A large electric fleet is not only about adding more vehicles. It also needs people, maintenance, leasing, operations and technology to keep everything running. BikeWo Green Tech is now preparing for that kind of expansion, with a target of around 10,000 vehicles in its operating fleet during FY 2026-27.
The company plans to support the expansion through a preferential issue of warrants worth more than ₹76 crore. BikeWo has named this new phase of its business BikeWo Ascend.
Reliance contract adds a new use for EVs
One of the early developments under this plan is an agreement with Reliance Industries’ Bio Energy Division. BikeWo will hire and deploy specialised electric tractors for bio-energy and biomass-related work.
The contracts have an estimated value of ₹66.46 crore and are valid until July 2033.
The electric tractors will be used with different equipment and services, including:
- Applications: Loader, catcher and grabber operations
- Services: Driver and vehicle operation support
- Sector: Bio-energy and biomass handling
- Contract period: Valid until July 2033
- Estimated value: ₹66.46 crore
This gives BikeWo an EV application outside the usual passenger and goods transport business.
More than vehicle sales
BikeWo started as a multi-brand electric two-wheeler retailer in Telangana in 2016. It entered fleet operations in 2025 and is now looking at a wider mobility business. The company plans to work across:
- Last-mile, mid-mile and long-mile transport
- Enterprise mobility
- Specialised fleet applications
- Vehicle leasing
- Fleet ownership
- Lifecycle support
- Technology-enabled logistics
BikeWo has also appointed Sumanth Badiga to its Advisory Board. He has more than three decades of experience in the automotive and transportation sectors.
Financial plans and recent performance
The company listed on NSE Emerge in September 2024 after raising ₹24.09 crore. For the year ended March 2026, BikeWo reported consolidated revenue of ₹54.49 crore, up 132 per cent. Its net profit stood at ₹4.50 crore compared with ₹0.88 crore a year earlier.
The 10,000-vehicle figure is a management target for FY27 and is not an achieved fleet size. The ₹66.46 crore contract value is also an estimate, with actual revenue depending on services deployed under the agreement.
With BikeWo Ascend, the company is looking to build a business around vehicles, fleet operations, partnerships and technology while expanding its presence in India’s electric mobility and logistics sector.