Tunwal E-Motors Limited
NNSE:TUNWAL22.85
INR
-0.65
(-2.77%)
Tunwal E-Motors Limited
NSE:TUNWAL
(National Stock Exchange of India)
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- Tunwal E-Motors Ltd. designs, develops, manufactures, and distributes electric two-wheelers, including scooters and bikes equipped with lithium-ion and lead-acid battery options; its product portfolio features models such as Lithino series (e.g., Mini Lithino, Lithino Pro), Roma series, Alfa Pro, Storm series (e.g., Storm ZX, Storm Advance, Storm XL), Sport 63, Mini Sports 63, Alfa Lite, and E-Boat, with customizable features like removable battery packs, digital dashboards, anti-theft alarms, USB charging ports, remote lock keys, tubeless tires, and BLDC motors. The company offers these eco-friendly vehicles primarily to urban commuters and cost-conscious consumers seeking sustainable alternatives to fuel-powered two-wheelers, supported by warranties of one to two years depending on battery type and government subsidy schemes. Incorporated in December 2018 and headquartered in Pune, Maharashtra, with its primary manufacturing facility spanning 8,000 square meters in Palsana, Sikar, Rajasthan, Tunwal E-Motors operates a distribution network of over 256 dealers across India, concentrating on B and C-tier towns in regions including the West, where it derives the majority of revenue. The company listed on the NSE SME via an initial public offering in July 2024, raising Rs 115.64 crores through a fresh issue and offer for sale to fund working capital, research and development in battery technology and designs, inorganic growth opportunities, and general corporate purposes. In recent developments, Tunwal E-Motors entered a strategic partnership with Bajaj Finance in April 2025 to provide flexible EV financing options at its dealerships nationwide, enhancing customer accessibility and supporting sales growth amid rising electric mobility demand. The company acquired Palsana EV Industries India Pvt Ltd, a wholly owned subsidiary, in January 2025 for Rs 30.1 million to bolster production capacity; it also commenced construction of two additional manufacturing facilities alongside its existing Rajasthan plant and Pune warehouse, approved a preferential issue of 23.91 lakh equity shares in February 2025 to convert unsecured loans into equity, and reported doubled EV sales in recent periods driven by GST reductions and festive demand. These initiatives reflect Tunwal's expansion in the competitive Indian electric two-wheeler segment, where it maintains registrations with the Bureau of Indian Standards and SAE International USA.