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Electric mobility company BikeWo Green Tech has introduced its new BikeWo Ascend strategy as part of its business expansion. The company aims to scale its operating fleet to approximately 10,000 vehicles during FY2026-27. To support this expansion, BikeWo plans to raise funds through a preferential issue of warrants worth more than ₹76 crore.
As part of the expansion, BikeWo has entered into contracts with Reliance Industries’ Bio Energy Division for the hiring and deployment of specialised electric tractors. The contracts have an estimated aggregate value of ₹66.46 crore and are valid until July 2033.
The electric tractors will be used for specialised applications such as loaders, catchers and grabbers. The contracts also include driver and vehicle-operation services. According to the company, the deployment expands the use of electric vehicles beyond conventional passenger and commercial transportation into areas such as bio-energy and biomass handling.
BikeWo CEO Hiten Pal Saklani said the company’s focus is no longer limited to the sale of electric vehicles. The company is focusing on EV asset ownership and leasing, fleet deployment, operations and technology-enabled logistics.
The BikeWo Ascend strategy covers EV asset ownership and leasing, fleet operations, specialised mobility applications, operating partnerships, lifecycle support and technology-enabled logistics.
BikeWo is expanding its operations across last-mile, mid-mile and long-mile transportation, enterprise mobility, specialised fleet operations and mobility infrastructure.
The company has set a target of building an operating fleet of approximately 10,000 vehicles in FY2026-27. This is a management target and not an achieved figure. According to the company, the expansion will be supported by a preferential warrant issue of more than ₹76 crore, subject to subscription, exercise and applicable terms.
BikeWo has also appointed Sumanth Badiga to its Advisory Board. He brings more than three decades of experience in the automotive and transportation sectors.
Established in Telangana in 2016, BikeWo initially operated as a multi-brand electric two-wheeler retailer and entered fleet operations in 2025. The company was listed on NSE Emerge in September 2024 and raised ₹24.09 crore.
For the financial year ended March 2026, BikeWo reported a 132% increase in consolidated revenue to ₹54.49 crore. Its net profit rose to ₹4.50 crore, compared with ₹0.88 crore in the previous period.
BikeWo said it is pursuing acquisitions, investments and partnerships across electric mobility, fleet operations, logistics infrastructure and technology as it expands its presence across India’s mobility and logistics value chain.
The company clarified that the ₹66.46 crore Reliance contract value is indicative and estimated, and is not fully binding on the customer. Actual revenue will depend on the services deployed and executed under the contractual terms.
