Ravindra Energy Limited's associate company Energy In Motion Limited (EIM) has announced a strategic partnership with Transvolt Mobility Private Limited for the deployment of 66 electric heavy vehicles. This collaboration marks a significant step toward sustainable port operations and clean mobility solutions in India's logistics sector.

Partnership Details and Vehicle Specifications

The partnership involves the supply of 66 EIM-Foton 55-ton e-tractor vehicles branded as "Ashwa." These battery-swappable heavy electric vehicles are designed for hauling a wide variety of trailers across different applications. The comprehensive service package includes not only vehicle supply but also swappable battery technology and charging infrastructure as a combined service offering.

Deployment Strategy and Environmental Impact

Transvolt will deploy these electric vehicles at two major Indian ports: Kandla Port in Gujarat and Jawaharlal Nehru Port at Nava Sheva Mumbai. The vehicles will be utilized for intra-port movement of containerized goods, marking Transvolt's strategic entry into port operations. This deployment represents a significant environmental initiative, with projected annual CO2 emission reductions of approximately 3300 tons.

The initiative aligns with the broader objective of achieving 100% zero emission transport being pursued by various port terminals across India. This transition from traditionally diesel-dependent operations to electric mobility demonstrates the industry's commitment to sustainable logistics infrastructure.

Leadership Perspectives

Mr. Narendra Murkumbi, Vice Chairman of Ravindra Energy and Managing Director of EIM, emphasized the validation of EIM's comprehensive approach to heavy commercial vehicle electrification. The business model focuses on selling vehicles without battery packs while providing charging services with swappable batteries, addressing the entire EV ecosystem challenge.

Mr. Debasis Mohanty, CEO and Co-founder of Transvolt, highlighted how this initiative will accelerate the transition to cleaner and more efficient logistics infrastructure. He noted that this move positions Transvolt as an early adopter of green technology in the traditionally diesel-dependent port sector, aligning with sustainability principles of investors including IFC, World Bank, and FinnFund.

Company Background and Business Models

Energy In Motion Limited operates as an associate venture of Ravindra Energy Limited, with REL holding a 49.5% shareholding. EIM's innovative business model centers on selling bare electric tractors without battery packs to transporters while providing battery packs, charging and swapping infrastructure, and energy supply through long-term contracts. The company commenced commercial operations on August 1, 2025.

Transvolt Mobility Private Limited functions as an electric mobility platform leveraging global experience and technological developments in e-mobility. The company's integrated approach creates a connected ecosystem across products and services segments, offering robust e-mobility infrastructure capabilities across B2G, B2C, and B2B domains.

Ravindra Energy Limited has extended its corporate guarantee for banking facilities availed by its associate entity Energy In Motion Limited from YES Bank Limited. The company disclosed this development on March 13, 2026, in compliance with SEBI listing regulations.

Corporate Guarantee Details

The guarantee arrangement covers comprehensive banking facilities sanctioned by YES Bank Limited to Energy In Motion Limited. The bank has approved various credit facilities totaling significant amounts for the associate entity's business operations.

Associate Entity Relationship

Energy In Motion Limited operates as an associate entity of Ravindra Energy Limited with established corporate connections. The relationship involves significant equity participation and shared management structure.

Business Rationale and Impact

The corporate guarantee serves strategic business purposes for both entities involved. Ravindra Energy emphasized that the arrangement operates on commercial terms while supporting the associate entity's growth objectives.

Key aspects of the guarantee impact include:

• Competitive Terms: The guarantee enables Energy In Motion Limited to secure credit facilities at favorable rates from YES Bank Limited
• Business Expansion: The facilities support the associate entity's principal business activities and operational expansion
• Financial Structure: As a non-fund-based contingent liability, the guarantee has no immediate financial impact on Ravindra Energy Limited
• Arm's Length Basis: The corporate guarantee is extended on arm's length terms despite the promoter connection

Regulatory Compliance

The disclosure follows SEBI regulations under the Listing Obligations and Disclosure Requirements framework. Energy In Motion Limited is incorporated under the Companies Act, 2013, with corporate identification number U29304KA2024PLC186460 and registered office in Belgaum, Karnataka.

The company noted that Mr. Narendra Murkumbi, being a common director in both entities and a promoter of Ravindra Energy Limited, is considered an interested director in this transaction. Despite this connection, the guarantee arrangement maintains arm's length commercial terms.

Corporate Structure

Energy In Motion Limited maintains independent operational status with its own asset base and financial resources. The entity's separate corporate structure provides operational flexibility while benefiting from the parent company's financial backing through the guarantee mechanism.