New Delhi, Sept. 23 -- BikeWo Green Tech Ltd is targeting about 10,000 vehicles in its operating fleet during 2026-27, funded by a preferential issue through warrants of over Rs 76 crore, the company has said.
Hiten Pal Saklani, Chief Executive Officer, BikeWo Green Tech Ltd, said it has around 2,500 riders/vehicles under deployment.
"We plan to scale towards 10,000 vehicles during FY27, backed primarily by growing institutional demand for EV logistics," he said.
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.
"The multi-brand EV retail model is losing momentum, while demand for EV logistics and institutional fleet solutions is growing significantly. BikeWo is therefore moving towards fleet ownership, leasing and operations, creating greater scope to scale and build a more recurring revenue base," Saklani said.
Moreover, BikeWo said its contracts with Reliance Industries Ltd's Bio Energy Division for the hiring and deployment of specialised electric tractors have an estimated aggregate value of about Rs 66.46 crore, with contractual validity extending to July 2033.
Published by HT Digital Content Services with permission from Millennium Post.