HPCL to host Energy In Motion's truck battery-swap and charging hubs

Energy In Motion, the electric-truck arm of listed Ravindra Energy, has signed an agreement with state-run HPCL to set up battery-swapping and fast-charging hubs for electric heavy commercial vehicles at the fuel retailer's outlets, starting on major freight corridors.

The deal puts charging and swapping where long-haul drivers already stop, at a marketer that the company says runs more than 25,000 outlets, and is a concrete step in the slow, hard business of electrifying Indian freight, the segment where charging reliability and route confidence matter most. It is also another EV push by a state oil company facing the long shift away from diesel.

Under the agreement, EIM will own and run the batteries and swap-charge hardware while HPCL provides the outlet space, power and amenities; the companies plan hubs on the Mumbai-Pune, Delhi-Jaipur and Chennai-Bangalore corridors over the next 18 to 24 months, EIM said. The company sells 'bare' electric trucks without batteries and offers energy as a service; it says it runs six heavy-duty swap stations in Delhi-NCR and at JNPA, handling about 840 swaps a day, and is targeting 40 stations by March 2027. Its first vehicle, the Ashwa 55-ton e-tractor, launched in August 2025, and it puts a battery swap at about seven minutes.

EIM is an associate of Ravindra Energy Limited (NSE: RELTD, BSE: 504341), which holds about 49.5% and recently put in roughly INR 150 crore. EIM has also signed a 500 MWh cell-supply deal with CATL and an MoU with leasing platform Drivn for 1,000 e-trucks.

The scale that decides how much this matters, how many outlets in phase one and how much each side is investing, has not been disclosed.