IFC Invests Rs 1.7 Bn in Transvolt to Boost Electric Vehicle Output

21 Jul 2025 CW Team

IFC, a member of the World Bank Group, announced on Friday a USD 20 million equity investment in Transvolt Mobility Pvt Ltd to expand electric vehicle (EV) production.

This USD 20 million contribution forms part of Transvolt’s USD 50 million financing round, said the World Bank arm that supports private sector growth in emerging markets.

“This is IFC’s first equity investment in an EV platform globally and in India. It will enable Transvolt to scale its electric fleet to 3,500 vehicles and create 8,200 jobs over the next five years. It will also support the company’s long-term goal to deploy 8,000 heavy commercial EVs, including buses and trucks, across India,” the statement added.

Vikram Kumar, IFC’s Regional Industry Director for Infrastructure & Natural Resources in Asia-Pacific, said, “Transvolt has been a key partner. Through our collaboration, we aim to enhance competitiveness by electrifying public and private fleets operated by municipalities and corporations, demonstrating the commercial viability of electric fleets, and expanding access to quality urban transport.”

Dheeraj Jhawar, director and co-founder of Transvolt Mobility, said that with IFC’s support, the company intends to accelerate the transition to sustainable transport and develop inclusive solutions aligned with national and global sustainability goals.

India’s ambitious clean mobility plan targets electrifying 800,000 buses, replacing 10 per cent of diesel trucks with 400,000 electric trucks, and achieving 18 per cent electrification of small commercial vehicles (SCVs) through 111,000 e-SCV deployments.

This shift offers an opportunity to invest in scalable EV solutions across public and private fleets and is expected to mobilise an estimated USD 200 billion to meet India’s targets.

Since FY23, Transvolt has deployed 500 heavy commercial EVs and established a strong presence in sectors including municipal corporations, corporate employee transport, and haulage for leading cement manufacturers.

IFC, a member of the World Bank Group, announced on Friday a USD 20 million equity investment in Transvolt Mobility Pvt Ltd to expand electric vehicle (EV) production.This USD 20 million contribution forms part of Transvolt’s USD 50 million financing round, said the World Bank arm that supports private sector growth in emerging markets.“This is IFC’s first equity investment in an EV platform globally and in India. It will enable Transvolt to scale its electric fleet to 3,500 vehicles and create 8,200 jobs over the next five years. It will also support the company’s long-term goal to deploy 8,000 heavy commercial EVs, including buses and trucks, across India,” the statement added.Vikram Kumar, IFC’s Regional Industry Director for Infrastructure & Natural Resources in Asia-Pacific, said, “Transvolt has been a key partner. Through our collaboration, we aim to enhance competitiveness by electrifying public and private fleets operated by municipalities and corporations, demonstrating the commercial viability of electric fleets, and expanding access to quality urban transport.”Dheeraj Jhawar, director and co-founder of Transvolt Mobility, said that with IFC’s support, the company intends to accelerate the transition to sustainable transport and develop inclusive solutions aligned with national and global sustainability goals.India’s ambitious clean mobility plan targets electrifying 800,000 buses, replacing 10 per cent of diesel trucks with 400,000 electric trucks, and achieving 18 per cent electrification of small commercial vehicles (SCVs) through 111,000 e-SCV deployments.This shift offers an opportunity to invest in scalable EV solutions across public and private fleets and is expected to mobilise an estimated USD 200 billion to meet India’s targets.Since FY23, Transvolt has deployed 500 heavy commercial EVs and established a strong presence in sectors including municipal corporations, corporate employee transport, and haulage for leading cement manufacturers.

Infrastructure Transport

21 Jul 2025

Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

Kolkata: Syama Prasad Mookerjee Port, Kolkata (SMPK), signed a Memorandum of Understanding (MoU) on Tuesday with PS Group Realty Private Limited to redevelop and beautify Nimtala Ghat as part of PS Group’s Corporate Social Responsibility (CSR) initiative.The agreement was formalised at SMPK’s Head Office at 15, Strand Road, in the presence of SMPK chairman Rathendra Raman, deputy chairman Samrat Rahi, PS Group directors Saurav Dugar, Gaurav Dugar, Arun Sancheti, and senior SMPK officials.Under the MoU, PS Group will undertake the full redevelopment and permitted construction of Nimtala Imm..

Infrastructure Urban

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In a move towards sustainable plastic waste management, Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Covestro (India) Private Limited on Wednesday to develop innovative upcycling technologies for polyurethane waste.Polyurethane is notoriously difficult to recycle, with current methods often proving inefficient, costly, and environmentally harmful. This collaboration aims to address existing challenges, including high energy usage and deterioration of material quality during recycling.Ashish Lele, director of CSIR-NCL, stated, “This p..

Infrastructure Urban

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Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

Ahmedabad-based Torrent Pharmaceuticals has sought clearance from the Competition Commission of India (CCI) to acquire a majority stake in J B Chemicals and Pharmaceuticals in a Rs 195 billion deal.Upon completion, Torrent Pharmaceuticals will become India’s second most valuable pharmaceutical company.The move follows Torrent’s June announcement to acquire a majority stake in J B Chemicals for Rs 195 billion.“The proposed combination pertains to the acquisition of shareholding by Torrent Pharmaceuticals Ltd in J B Chemicals & Pharmaceuticals Ltd, followed by the merger of the target ..

IFC Invests Rs 1.7 Bn in Transvolt to Boost Electric Vehicle Output

Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

CSIR-NCL and Covestro Collaborate to Upcycle Polyurethane Waste

Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

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