Company moves beyond vehicle sales into EV asset ownership, fleet operations and technology-enabled logistics under a new phase it calls BikeWo Ascend
New Delhi, 22 September 2026: BikeWo Green Tech Limited (NSE: BIKEWO) is targeting approximately 10,000 vehicles in its operating fleet during FY 2026-27 funded by a preferential issue through warrants of more than ₹76 crore. 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. BikeWo is calling this next phase BikeWo Ascend.
An early milestone is BikeWo’s engagement with Reliance Industries Limited’s Bio Energy Division for the hiring and deployment of specialised electric tractors. The contracts have an estimated aggregate value of approximately ₹66.46 crore, with contractual validity extending to July 2033. The tractors are equipped with specialised loader, catcher and grabber applications, along with associated driver and vehicle-operation services. The deployment takes electric mobility into bio-energy and biomass-handling operations, an emerging application in specialised industrial environments.
“For us, BikeWo Ascend is about building a much larger business around electric mobility. We started with vehicles, but we see a significantly bigger opportunity in the infrastructure, operations and technology that enable those vehicles to deliver value. Our engagement in the bio-energy sector is an encouraging example of how specialised electric mobility can find applications beyond conventional transportation,” said Hiten Pal Saklani, Chief Executive Officer, BikeWo Green Tech Limited.
The expansion spans last-mile, mid-mile and long-mile transportation, enterprise mobility, specialised fleet applications and related mobility infrastructure.
“Scale for us is not simply about putting more vehicles on the road. It is about building the operating capability around those vehicles. We want to create a platform that can bring together the right assets, partners, technology and operating capabilities for different mobility requirements. As we expand across India, that is the business we are focused on building,” Saklani added.
BikeWo continues to build partnerships across the EV, logistics, energy and technology sectors. BikeWo has appointed Sumanth Badiga to its Advisory Board. He brings over three decades of experience across the automotive and transportation sectors.
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About BikeWo Green Tech Limited
BikeWo Green Tech Limited is building an integrated mobility and logistics platform with capabilities spanning electric mobility, fleet operations, logistics infrastructure, and technology. The Company is pursuing strategic acquisitions, investments and collaborations to participate across multiple layers of India’s evolving mobility and logistics value chain.
Incorporated in Telangana in 2016, BikeWo began as a multi-brand electric two-wheeler retailer and moved into fleet operations in 2025. It listed on NSE Emerge in September 2024, raising ₹24.09 crore. In the year to March 2026 the company reported consolidated revenue of ₹54.49 crore, up 132 per cent, and net profit of ₹4.50 crore against ₹0.88 crore.
Note: The approximately ₹66.46 crore contract value is indicative and estimated and is not binding on the customer for fulfilment. Actual revenues will depend on services deployed and executed under the contractual terms. The approximately 10,000-vehicle figure for FY 2026-27 is a management target and not an achieved figure. The preferential warrant issue represents an issue value and capital pathway and is subject to subscription, exercise and applicable terms.
