge will be converting that scale into sustained leadership as India’s electric bus market enters what could be its most defining decade yet

Inside Ultra Gas & Energy's Plans To Scale LNG Refuelling network

Kiran Murali — Tue, 02 Jun 2026 18:48:59

India's push to reduce its dependence on diesel in the trucking sector faces a familiar problem. Transporters are reluctant to switch to LNG-powered trucks due to a lack of confidence in finding fuel along major routes. Fuel retailers, meanwhile, are hesitant to invest in expensive infrastructure until many vehicles hit the road.

Somewhere between those two challenges sits Ultra Gas & Energy Ltd. Part of Essar's green mobility ecosystem, the company is working to establish a nationwide LNG refuelling network to support long-haul freight movement.

This comes at a time when policymakers, fleet operators and energy companies are increasingly looking for alternatives to diesel, driven by concerns over emissions, energy security and rising fuel costs.

"We are at kindergarten stage today," said Maqsood Shaikh, MD and CEO of Ultra Gas & Energy, describing the current state of LNG truck adoption in India.

India has roughly 40 lakh heavy commercial vehicles on the road, but only about 1,350 LNG-powered trucks have been registered so far. LNG remains a niche fuel.

Unlike electric trucks, which continue to face limitations in long-distance freight operations because of battery weight and charging requirements, LNG offers a driving range and payload capability close to diesel.

This, the company believes, makes it attractive for applications such as cement, steel, mining and industrial cargo movement, where trucks routinely cover hundreds of kilometres every day.

"LNG is a high-density fuel as good as diesel in terms of carrying capacity versus kilometre range," Shaikh said.

Ultra Gas forms one part of a broader ecosystem that also includes GreenLine Mobility Solutions, which operates LNG-powered trucking fleets, and Blue Energy Motors, the commercial vehicle manufacturer producing LNG trucks.

Together, the three businesses address what the industry often describe as the chicken-and-egg problem facing alternative fuels.

Blue Energy builds the trucks. GreenLine puts them on the road. Ultra Gas supplies the fuel. The strategy allows the group to create demand and infrastructure simultaneously instead of waiting for one to drive the other.

Ultra Gas & Energy’s focus for now is not on building hundreds of stations overnight. It is about creating operational freight corridors.

The company now operates seven LNG refuelling stations and is expanding across some of India's busiest freight routes, including the Delhi-Mumbai and Mumbai-Chennai corridors. The network is gradually extending eastward towards Kolkata and eventually the Northeast.

According to Shaikh, average utilisation across the existing network is around 75%, while several stations are operating at full capacity. "If you talk about the Delhi-Mumbai and Mumbai-Chennai corridor, it is doing fantastically," he said.

Ultra Gas & Energy plans to expand its LNG refuelling network to around 15 by this August and 20 by March 2027. The company says this network would be enough to cover nearly 98% of India's major freight movement corridors.

Beyond the initial corridor build-out, Ultra Gas is targeting a network of 100 LNG stations by March 2029. The expansion will include eastern freight routes and the Northeast, supported by a combination of new investments and partnerships with fuel retailers.

Rather than relying solely on greenfield investments, Ultra Gas is also pursuing a less visible expansion strategy. The company works with GAIL, Indian Oil, Hindustan Petroleum and Shell to secure fuel supply and gain access to existing infrastructure.

In some cases, it uses idle LNG facilities owned by other operators through tolling arrangements, allowing it to expand network coverage without waiting for entirely new stations to be built.

At present, LNG trucks cost substantially more than diesel-powered vehicles, making them more accessible to large fleet operators than to small transporters.

Many of the trucks currently operating on LNG belong to organised fleet operators that have the scale to evaluate fuel savings and manage infrastructure requirements. Smaller truck owners remain cautious.

While EVs have benefited from government support in various forms, LNG has largely developed without similar assistance. Shaikh believes targeted measures could accelerate the transition.

Among the ideas being pushed by the industry are toll concessions for LNG trucks, incentives linked to vehicle purchases and faster approvals for LNG infrastructure projects.

He also argues that green logistics targets for large corporations could create additional demand for lower-emission freight solutions.

Meanwhile, the broader question is where LNG fits in a future that increasingly includes electric and hydrogen-powered vehicles.

Battery-electric trucks are likely to gain ground in urban and short-haul operations, where charging can be planned and vehicles return to base regularly. Hydrogen may eventually emerge as a long-distance solution if costs fall sharply.

But both technologies face hurdles today. Hydrogen, in particular, remains expensive compared with LNG as of now.

As a result, Shaikh sees LNG acting as a transition fuel over the next decade, particularly in long-haul freight applications where diesel remains dominant. He said the industry’s challenge is less about proving the technology and more about building confidence.

Shaikh said the Ultra Gas is focusing as much on corridors and utilisation as on headline station numbers.

For now, India's LNG trucking story remains a small one. But if the country's freight sector is to reduce its dependence on diesel, the network being built today may prove just as important as the vehicles that eventually use it.

Mahindra Trucks and Buses Registers Mixed Sales Growth in May

Dev Vadchhedia — Mon, 01 Jun 2026 15:14:09

Mahindra & Mahindra Limited has reported an 18 percent year on year growth in overall sales for its trucks and buses business, with total volumes reaching 3,129 vehicles in May 2026 compared to 2,643 units in the same month last year. The commercial vehicle data combines the performance of the Mahindra Trucks & Buses division and SML Mahindra Limited.

The growth during the month was primarily driven by the passenger commercial vehicle category, which registered a 32 percent surge to 1,976 units. Conversely, the combined cargo vehicle segment remained flat, rising just 0.4 percent to 1,153 units as operational headwinds slowed logistics demand.

Within the internal corporate breakdown, the standalone Mahindra Trucks & Buses division posted a 24 percent increase in monthly sales to 1,362 units. Its cargo vehicle sales climbed 10 percent to 809 units, while its passenger carriers jumped 52 percent to 553 units.

SML Mahindra Limited recorded a more moderate overall growth of 15 percent in May 2026, with total sales at 1,767 vehicles. While its passenger vehicle sales rose 26 percent to 1,423 units, its cargo operations experienced a 17 percent contraction, dropping from 413 units last year to 344 units.

Vinod Sahay, Executive Chairman of SML and President of the automotive manufacturing segments at M&M, noted that the commercial vehicle industry faces near-term moderation due to elevated raw material input costs and higher retail diesel prices, which continue to squeeze the profitability margins of domestic fleet operators.

Ashok Leyland May Sales Decline 4% Amid Weak M&HCV Bus Volumes

Autocar Professional Bureau — Mon, 01 Jun 2026 14:52:18

Ashok Leyland reported total vehicle sales of 14,923 units in May 2026, down 4 per cent year-on-year from 15,484 units recorded in the same month last year, as weaker performance in the medium and heavy commercial vehicle (M&HCV) segment offset gains in light commercial vehicles (LCVs).

Combined domestic and export M&HCV sales declined 13 per cent year-on-year to 8,966 units in May, compared to 10,282 units a year ago. Within this, M&HCV truck sales fell 4 per cent to 7,331 units, while bus volumes declined 39 per cent to 1,635 units.

The LCV segment recorded growth during the month, with sales increasing 15 per cent year-on-year to 5,957 units from 5,202 units in May 2025.

In the domestic market, total vehicle sales stood at 14,148 units, down 3 per cent compared to 14,534 units in the corresponding month last year. Domestic M&HCV volumes fell 11 per cent to 8,320 units, impacted by a 35 per cent drop in bus sales, while truck sales declined 5 per cent.

For the year-to-date period, cumulative total vehicle sales, including exports rose 2 per cent to 29,569 units, compared to 28,905 units in the previous year period. Domestic cumulative sales increased 5 per cent to 28,390 units.

LCVs remained the primary growth driver on a cumulative basis as well, with combined domestic and export sales rising 15 per cent year-on-year to 12,301 units during April-May 2026.

Tata Motors Commercial Vehicle Sales Rise 17% In May 2026 To 32,850 Units

Autocar Professional Bureau — Mon, 01 Jun 2026 14:38:11

Tata Motors reported total commercial vehicle sales of 32,850 units in May 2026, registering a 17 per cent year-on-year increase compared to 28,147 units sold in May 2025. Growth was led by stronger domestic demand, while international business volumes declined during the month.

Domestic sales stood at 30,784 units in May 2026, up 19 per cent from 25,872 units recorded in May 2025. International business volumes fell 9 per cent year-on-year to 2,066 units from 2,275 units in the corresponding period last year.

Among segments, sales of small commercial vehicle cargo and pickup models posted the strongest growth, increasing 30 per cent year-on-year to 11,819 units. Passenger carrier sales rose 21 per cent to 5,757 units, while heavy commercial vehicle truck sales increased 11 per cent to 7,877 units. Intermediate, light and medium commercial vehicle truck sales grew 8 per cent to 5,331 units.

Domestic MH&ICV sales reached 13,679 units in May 2026 compared to 12,406 units in May 2025, reflecting a 10 per cent increase. Combined domestic and international MH&ICV sales stood at 14,596 units, up 7 per cent from 13,614 units a year earlier.

The company recently completed its transition from TML Commercial Vehicles Limited to Tata Motors Limited following the implementation of its approved corporate restructuring scheme.

Mahindra Auto Sales Rise 20% To 99,636 Units In May 2026

Autocar Professional Bureau — Mon, 01 Jun 2026 10:17:21

Mahindra & Mahindra reported total auto sales of 99,636 units in May 2026, registering a 20% year-on-year increase, driven by growth in SUV volumes, commercial vehicles and exports.

Domestic utility vehicle sales stood at 58,021 units during the month, up 11% from 52,431 units in May 2025, while total utility vehicle sales, including exports, reached 59,573 units. Passenger vehicle sales mirrored utility vehicle volumes, with no contribution from the cars and vans segment.

Commercial vehicle sales in the domestic market stood at 24,079 units, up 19% year-on-year. Within the segment, light commercial vehicles below 2 tonnes recorded 3,490 units, up 35%, while the 2–3.5 tonne category grew 16% to 20,589 units.

Three-wheeler sales, including electric variants, nearly doubled to 12,536 units compared to 6,635 units in May 2025, reflecting an 89% increase.

Exports rose 37% to 5,000 units during the month from 3,646 units a year earlier.

Commenting on the performance, Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd., said, “In May, we achieved SUV sales of 58,021 units, a growth of 11% and total vehicle sales stood at 99,636, a 20% YoY growth. The sustained demand across our portfolio continues, constrained by supply chain challenges due to manpower shortages at select suppliers.”

For the year-to-date period through May, passenger vehicle sales stood at 114,352 units, up 9% compared to 104,761 units during the corresponding period last year.

Hydrogen CVs Unlikely To Become Mainstream For Years: Hinduja

Darshan Nakhwa — Thu, 28 May 2026 19:38:13

Ashok Leyland, India’s second largest commercial vehicle maker, believes hydrogen-powered CVs will take several years to become mainstream in India, with high infrastructure costs and limited ecosystem readiness continuing to slow large-scale adoption.

Speaking during a post-earnings media call, Chairman Dheeraj Hinduja said hydrogen remains a promising technology for long-distance transportation but is still commercially expensive even in developed markets. “Hydrogen is a good alternative… but it is still a very expensive alternative,” Hinduja said.

India’s commercial vehicle industry has increasingly been exploring multiple clean-fuel technologies, including electric, LNG, CNG, hydrogen internal combustion engines and hydrogen fuel cells, as the sector moves toward lower-emission mobility solutions.

However, Ashok Leyland said electric vehicles and other alternate fuels are likely to gain scale faster than hydrogen in India over the near term.

“Even when you look at some of the more mature markets, Europe, US, hydrogen is going to still take time to really stabilise as an alternative,” Hinduja said. “For India, at least we do not see it becoming a mainstay for quite a few years.”

The company said one of the biggest challenges remains the cost of building hydrogen production, transportation and refuelling infrastructure.

“We definitely feel setting up the infrastructure for it is a lot more expensive than what we believe would be appropriate for this market,” Hinduja said.

Despite the slow adoption outlook, Ashok Leyland said it continues to invest in hydrogen vehicle development to prepare for long-term opportunities in heavy-duty transportation.

Managing Director and CEO Shenu Agarwal said the company is currently running multiple pilot programmes involving hydrogen-powered trucks and buses.

“As an OEM, what our responsibility is right now, that since we see a long-term future in hydrogen in India for long haul, we really want to develop and mature the technology around hydrogen when it comes to trucks and buses,” Agarwal said.

The company is currently testing hydrogen trucks in India and operating hydrogen buses in partnership with state-owned power producer NTPC.

Ashok Leyland also said it is working with government agencies and ecosystem partners to support hydrogen infrastructure development and technology validation.

Industry experts say hydrogen is likely to play a larger role in long-haul trucking, mining and heavy commercial transportation where battery-electric solutions face payload and charging limitations. However, high green hydrogen production costs and lack of refuelling infrastructure continue to remain major barriers globally.

Several Indian commercial vehicle manufacturers, including Tata Motors and Ashok Leyland, are currently testing hydrogen-powered trucks and buses under pilot projects supported by the Indian government’s National Green Hydrogen Mission.

Ashok Leyland Targets ASEAN As Next Export Growth Hub

Darshan Nakhwa — Thu, 28 May 2026 19:14:52

Ashok Leyland is targeting ASEAN as its next export growth hub as the company looks to scale overseas volumes to around 25,000 units over the medium term through deeper localisation, partnerships and ecosystem-led expansion.

Speaking during a post-earnings media call, Managing Director and CEO Shenu Agarwal said after building scale in GCC, Africa and SAARC markets, the company is now shifting focus towards ASEAN.

“Our next home market that we want to target is ASEAN,” Agarwal said. “We already have some initial successes in terms of setting up some distribution channels.”

Ashok Leyland recently signed a memorandum of understanding with Indonesian state-owned defence and mobility company PT Pindad for cooperation in defence and electric mobility. Agarwal said the partnership could help the company strengthen its ASEAN presence across both commercial vehicles and electric mobility.

According to Agarwal, Ashok Leyland’s export strategy differs from traditional vehicle exports because the company focuses on creating “home markets” with local manufacturing, distribution, service and spare-part ecosystems.

The company currently exports commercial vehicles to more than 40 countries and has been steadily increasing overseas volumes over the past few years. Indian commercial vehicle makers are increasingly looking at exports to diversify revenue streams amid cyclical domestic demand patterns.

Agarwal said Ashok Leyland builds long-term local operations rather than relying purely on vehicle shipments from India. “We don't export unless we create the whole ecosystem in any market we want to enter,” he said.

The company already operates a local assembly facility in Ras Al Khaimah in the UAE and is setting up a new plant in Saudi Arabia as part of its GCC expansion strategy.

“We have very strong distribution partnerships which go back several decades. We have parts warehouses, we have service teams for 24/7 response,” Agarwal said.

Chairman Dheeraj Hinduja said the company’s export volumes are expected to grow significantly over the next three to five years, though India would remain Ashok Leyland’s largest market. “We are progressing well on exports volume with a target of 25,000 in medium term,” Hinduja said.

Ashok Leyland’s export business continued to gain momentum in FY26, with total exports rising 13% year-on-year to 18,082 units compared with 15,255 units in FY25. The company’s total commercial vehicle sales, including exports, rose 13% to 2,20,437 units during the fiscal, supported by stronger demand from GCC markets, Africa and SAARC regions.

Ashok Leyland Board Approves Setting Up Wholly Owned Subsidiary in Indonesia

Dev Vadchhedia — Thu, 28 May 2026 18:53:37

The board of directors of Ashok Leyland Limited has approved a proposal to incorporate a wholly owned subsidiary company in Indonesia. The corporate decision was finalized during a board meeting conducted on May 28, 2026..

According to a regulatory filing submitted to the stock exchanges, the establishment of the new international entity remains subject to applicable local laws and necessary regulatory clearances in both jurisdictions. The Chennai-headquartered automotive manufacturer stated that the move is in compliance with disclosure requirements under Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations 2015.

Earlier in February 2026, Ashok Leyland had signed a Memorandum of Understanding (MoU) with PT Pindad, an Indonesian state-owned defence and industrial equipment manufacturer. Key focus areas under the MoU according to the companies were to jointly develop electric buses and defence vehicles.

CV Demand Resilient Despite West Asia Shock: Ashok Leyland CEO

Darshan Nakhwa — Thu, 28 May 2026 18:46:14

Ashok Leyland said demand in India’s commercial vehicle industry remains resilient despite rising diesel prices and global geopolitical uncertainty, driven by GST-led price cuts and an ageing truck fleet that is triggering replacement demand.

Speaking during a post-earnings media call, Managing Director and CEO Shenu Agarwal said industry demand remained resilient in the first two months of FY27 despite global uncertainties. “The CV industry remained quite strong in April, and May is also looking like it will be either at par with or better than last year,” he said.

He said replacement demand in heavy trucks remained particularly strong because fleet ageing levels were at record highs. “The resilience is quite amazing,” Agarwal said. “GST rate cut and the fact that we have a very aged fleet are really creating a lot of resilience at the base of the CV industry.”

India’s medium and heavy commercial vehicle industry witnessed a sharp recovery in the second half of FY26 after the implementation of GST 2.0 reduced ownership costs for several truck categories. Industry executives have said replacement demand accelerated as fleet operators deferred purchases for several years after the pandemic.

Agarwal said structural demand drivers continued to remain intact even as rising oil prices created near-term concerns. “There is no doubt that fundamental factors are still in favour,” he said. “However, there are some disturbances, mainly because of the oil price at the retail level.”

The Indian government-backed oil retailers have effectively raised diesel prices by around ₹7-8 per litre in May 2026 through multiple hikes. Ashok Leyland’s management believes the increase remains manageable for fleet operators.

“So far, the government has increased the price by approximately 7 rupees, which is quite affordable in the way that it will not have any major impact, we believe, on the CV industry,” Agarwal said.

Chairman Dheeraj Hinduja said the recent diesel price hikes had also increased customer interest in electric commercial vehicles, though not enough to trigger a major shift in buying behaviour yet.

“There is definitely a lot more interest in electric vehicles,” Hinduja said. “I wouldn't say that it has led to a substantial change, but there is a lot more interest towards it.”

Ashok Leyland said it remains cautious about geopolitical risks and cost pressures emerging from the West Asia crisis. “Looking forward, we are cautious of global uncertainties but we are confident of navigating these based on strong foundations we have built over the last few years,” Hinduja said.

Chief Financial Officer K.M. Balaji said the company had already started internal cost-control measures to counter potential disruptions from the crisis. “Whatever could be the kind of steps which we can take in the cost containment, we have started taking those steps now,” Balaji said.

The company has also guided for FY27 capex of around ₹800 crore to ₹1,000 crore as it continues investments across products, technology and alternate fuel programmes.