The new entity, headquartered in the United Arab Emirates (UAE), is strategically positioned to serve the rapidly expanding Middle Eastern market for Electric Vehicle Charging Stations and advanced Solar Energy Systems. This move directly aligns with the UAE’s strategic initiatives to achieve net-zero emissions by 2050 and diversify its energy sources.

Servotech Renewable International FZCO will serve as the company’s central hub for business development, project execution, and strategic partnerships across the UAE and the wider GCC region. The focus will be on delivering Servotech’s high-efficiency solar solutions, energy storage systems, and its state-of-the-art AC and Fast DC EV chargers to support the region’s ambitious infrastructure projects.

Servotech’s decision to establish its presence in Dubai is driven by the city’s world-class logistics, robust regulatory environment, and the significant role it plays as a gateway to the broader international market.

Raman Bhatia, Managing Director of Servotech Renewable Power System Limited, said “The launch of Servotech Renewable International FZCO in Dubai is a pivotal moment in our global trajectory. The Middle East, particularly the UAE, is taking a more aggressive approach towards a sustainable energy future, creating a massive demand for reliable, high-tech EV and solar infrastructure. This subsidiary is more than just an entry point, it is a step towards our commitment to power the global green transition with Indian technology and innovation.”

“By planting our flag in Dubai, we are positioning Servotech not just as a national leader, but as a global contributor to the clean energy revolution. We are confident that our deep expertise in solar power systems and EV charging solutions will resonate strongly with regional partners and drive long-term growth and realizing our vision of a truly global Servotech.”, he added.

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Bengaluru, September 24, 2025 – Ultraviolette, an innovator in cutting-edge electric vehicle platforms and battery technology, today announced a landmark achievement for its latest motorcycle, the X-47 Crossover, which has received over 3000 bookings within the first 24 hours of its launch. This overwhelming response underscores the trust and enthusiasm of Indian consumers towards Ultraviolette’s vision of redefining the future of performance electric mobility.

In response to the unprecedented demand, Ultraviolette has extended its introductory offer, originally available for the first 1000 customers – to the first 5000 customers. This ensures that more enthusiasts get the opportunity to be early adopters of the X-47.

The incredible response to the X-47 within just a day of launch is a testament to the growing appetite for cutting-edge, electric motorcycles in India,” said Narayan Subramaniam, Co-founder & CEO, Ultraviolette. “We are thrilled to see this level of excitement and are committed to delivering a product that redefines what an electric motorcycle can achieve. Extending the introductory offer to 5000 customers is our way of acknowledging this overwhelming support.”

The X-47 builds on the company’s pillars of combining futuristic design, state-of-the-art technology, unmatched performance and safety benchmarks; the X-47 is set to create a new segment in performance electric motorcycles in the country. Deliveries of the X-47 Crossover will commence in October 2025.

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Q1 FY26 Financial Overview

Standalone Q1FY26

• Total Revenue witnessed a growth of 01% in Q1 FY26 of Rs 12,513.59 lacs from Rs 9,775.48 lacs in Q1 FY25.
• EBITDA increased by 63.65% standing at Rs 1,423.17 lacs in Q1 FY26 from Rs 869.66 lacs in Q1 FY25.
• Gross Profit rose by 36.96%, standing at Rs 2,657.36 lacs in Q1 FY26, up from Rs 1,940.26 lacs in Q1 FY25.
• PBT registered a growth of 59.25%, amounting to Rs 1,003.98 lacs in Q1 FY26, as against Rs 630.44 lacs in Q1 FY25.
• PAT experienced a substantial rise of 59.18%, standing at Rs 755.06 lacs in Q1 FY26, compared to Rs 474.34 lacs in Q1 FY25.

Consolidated Q1FY26

• Total Revenue witnessed a growth of 99% in Q1 FY26 of Rs 13,716.54 lacs from Rs 11,243.92 lacs in Q1 FY25
• EBITDA increased by 26.87% standing at Rs 1,083.18 lacs in Q1 FY26 from Rs 853.74 lacs in Q1 FY25
• Gross Profit rose by 27.57%, standing at Rs 2,600.34 lacs in Q1 FY26 from Rs 2,038.34 lacs in Q1 FY25.
• PBT registered a growth of 6.92%, amounting to Rs 657.01 lacs in Q1 FY26, compared to Rs 614.48 lacs in Q1 FY25.
• PAT experienced a rise of 1.36%, standing at Rs 455.05 lacs in Q1 FY26, compared to Rs 448.94 lacs in Q1 FY25.

Commenting on the results, Raman Bhatia, Managing Director, Servotech Renewable Power System said, “We’re pleased with our strong performance in this quarter, which is a clear reflection of the consistent hard work, dedication, and focus that Servotech has put in. We have had great opportunities to step into new territories and expand our reach across India and beyond in both Solar and EV sector. However, we view this growth as a stepping stone, there’s still immense potential to unlock and we remain committed to pushing boundaries, delivering superior products, and building on this momentum in the quarters ahead. With innovation and customer satisfaction at the core of our vision, we’re confident of achieving even greater milestones on our journey toward global leadership in the green tech space.”

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The success of the PM E-DRIVE scheme is evident with 10,10,101 e-2Ws and 1,22,982 e-3Ws (L5) registered on the VAHAN portal during FY 2024-25. The environmental benefits of this initiative are noteworthy, with fuel savings totaling 15,77,33,334 liters and a daily reduction of 8,55,723 liters of fuel consumption. Additionally, the scheme has led to a substantial decrease in carbon emissions, with total CO2 reduction reaching 23,01,73,978 kg and a daily reduction of 12,48,100 kg, highlighting the positive impact of electric mobility on the environment as India strides towards a greener future. PIB

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FINANCIAL HIGHLIGHTS

Consolidated

• Total Revenue witnessed stellar growth of 3% in Q3 FY25 to Rs. 21,683.2 lacs from Rs. 5,220.6 lacs in Q3 FY24
• EBITDA increased by 1% from Rs. 321.6 lacs in Q3 FY24 to Rs. 1,672.8 lacs in Q3 FY25
• PBT stood at 1,282.5 lacs in Q3 FY25, compared to Rs. 185.8 lacs in Q3 FY24, witnessing a growth of 590.2%
• PAT stood at 798.7 lacs in Q3 FY25, compared to Rs. 111.4 lacs in Q3 FY24, witnessing a growth of 616.8%
• In terms of 9M performance, total revenue increased by 1% and stood at Rs. 52,934.0 lacs in 9M FY25 compared to Rs. 21861.0 lacs in 9M FY24
• EBITDA increased by 1% from Rs. 1,631.5 lacs in 9M FY24 to Rs. 4,455.9 lacs in 9M FY25
• PAT increased by 1% and stood at Rs. 2,371.9 lacs in 9M FY25 compared to Rs. 834.8 lacs in 9M FY24, margins improved to 4.5% from 3.8% during the same period

Standalone

• Total Revenue witnessed stellar growth of 8% in Q3 FY25 to Rs. 18,185.7 lacs from Rs. 4,984.5 lacs in Q3 FY24.
• EBITDA increased by0% from Rs. 318.6 lacs in Q3 FY24 to Rs. 1,698.1 lacs in Q3 FY25
• PBT stood at 1,309.4 lacs in Q3 FY25, compared to Rs. 182.9 lacs in Q3 FY24, witnessing a growth of 616.0%
• PAT stood at 829.7 lacs in Q3 FY25, compared to Rs. 109.2 lacs in Q3 FY24, witnessing a growth of 659.8%
• In terms of 9M performance, total revenue increased by 6% and stood at Rs. 46,236.9 lacs in 9M FY25 compared to Rs. 18,601.6 lacs in 9M FY24
• EBITDA increased by 8% from Rs. 1,596.7 lacs in 9M FY24 to Rs. 4,499.9 lacs in 9M FY25
• PAT increased by 3% and stood at Rs. 2,441.8 lacs in 9M FY25 compared to Rs. 813.0 lacs in 9M FY24, margins improved to 5.3% from 4.4% during the same period

Commenting upon the results, Raman Bhatia, Managing Director, Servotech Renewable Power System Ltd. (Formerly known as Servotech Power Systems Ltd.) said, “The quarter experienced stellar growth, fueled by our unwavering commitment to delivering cutting-edge, technology-driven solutions in electric vehicles and solar energy. As a market leader in India’s EV charging sector, currently holding a 35-40% market share, we are strategically positioned to capture 50-55% by manufacturing 12,000 DC fast chargers in FY25, meeting the rapidly surging demand for EV infrastructure. EV chargers are projected to constitute 70-75% of our total revenue, with solar products contributing the remaining portion. This dual-pronged focus on innovation reflects our dedication to creating long-term value for our stakeholders while simultaneously contributing to a sustainable future. The trust and enthusiasm of our customers and shareholders inspire us to push boundaries and set higher benchmarks. We are optimistic about the future and committed to driving growth and establishing ourselves as a global leader in renewable energy and smart energy solutions.”

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–          Memorandum of Understanding (MoU) signed to enable sustainable, decarbonized commercial transportation

–          Vehicles to be leased and funded by Vertelo, a bespoke electric mobility solutions provider, designed to make fleet electrification an easy transition.

Bengaluru, 26^th November, 2024: SWITCH Mobility (SWITCH) Automotive Ltd., a global manufacturer of electric buses and light commercial vehicles from the Hinduja Group and a subsidiary of Ashok Leyland, has entered into a strategic Memorandum of Understanding (MoU) with Vertelo. This MoU will enable SWITCH to deploy 1,000 electric vehicles across India over the next 3-5 years. Signed at an event in Chennai, the agreement reinforces SWITCH’s mission to drive the adoption of sustainable transportation solutions across the country.

The collaboration focuses on addressing critical issues such as climate change, air pollution, and urban congestion by integrating SWITCH Mobility’s advanced electric light commercial vehicles (eLCVs) and electric buses into Vertelo’s leasing ecosystem. Together, the two organizations aim to redefine the commercial transportation landscape, fostering eco-friendly mobility solutions for businesses and urban communities alike. 

Mr. Mahesh Babu, CEO, SWITCH Mobility said, “This collaboration represents a pivotal shift in India’s commercial mobility landscape. By combining our advanced EV technology with Vertelo’s innovative leasing solutions, we’re not just selling vehicles – we’re enabling businesses to embrace sustainable transportation without capital constraints. This aligns perfectly with our vision of democratizing electric mobility across India’s diverse commercial sectors.”

Mr. Sandeep Gambhir, CEO, Vertelo, said, “Our alliance with SWITCH Mobility marks a transformative approach to commercial fleet electrification. By removing the traditional barriers of high upfront costs and operational uncertainties, we’re empowering businesses of all sizes to participate in India’s electric revolution. This partnership goes beyond vehicle deployment – it’s about creating a sustainable ecosystem that makes electric mobility the obvious choice for commercial operators.”

Pursuant to this partnership, Vertelo will lease and fund SWITCH’s advanced electric buses and eLCVs, ensuring they reach businesses and municipalities aiming to adopt sustainable transportation solutions.

This MoU highlights SWITCH Mobility’s position as an industry leader and innovation driver in the electric vehicle space while reinforcing Vertelo’s status as a trusted enabler of EV adoption through flexible leasing solutions.

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Bengaluru, June 26, 2024: BGauss, from the promoters of RR Global, proudly announces the launch of its latest model, the RUV350. RUV marks a significant milestone in urban mobility, blending cutting-edge technology with exceptional design to deliver an unmatched riding experience.

The BGauss RUV350 will be available for purchase starting July at all 120 BGauss dealerships. Competitively priced from Rs. 1,09,999/- (ex-showroom), the vehicle offers various financing options to make it accessible to a wide range of customers.

Mr. Hemant Kabra, Founder and Managing Director, BGauss, said, “We are thrilled to introduce the BGaussRUV350, a revolutionary vehicle designed to redefine urban mobility. Our commitment to innovation is reflected in the RUV350’s advanced features, robust design, and superior performance, ensuring a seamless and efficient riding experience. The RUV350 is not only a testament to our technological prowess but also aligns with the Make in India initiative, showcasing our dedication to producing high-quality, home grown products. By prioritizing rider convenience and sustainability, the RUV350 stands as a symbol of progress and a significant step towards a cleaner, greener future. We believe this vehicle will set new benchmarks in the electric two-wheeler market.”

Advanced Engineering for Urban Commuters

Meticulously engineered to meet the diverse needs of urban commuters, the BGauss RUV350 is powered by a high-performance InWheel hyper drive motor, emphasizing efficiency and reliability. Unlike traditional belt-driven systems, the RUV350’s direct drive motor minimizes energy loss, resulting in superior efficiency and enhanced performance. This innovative design enables powerful and smooth acceleration, essential for navigating urban environments with ease.

Superior Performance and Versatility

The standout feature of the RUV350 is its gradeability, allowing it to effortlessly manage steep inclines, making it a versatile choice for varied terrains. Whether commuting in hilly urban areas or on flat city roads, the RUV350 ensures a stable and dependable ride.

Durability and Safety

Durability and safety are integral to the RUV350’s design. The vehicle boasts a robust metal body that not only enhances durability but also provides an additional layer of safety for the rider. This sturdy construction is complemented by 16-inch wheels, offering enhanced stability and control. The larger wheel size improves ride quality, enabling smoother navigation over potholes and uneven urban surfaces.

Rider Comfort and Convenience

The RUV350 is designed with rider comfort and convenience in mind. It features an ergonomic seating arrangement that ensures comfort even during prolonged commutes. Additionally, the spacious under-seat storage allows riders to conveniently carry their essentials. The advanced suspension system further enhances ride comfort by effectively absorbing shocks and vibrations, ensuring a smoother ride on bumpy roads.

Modern Features and Connectivity

Equipped with a range of modern features, the RUV350 aims to enhance the rider’s overall experience. The digital display provides real-time information such as call notifications, turn by turn navigation, live vehicle tracking , geo fencing , vehicle immobilisation, dual theme , photometric adaptive display for day and night mode , document storage , speed, battery status, and range, ensuring riders have all necessary information readily available. Furthermore, the vehicle includes smart connectivity features like Bluetooth and telematics enabling riders to stay connected and navigate with ease.

Eco-Friendly and Economical

The RUV350 is not only a high-performance vehicle but also an environmentally friendly option. Its electric powertrain produces zero emissions, contributing to a cleaner and healthier environment. The vehicle’s efficient design and low maintenance requirements make it an economical choice for urban commuters, offering significant savings compared to traditional fuel-powered vehicles.

Setting New Standards in the Electric Two-Wheeler Market

The BGauss RUV350 exemplifies the company’s commitment to innovation and sustainability. With its advanced features, robust design, and superior performance, the RUV350 sets a new standard in the electric two-wheeler market. It is the ideal choice for urban commuters seeking a reliable, efficient, and eco-friendly mode of transportation.

Variants, top features and prices

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This marks a significant step towards enhancing sustainable mobility in the country, as Uber now offers on-demand EV rides through its Uber Green service.

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