Ravindra Energy Ltd is making bold strides in India’s clean mobility and renewable energy landscape with a trio of major announcements that signal aggressive expansion and strategic capital deployment. Its associate company, Energy In Motion Pvt Ltd (EIM), has proposed a ₹10,000 crore investment in Maharashtra to establish India’s first electric heavy-duty truck manufacturing facility. Simultaneously, Ravindra Energy is preparing to raise up to ₹5,000 crore through equity or other instruments to support its ambitious growth plans.
Key Highlights
EIM to invest ₹10,000 crore in Maharashtra for electric truck manufacturing and EV infrastructure
MoU with Maharashtra government in final stages for land allocation and policy support
Ravindra Energy to raise up to ₹5,000 crore via QIP or other capital market instruments
Commercial rollout of 55-ton electric trucks under the Ashwa brand already underway
Battery swapping and charging network to be powered by Ravindra’s renewable energy assets
Electric Truck Plant: Maharashtra to Host India’s First
Energy In Motion Pvt Ltd, backed by Ravindra Energy, is set to sign a Memorandum of Understanding with the Maharashtra government to establish a state-of-the-art electric truck manufacturing facility. The plant will be located in a strategic industrial corridor, offering proximity to logistics hubs and ports.
The facility will produce battery-swappable, CMVR-compliant electric trucks under the Ashwa brand
Initial production capacity: 10,000 units per annum, scalable in phases
Includes R&D center, battery assembly line, and training academy
Commercial rollout of Ashwa trucks began in August 2025 after receiving ARAI certification
This initiative positions Maharashtra as a future hub for clean freight mobility and advanced EV manufacturing.
Renewable Backbone: Ravindra Energy’s Role
Ravindra Energy Ltd, a Ministry of New and Renewable Energy-accredited supplier of solar water pumps and rooftop solar systems, will provide the clean energy backbone for EIM’s EV ecosystem.
Solar-powered battery swapping stations to be deployed nationwide
Charging infrastructure integrated with Ravindra’s grid-connected solar plants
Ensures zero-emission operations across the EV supply chain
This synergy between clean energy and electric mobility is expected to set a benchmark for sustainable industrial development.
Capital Raise: ₹5,000 Crore for Strategic Expansion
To fund its growing portfolio and support EIM’s rollout, Ravindra Energy has announced plans to raise up to ₹5,000 crore. The Board of Directors will meet on August 29, 2025, to evaluate fundraising options including:
Qualified Institutional Placement (QIP)
Preferential allotment of equity shares
Other permissible capital market instruments
The funds will be used for:
Scaling renewable energy projects
Supporting EV infrastructure development
Strategic investments and working capital needs
This capital infusion is expected to strengthen Ravindra’s balance sheet and accelerate its clean energy transition goals.
Economic and Environmental Impact
The combined initiatives are poised to deliver significant benefits:
Over 20,000 direct and indirect jobs across manufacturing, logistics, and services
Reduction of over 1 million tonnes of CO₂ emissions annually
Boost to local MSMEs through component sourcing and supply chain integration
Acceleration of India’s EV adoption in the commercial transport segment
Industry analysts view Ravindra’s integrated approach as a model for future-ready infrastructure development.
Conclusion
Ravindra Energy Ltd’s ₹10,000 crore investment in Maharashtra, coupled with a ₹5,000 crore fundraising plan, marks a transformative moment in India’s clean tech evolution. With electric trucks rolling out, renewable energy powering the grid, and capital markets backing the vision, Ravindra is not just building vehicles—it’s building a future.
Sources: Economic Times, Tractor Junction
