Lithium Urban secures JSW Green Mobility investment to drive EV growth

Summary

Eversource Capital-backed Lithium Urban Technologies has secured a strategic equity investment from JSW Green Mobility to accelerate the expansion of its enterprise electric mobility business. The partnership aims to support a threefold increase in operations over the next two years through fleet growth, charging infrastructure expansion and technology enhancements across India’s corporate transportation sector.

MUMBAI, June 25, 2026 — Lithium Urban Technologies, an enterprise electric mobility company backed by Eversource Capital, has received a strategic investment from JSW Green Mobility to support its next phase of growth in India’s business-to-business electric transportation market.

The companies said the investment will help Lithium Urban pursue a target of tripling its operations over the next 24 months by expanding its electric vehicle fleet, charging infrastructure network and technology platform. Financial details of the transaction were not disclosed.

Founded in 2015, Lithium Urban provides electric mobility solutions for corporate employee transportation and currently operates across several major Indian cities. The company manages more than 25,000 trips daily through a fleet of over 3,000 electric vehicles supported by approximately 1,300 charging points, serving more than 100 corporate customers.

The investment strengthens ties between Lithium Urban and the broader JSW Group, which has expanded its presence in the electric mobility sector through ventures including JSW MG Motor India and JSW Greentech.

Parth Jindal of JSW Group said India’s transportation sector is undergoing rapid transformation driven by urbanization, sustainability goals and evolving mobility requirements. He added that integrated mobility platforms will play an increasingly important role in supporting large-scale corporate transportation needs.

Dhanpal Jhaveri, Chief Executive Officer of Eversource Capital, said the mobility industry is increasingly being shaped by integrated ecosystems that combine vehicles, charging infrastructure, technology and operational capabilities.

Lithium Urban Chief Executive Officer Don Thomas said the partnership with JSW Green Mobility would help the company accelerate vehicle deployment, expand charging infrastructure and further strengthen its technology-driven fleet management capabilities.

The company said the fresh capital will be used to grow its electric vehicle fleet, expand charging networks and enhance its operational technology platform.

Merisis Advisors acted as the exclusive financial advisor to Lithium Urban Technologies on the transaction.

The deal comes as India’s corporate mobility sector continues to adopt electric transportation solutions in response to sustainability commitments, lower operating costs and government support for clean mobility initiatives.

Why this matters

• Expansion of enterprise EV mobility: The investment highlights growing demand for electric mobility solutions in the corporate transportation segment.
• Strengthening India’s EV ecosystem: The partnership connects vehicle manufacturing, charging infrastructure and fleet operations within a broader electric mobility value chain.
• Focus on scalable business models: Enterprise transportation contracts provide recurring demand and predictable fleet utilization for EV operators.
• Support for clean transportation goals: The expansion aligns with India’s efforts to reduce emissions and accelerate adoption of electric mobility solutions.

FAQs

Q1: What is the purpose of JSW Green Mobility’s investment in Lithium Urban?

The investment is intended to support Lithium Urban’s expansion plans, including growth of its electric vehicle fleet, charging infrastructure and technology capabilities.

Q2: How large is Lithium Urban’s current operation?

The company operates more than 3,000 electric vehicles, manages over 25,000 trips daily and supports its fleet through around 1,300 charging points.

Q3: What growth target has Lithium Urban set?

The company aims to achieve approximately threefold growth in its operations over the next two years.

Q4: How does the investment fit into JSW Group’s EV strategy?

The investment complements JSW Group’s broader electric mobility interests, including its involvement in vehicle manufacturing and clean transportation initiatives.

Q5: Who advised Lithium Urban on the transaction?

Merisis Advisors served as the exclusive financial advisor to Lithium Urban Technologies.