EIM Plans Rs 4,000 Crore Electric Heavy Truck Push

Energy In Motion Ltd (EIM), which makes electric heavy trucks and runs battery-swapping stations, is moving ahead with a Rs 4,000 crore plan to shift freight from diesel to electric, The Hindu BusinessLine reported on 16 October 2026. The company, backed by the Murkumbi and J M Baxi groups, was scheduled to inaugurate its manufacturing facilities at Talegaon near Pune on 14 October as part of a Rs 1,000 crore investment in Maharashtra.

Plant capacity

Citing Ravindra Energy's investor presentation dated 29 September, the report said the Talegaon vehicle plant has an annual capacity of 5,000 heavy commercial vehicles per shift. An adjacent lithium-ion battery assembly plant can produce up to 2.4 GWh of batteries a year. An independent lab run by Automotive Test Systems LLC will test battery safety and performance before formal certification by agencies such as ARAI.

Buying the truck without the battery

EIM's main offer to fleet owners is its Maitryi battery subscription model. Operators buy the truck without the battery pack, which the report said can reduce upfront cost by up to 40 per cent. EIM earns from battery subscriptions, electricity sales and swapping services.

Its 55-tonne Ashwa electric tractor comes with swappable 282 kWh or 350 kWh battery options, and a swap takes under seven minutes. EIM has an exclusive multi-year technology licensing deal with China's Beiqi Foton and sources battery cells and kits from CATL.

By September, the company had sold more than 500 electric tractors. It is targeting ports, container freight stations and the cement, steel and power sectors.

Swapping network and funding

EIM runs eight battery-swapping stations today and plans 40 by March 2027, covering about 5,000 km of highways and major ports. Its longer-term goal is 160 megawatt-scale charging and swapping stations by FY30. The company estimates it will need another Rs 800 crore to Rs 1,000 crore of equity over the next three years.

Merger with Ravindra Energy

Ravindra Energy's board approved an all-share merger with EIM on 23 September. Eligible EIM shareholders are to receive 209 Ravindra Energy shares for every 100 EIM shares, and the merged company will be renamed Energy In Motion, subject to regulatory and shareholder approvals. BusinessLine said the deal could extend into FY28.

The report noted the key commercial question: whether EIM can deploy trucks at scale and earn enough from swapping to keep a cost edge over diesel.

Why it matters for transporters and logistics businesses

• Battery subscription models could lower the entry cost of electric heavy trucks, which is one of the biggest hurdles for small and mid-size fleet owners.
• Early adoption is most likely on short, repeat routes around ports, container freight stations and industrial clusters where swapping stations are planned.
• Before switching, compare total cost of ownership, financing and after-sales support. Explore vehicle finance and insurance providers, vehicle service centres and telematics and GPS providers on BizGrowthUp.

Source: The Hindu BusinessLine