CMV360 Weekly Wrap (12–17 October 2026): 1,725 E-Buses, ₹330 Crore EV Funding, Tractor Sales Fall, Major Farmer Benefits & Mustard Crosses ₹10,000

Welcome to the CMV360 Weekly Wrap for October 12–17, 2026. This week brought several important developments across India’s commercial vehicle, electric mobility, construction equipment and agricultural sectors. From Uttar Pradesh’s approval of 1,725 electric buses and GreenCell Mobility’s ₹330 crore funding boost to new electric truck plans, major bus orders and changing tractor sales trends, the industry witnessed significant activity. We also cover key farmer welfare initiatives, including loan waivers, free LPG refills and changing agricultural commodity prices. Let’s take a closer look at the biggest news and developments that shaped the week.

UP Approves 1,725 Electric Buses Across 18 Cities: Check City-Wise Allocation and Subsidy

​Uttar Pradesh has approved 1,725 air-conditioned electric buses across 18 cities under a 12-year Gross Cost Contract model. Lucknow and Kanpur will receive 300 buses each. The government will provide subsidies of ₹35 lakh for 9-metre buses and ₹40 lakh for 12-metre buses, along with free depot land. The project aims to improve urban connectivity, promote cleaner mobility and support local manufacturing.

Ashok Leyland Partners with Tamilnad Mercantile Bank for Truck, Bus Loans

​Ashok Leyland and Tamilnad Mercantile Bank signed an MoU on 12 October 2026 to provide customised financing for truck and bus buyers. The partnership will offer flexible repayment options, tailored loans and faster processing to support transport operators and fleet owners. TMB’s network of over 600 branches is expected to improve financing access, particularly across South India.

SML Mahindra to Appoint Surender Kalra as CFO From January 2027

​SML Mahindra has appointed Surender Kalra as CFO, effective January 1, 2027, succeeding Pushkar Patwardhan, who will step down on October 19, 2026. Manaswini Goel will serve as interim CFO from October 20 to December 31, 2026. Ashudeep Saddi will join as CHRO on October 19, bringing nearly 30 years of HR experience across multiple industries.

GreenCell Mobility Raises ₹330 Crore to Expand Electric Bus Fleet in India

​GreenCell Mobility has raised ₹330 crore from Impact Fund Denmark to expand its electric bus fleet in India. The company plans to deploy around 4,500 additional buses, taking its total fleet to over 5,000 across 105 cities. The funding will support existing orders, operational expansion and charging infrastructure under its Electric Mobility-as-a-Service model, strengthening its presence in intra-city and intercity transportation.

Eicher Trucks & Buses Launches Uptime NXT Services With AI Technology

​Eicher Trucks & Buses has launched AI-powered Uptime NXT Services to reduce vehicle downtime and improve fleet productivity. The ecosystem includes Uptime Control Tower for service monitoring, Service One for AI-based diagnostics and the My Eicher app, which connects over 460,000 vehicles and serves 200,000+ customers. The initiative aims to speed up repairs, improve service coordination and control operating costs.

Volvo Buses India Wins Biggest-Ever Order for 200 Volvo 9600 Coaches from MSRTC

​Volvo Buses India has secured its largest-ever single order for 200 Volvo 9600 coaches from MSRTC, including 170 seater buses and 30 sleeper coaches. Manufactured at its Hoskote facility in Karnataka, the fleet will support intercity and interstate services across Maharashtra and beyond. The 51-seat seater variant features calf support, while sleeper coaches aim to improve overnight travel comfort.

EIM to Launch Two Electric Trucks in 15 Months as Pune Plant Begins Operations

Energy In Motion (EIM) plans to launch two electric heavy-duty trucks within 15 months, targeting mining, road construction and cargo transportation. Its new Pune facility can assemble 5,000 vehicles annually. The company is developing a 400.5-kWh Luna LFP battery offering over 200 km range, with CATL supplying 500 MWh of battery cells and pack kits. A ₹60 crore battery-testing facility is also planned.

Jindal Stainless Deploys 10 Electric Trucks to Cut Emissions

Jindal Stainless has deployed 10 electric trucks to transport finished goods between Jajpur, Kharagpur and Kolkata, marking its first electric truck initiative. Alongside 80 LNG trucks and 60 CNG buses, the company is expanding cleaner transportation. Its green logistics programme targets monthly CO₂ savings of 71 tonnes, with electric and alternative-fuel vehicles expected to handle 8,000-10,000 tonnes of cargo monthly.

JCB India Opens New 3S Dealership Facility in Ranchi, Jharkhand

JCB India has inaugurated a new 18,000-square-foot 3S dealership in Ranchi, operated by Premsons Motor Udyog. Covering 15 districts of Jharkhand, the facility features a four-bay workshop, around 230 professionals and a LiveLink Command Centre offering 24/7 fleet management support. Equipped with rainwater harvesting, the dealership aims to strengthen sales, servicing and spare parts support amid growing infrastructure and mining activities.

Olectra Greentech Appoints Surender Nath as COO of Energy Division

Olectra Greentech has appointed Surender Nath as Chief Operating Officer of its Energy Division and included him in its Senior Management Personnel category. With 29 years of industry experience, Nath has previously held senior roles at ETO Motors, Andhra Polymers Group and Aditya Birla Insulators. He will oversee energy operations, strategic planning and execution to support the company’s business objectives.

Cityflo Joins Hands with BharatBenz for Faster Bus Repairs in Thane

Cityflo has launched SpotServe Plus, an OEM-standard workshop at its Thane depot in partnership with BharatBenz manufacturer DICV and Autobahn Trucking Corporation. The facility will service over 300 buses using genuine spare parts and trained technicians, enabling overnight repairs and reducing downtime. The partnership also includes an MoU for 200 additional BharatBenz buses to support Cityflo’s fleet expansion.

JCB 3DX Super Refresh 4X4 Launched in Manipur With 73 BHP Engine

JCB India launched the 3DX Super Refresh 4X4 backhoe loader in Manipur on October 14, 2026. It features a 73 bhp diesel engine, 440 Nm torque, standard 4WD and a 6-in-1 bucket. JCB claims up to 10% fuel savings, while updated controls and longer maintenance intervals aim to improve efficiency. The price remains unannounced, and the Smooth Ride System is optional.

Mahindra Starts MaxSeeder Production in India: 35 HP Tractor Compatibility and Features

Mahindra has started commercial production and supply of its MaxSeeder zero-till seeding machine in India, manufactured at its Pithampur plant under licence from Canada’s Clean Seed Technologies. Compatible with tractors of 35 HP or above, it supports five crops and features electronic seed and fertiliser controls. Initially available in Punjab and Haryana, it aims to reduce sowing costs, fuel use, labour and stubble burning.

Chhattisgarh Sugarcane Farmers to Get ₹425 per Quintal, Free Oil Palm Saplings and Subsidies

Chhattisgarh has increased the sugarcane procurement rate to ₹425 per quintal, including purchases made during the 2025-26 crushing season. Under the National Edible Oil Mission-Oil Palm, eligible farmers can receive free saplings and subsidies for drip irrigation, borewells and other facilities. Processing companies must ensure timely procurement, prompt payments and replacement of damaged plants. The government also plans to double its oil palm cultivation expansion target next year.

Wheat Prices Cross ₹3,000 per Quintal, Basmati Rice Prices May Recover

​Wheat prices in Delhi’s Lawrence Road mandi reached ₹3,000 per quintal on October 13, 2026. Meanwhile, 1509 basmati paddy prices declined after rising to ₹4,600–₹4,700 per quintal. Punjab, Haryana and Uttar Pradesh mandis reported varying rates, while New Steam Sella (A+) rice traded at ₹8,750–₹8,900. Future prices will depend on rainfall, crop damage, arrivals, quality and demand.

Maharashtra Farmer Loan Waiver 2026: Third List Released, 3.51 Lakh Farmers Included

​Maharashtra released the third list of its Punyashlok Ahilyadevi Holkar Kisan Karj Mafi Yojana on October 12, 2026, covering 3,51,192 farmers. Eligible farmers can receive crop loan waivers of up to ₹2 lakh. Around 24.67 lakh farmers feature across three lists. Beneficiaries must verify loan details and complete Aadhaar authentication at their nearest Aaple Seva Kendra before receiving the benefit.

Ladli Behna Yojana 41st Installment Released: ₹1,500 Transferred to Eligible Women

Madhya Pradesh released the 41st installment of the Ladli Behna Yojana on October 14, 2026, transferring ₹1,500 each to approximately 1.25 crore eligible women. The government released ₹1,875 crore through a single-click transfer in Umaria district. Beneficiaries can check payment status on the official website, through bank passbooks, SMS alerts, mobile banking or UPI applications.

Mustard Prices Cross ₹10,000 per Quintal at Saloni Plant

​Mustard prices reached ₹10,001 per quintal at Saloni’s Shamsabad, Digner and Alwar plant centres on October 15, 2026. Alwar recorded the highest daily increase of ₹75, while Jaipur Mandi prices rose to ₹9,125–₹9,150. All-India arrivals stood at 2.25 lakh bags. Festive demand, limited supplies and global edible oil trends are supporting prices, though future movements remain uncertain.

Fieldmarshal Launches ARAI-Certified TREM V 15 HP and 18 HP Diesel Engines

​Fieldmarshal P.M. Diesels has launched India’s first ARAI-certified TREM V-compliant single-cylinder diesel engines in 15 HP and 18 HP ratings. Featuring indigenous EGR technology, compact packaging and enhanced cooling, they are designed for compact tractors and agricultural machinery. The company has filed multiple patent applications and aims to capture 10%-15% of India’s below-20 HP tractor market within three years through its Shridev brand.

Domestic Tractor Sales Fall 18.14% in September 2026; Sonalika Records Growth

​India’s domestic tractor sales declined 18.14% year-on-year to 1,19,667 units in September 2026. Mahindra & Mahindra Group led with 50,208 units, followed by TAFE Group with 19,711. Sonalika was the only listed major brand to record growth, rising 6.20% to 19,086 units and gaining 3.66 percentage points in market share. John Deere reported the smallest decline among the top five at 6.10%.

UP Ujjwala Yojana 2026-27: Two Free LPG Cylinder Refills on Holi and Diwali

​Uttar Pradesh has approved two free LPG cylinder refills for eligible Pradhan Mantri Ujjwala Yojana beneficiaries in 2026-27, one during Diwali and another during Holi. The government has allocated ₹2,142.78 crore, with approximately 1.86 crore women expected to benefit. Beneficiaries should verify their Ujjwala connection, Aadhaar authentication and bank details to avoid delays in receiving the benefit.

Also Read: CMV360 Weekly Wrap (5-9 Oct 2026): CV Sales Boom, EV Truck Launch, Tractor Growth & Farmer Benefits

CMV360 Says

That’s a wrap on the major developments from October 12–17, 2026, on CMV360. This week highlighted the continued push towards electric mobility, fresh investments in commercial transportation, new product developments and important changes in the agricultural market. Alongside industry updates, government initiatives continued to bring financial support and benefits to farmers and eligible households. Stay connected with CMV360 for the latest news, industry updates and market insights across commercial vehicles, smart farming and electric mobility. Don’t forget to follow CMV360 for more weekly updates.