This builds on the success of its ‘Black Mass’ facility, also in Sikandrabad, Uttar Pradesh, launched in 2022.

The Rhino 5536E truck is produced by heavy-duty start up by IPLTech Electric Pvt Ltd of Gurgaon

Sales of medium and heavy rigid trucks (7.5t GVW and above) in India declined by 7% in the first three quarters (April-December) of fiscal year 2024-25, dropping to 168,233 units from 180,820 units in the same period of 2023-24.

36,497 light duty buses were registered in the first threequarters of FY 2024-25.

Haulage tractor sales declined by 5.1% in the first three-quarters (April-December) of FY 2024-25 to 46,553 units.

Bus and coach sales (7.5 tonnes & above) surged by 31.2% in the first three quarters (April-December) of 2024-25, reaching 43,531 units.

In the previous nine month period some 400,013 light trucks were registered.

The order is for 1,621 buses and 42 heavy-duty trucks.

Sales in Q3 totalled 13,627 units compared with 10,828 units.

The round was led by America venture capital firm, Ecosystem Integrity Fund (EIF) of Sacramento, California, with participation from Blume Ventures of Mumbai, India and British International Investment Plc of London, UK (BII).

Q3 tractor unit sales totalled 16,490 units compared with 17,025 units.

Sales of medium and heavy rigid trucks (7.5t GVW and above) in India declined to 60,215 units in Q3 (63,469).