JSW Green Mobility acquires stake in Lithium Urban; EV mobility platform eyes 3x growth, up to 15,000 jobs

JSW Green Mobility has acquired a strategic stake in Eversource Capital-backed Lithium Urban Technologies, marking a significant bet on India’s rapidly expanding electric mobility ecosystem. The investment will support the enterprise mobility platform’s plans to triple its business over the next two years, expand charging infrastructure and electric fleets, and potentially create 12,000–15,000 jobs.

The deal strengthens JSW Group’s presence in the clean mobility value chain at a time when corporate transportation, ride-hailing and logistics operators are increasingly shifting towards electric vehicles. Lithium currently manages more than 25,000 trips a day through a network of over 3,000 vehicles and 1,300 chargers, serving more than 100 enterprise customers across India.

Building scale in enterprise EV mobility

The strategic partnership is expected to accelerate Lithium’s next phase of growth as demand for technology-enabled and sustainable mobility solutions gathers pace. Over the years, the company has built an integrated platform spanning electric fleets, charging infrastructure, fleet intelligence systems and centralised operational command capabilities.

Dhanpal Jhaveri, chief executive officer of Eversource Capital, said mobility is increasingly becoming an ecosystem play where value will accrue to platforms capable of integrating infrastructure, technology and operations at scale.

“By combining fleets, charging infrastructure, intelligent mobility systems and centralised operational oversight within a single platform, Lithium has developed capabilities that are increasingly difficult to replicate at scale. We look forward to this partnership with JSW Group as Lithium enters its next phase of value creation,” he said.

JSW bets on electrification-led growth

Parth Jindal, of JSW Group said India’s mobility landscape is undergoing a structural transformation driven by rapid urbanisation, electrification and the growing scale of digital commerce.

“We believe the future will be shaped by integrated, technology-led mobility platforms that can deliver reliability, operational efficiency and scale. Lithium has built a differentiated business with strong execution capabilities and high-quality infrastructure. We are excited to partner with Lithium Urban as it accelerates growth and helps shape the future of clean mobility in India,” Jindal said.

Don Thomas, chief executive officer of Lithium Urban Technologies, said the opportunity in India’s commercial mobility market goes beyond merely replacing conventional vehicles with electric ones.

“The opportunity ahead is not simply to replace vehicles, but to build the infrastructure, operating systems and technology capabilities required to make electrification work at scale,” Thomas said, adding, "Their partnership will help us accelerate electric fleet deployment, expand charging infrastructure and continue strengthening the technology capabilities that underpin our platform.”