Total tractor sales slipped 2.2% during FY 2024/25 to register 67,574 units compared with 69,115 units in the previous year (FY2023/24).

Sales of medium and heavy rigid trucks (7.5t gvw and above) experienced a degrowth of 4.4% to 239,847 units in FY 2024/25 from 250,969 units in the financial year 2023/24.

This move is aimed at maintaining SMRP B.V.’s existing ownership stake in the company as REE raises fresh capital to support the commercialization of its order book.

This is the first and largest outright purchase of electric buses by a state transport corporation in India.

Tractor sales grew by 4.8% during the fourth quarter of FY 2024/25 (January to March) to register 21,021 units compared with 20,061 units in the same quarter of the previous year (FY 2023/24).

The agreement strengthens AEM’s footprint in Asia and coincides with a new trade agreement between the UK and India.

Sales of medium and heavy rigid trucks (7.5t gvw and above) in India experienced a decline of 2.1% in Q4 (January to March) of FY 2024/25 to register 71,614 units from 70,149 units in same quarter of fiscal year 2023/24.

Anirudh Bhuwalka, CEO of Blue Energy Motors, says the facility will produce zero-emission electric trucks using AI and machine learning technologies.

Sales of buses (7.5t gvw and above) were up by 10.5% in Q4 of the financial year 2024/25 (January to March) to register 22,049 units, up from 19,946 units in Q4 of FY 2023/24.

Sales of light-duty buses and coaches (7.5t & below) rose strongly in Q4 of FY2025/24 (January to March 2025) by 19.4% to register 18,310 units compared with 15,333 units in Q4 of FY2023/24.

Production of LCV trucks fell by 0.8%, while exports grew strongly by 60.2% to more than 14,000 vehicles.

The project - valued at approximately USD660mn (INR 5,500 crore) - includes full-scale electric and civil infrastructure development under a Gross Cost Contracting (GCC) model.