CMV360 Weekly Wrap-Up | 2nd – 7th March 2025: JEM Tez e-LCV Launch, Ashok Leyland Sales Growth, PM E-Drive Localization Rules, FADA Market Trends, Sonalika’s Record Sales, and More

Welcome to this week’s CMV360 Weekly Wrap-Up, your trusted source for the latest updates in India’s mobility, commercial vehicle, and agriculture sectors.

In this edition, we cover major industry developments, including the launch of JEM Tez electric LCV at ₹10.35 lakh and its new manufacturing plant in Indore. Ashok Leyland reported a 2.73% sales growth in February 2025, while the Ministry of Heavy Industries introduced new localization rules under the PM E-Drive Scheme to strengthen domestic EV manufacturing. FADA’s latest report revealed a 1.92% decline in three-wheeler sales, and Hala Mobility is set to deploy 2,000 electric trikes with iGowise.

On the agriculture front, the Jharkhand government announced a ₹140 crore subsidy scheme for farming equipment, and Sonalika recorded its highest-ever February tractor sales with 10,493 units. Meanwhile, the domestic tractor market saw a 14.28% YoY growth, with 59,165 units sold. Stay tuned as we bring you the key insights shaping India’s transport and agricultural landscape.

JEM Tez Electric LCV Launched At Rs 10.35 Lakh; Opens New Manufacturing Facility In Indore

​Jupiter Electric Mobility (JEM) has launched the JEM TEZ, an electric light commercial vehicle (e-LCV) with a 190+ km range, 80kW power, and a 1.05-ton payload. It features fast charging, dual drive modes, and a 7-year battery warranty. JEM opened a 2.5-acre Indore plant to manufacture 8,000–10,000 e-LCVs annually. Priced at ₹10.35 lakh, it targets urban transport. JEM plans nationwide expansion and has partnered with Porter, Pulse Energy, Battwheel, and Tapfin to strengthen India's EV ecosystem.

Ashok Leyland Sales Report February 2025: Reports 2.73% Growth

​Ashok Leyland's total sales rose by 2.73% in February 2025, reaching 15,339 units. Domestic sales fell by 1.57% to 14,137 units, with the M&HCV segment declining by 3%. However, exports surged by 111.25% to 1,202 units, with M&HCV exports soaring 206.08%. LCV domestic sales grew by 1%, and exports increased by 67.01%. Despite domestic challenges, strong export growth highlights the company's expanding global presence, which could help long-term recovery.

MHI Issued Update on Localization Rules in PM E-Drive Scheme To Strengthen EV Manufacturing

​The Ministry of Heavy Industries has updated the PM E-DRIVE Scheme to boost domestic EV manufacturing. From May 1, 2025, key components like battery packs, control units, and chargers for electric two-wheelers, three-wheelers, and buses must be locally produced. Import restrictions on CKD parts will support self-reliance. EV buses must have locally made HVAC systems and battery packs. Separate notifications for e-ambulances and e-trucks will follow. This initiative aims to strengthen India's EV supply chain and create job opportunities.

FADA Sales Report February 2025: Three-wheeler (3W) sales decreased by 1.92% YoY

FADA's February 2025 report showed a 1.92% decline in vehicle sales. The market saw a 7% YoY drop across all categories. Three-wheeler sales fell 12.01% from January, with E-Rickshaw (goods) sales rising 44.10% YoY. Bajaj Auto led with 34,644 units sold, while Mahindra & Mahindra saw growth with 6,501 units. Dealers raised concerns about excess inventory. Despite the slowdown, key players like Bajaj and Mahindra maintained strong positions, and e-rickshaws with carts showed promising growth.

Hala Mobility Partners with iGowise to Deploy 2,000 Made-in-India High-Speed Electric Trikes

Hala Mobility partnered with iGowise Mobility to introduce 2,000 electric trikes for last-mile delivery in Hyderabad and Bangalore. The BeiGo electric trikes offer better cargo space and stability than two-wheelers. Hala Mobility recently raised INR 51 crore and plans to deploy 10,000 EVs by December 2025. This partnership supports India's target of 80 million EVs on the road by 2030. Experts believe electric trikes can improve delivery efficiency while reducing costs and emissions, making them a practical choice for last-mile logistics.

EKA appoints Mohit Sharma as chief HR officer

EKA Mobility has appointed Mohit Sharma as its new CHRO. With 27 years of experience in HR, Sharma will focus on strengthening HR policies and fostering a performance-driven work culture. The company is expanding its EV ecosystem and investing in local production to support the Make in India initiative. EKA Mobility specializes in electric buses, three-wheelers, and commercial trucks, contributing to India’s sustainable mobility sector.

VST Tractor Sales Report February 2025: 3,260 Units Sold

VST Tillers Tractors reported a 21.82% decline in total sales for February 2025, selling 3,260 units compared to 4,170 units in February 2024. Power tiller sales dropped 21.75% to 2,952 units, while tractor sales declined 22.41% to 308 units. Year-to-date (YTD) sales reached 34,692 units, down 6.57% from 2024. VST may need strategic measures to improve sales performance in the coming months.

Sonalika Records Highest-Ever YTD Tractor Sales of 10,493 Units in Feb 2025

Sonalika Tractors achieved a new milestone by selling 10,493 tractors in February 2025, marking its highest-ever sales for the month. The company also recorded its highest YTD domestic sales for February, outperforming industry growth. Sonalika remains committed to innovation, offering advanced farm technologies to enhance productivity and support farmers of all scales.

Jharkhand Government Announces Rs 140 Crore for Agricultural Equipment Distribution Scheme

​The Jharkhand government has allocated Rs 140 crore under the Agricultural Equipment Distribution Scheme to provide subsidies on farming machinery, benefiting 8,400 farmers in 2025-26. The state budget also includes Rs 4,587.66 crore for agriculture and allied sectors, supporting various schemes like crop insurance, warehouse construction, and modern farming tools. These initiatives aim to boost productivity, reduce financial strain, and improve farmers livelihoods.

Domestic Tractor Sales Report February 2025: 14.28% Growth, 59,165 Units Sold

​The Indian tractor market grew by 14.28% in February 2025, with total sales reaching 59,165 units. M&M Group led with 23,880 units, marking an 18.68% increase. Escorts Kubota overtook Sonalika for third place, while SDF saw the highest growth at 738%. Some brands faced declines in sales and market share, highlighting the competitive nature of the industry.

FADA Retail Tractor Sales Report February 2025: 65,574 Units Sold with Mahindra Leading the Market

​The Indian tractor market recorded 65,574 retail sales in February 2025, down from 76,693 units in February 2024. Mahindra (Tractor Division) led with 15,510 units, followed by Swaraj (12,737 units) and Sonalika (8,350 units). Escorts Kubota improved its market share, while brands like TAFE, Eicher, and Kubota saw declines. The sales dip may be due to seasonal factors or changing market trends.

Also Read: CMV360 Weekly Wrap-Up | 22nd Feb – 1st March 2025: Scania-DHL E-Truck Trials, Ecofuel’s Green Expansion, VECV’s ₹1,500 Cr EV Investment, Olectra’s Heavy-Duty EV Trucks, Mahindra & Escorts Sales Surge, and More

CMV360 Says

That’s all for this edition of CMV360 Weekly Wrap-Up! India’s mobility and agricultural sectors continue to evolve, with key developments such as JEM Tez’s e-LCV launch, Ashok Leyland’s export surge, and new localization rules under the PM E-Drive Scheme shaping the industry. In the farming sector, Sonalika’s record tractor sales and Jharkhand’s ₹140 crore subsidy initiative highlight strong market momentum. With ongoing innovations, government support, and rising investments, both industries are set for a transformative future. Stay tuned to CMV360 for the latest updates on India’s transportation and agriculture landscape!