Ravindra Energy Associate 'Energy in Motion' to Deploy 1,000 Electric Heavy-Duty Trucks

Ravindra Energy Limited (NSE: RELTD, BSE: 504341) has announced a landmark development in its electric vehicle (EV) business. Its associate entity, Energy in Motion Limited (EIM), in which Ravindra Energy holds a 49.5% stake, has signed a Memorandum of Understanding (MoU) with EV leasing platform Drivn to deploy 1,000 electric heavy-duty commercial vehicles across India over the next two years.

This partnership is set to revolutionize the heavy-duty logistics sector by combining vehicle supply, specialized financing, and innovative energy solutions to lower entry barriers for fleet operators.

A Disruptive Business Model: "Bare" Trucks & Swappable Batteries

The collaboration leverages EIM's unique manufacturing and energy approach. Unlike traditional EV models, EIM focuses on:

Battery-Swapping Technology: Solving the long charging downtime associated with heavy-duty trucks.

Cost Efficiency: Selling "bare" electric tractors without the expensive battery packs, which significantly reduces the upfront acquisition cost for transporters.

Energy as a Service: Providing battery packs and energy supply through long-term contracts, making the transition to electric a predictable operational expense rather than a massive capital investment.

The Role of Drivn

Drivn, which recently secured a US$ 80 million commitment from Nomura, serves as the financial and operational backbone of the deal. The platform will:

Lease and Finance: Use its institutional capital to provide leasing structures that make electric trucks economically viable compared to diesel.

Lifecycle Management: Oversee fleet operations, battery lifecycle management, and infrastructure planning.

Tech Integration: Utilize a proprietary tech stack to optimize asset utilization and performance for industries like cement, steel, and e-commerce.

Narendra M. Murkumbi, MD & CEO of Energy in Motion Limited, noted that this MoU validates their approach to solving the EV challenge for heavy commercial vehicles by decoupling the vehicle from the battery.

Manav Bansal, CEO and Co-founder of Drivn, emphasized that while the intent to adopt EVs is present among fleet operators, the transition is driven by "clear economics and dependable operations." This partnership aims to provide that confidence through a complete, integrated ecosystem.

Strategic Rationale and Market Impact

Heavy-duty trucks are among the largest contributors to industrial carbon emissions. By deploying 1,000 units, EIM and Drivn are targeting a critical segment of India's "Waste to Wealth" and green logistics goals. Since EIM commenced commercial operations on August 1, 2025, this 1,000-vehicle target represents a massive scaling of their production and service footprint.

For Ravindra Energy, this venture represents a high-growth pivot into the clean mobility sector, complementing its existing energy portfolio with a technology-driven, recurring-revenue model.

Shares of Ravindra Energy Ltd was last trading in BSE at Rs. 135.55 as compared to the previous close of Rs. 138.95. The total number of shares traded during the day was 6397 in over 282 trades.

The stock hit an intraday high of Rs. 140.35 and intraday low of 135.00. The net turnover during the day was Rs. 878553.00.

Source : Equity Bulls

Keywords

RavindraEnergy INE206N01018 EnergyinMotion ElectricVehicles HeavyDutyTrucks