BikeWo targets 10,000 EV fleet in FY27 with Rs 76 crore funding

BikeWo Green Tech plans to build an operating fleet of around 10,000 vehicles in FY 2026-27, backed by a Rs 76-crore preferential warrant issue. The company is expanding into EV leasing, asset ownership and specialised mobility services.

Hyderabad: BikeWo Green Tech Limited is targeting approximately 10,000 vehicles in its operating fleet during FY 2026-27, funded by a preferential issue through warrants of more than Rs 76 crore.

The expansion marks a shift from electric vehicle sales and distribution into EV asset ownership and leasing, fleet deployment, specialised mobility applications, operating partnerships, lifecycle support and technology-enabled logistics. BikeWo is calling this next phase BikeWo Ascend.

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An early milestone is BikeWo’s engagement with Reliance Industries Limited’s Bio Energy Division for the hiring and deployment of specialised electric tractors. The contracts have an estimated aggregate value of approximately Rs.66.46 crore, with contractual validity extending to July 2033.

“For us, BikeWo Ascend is about building a much larger business around electric mobility,” said Hiten Pal Saklani, Chief Executive Officer, BikeWo Green Tech Limited.