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VMPL
New Delhi [India], October 5: SwitchLabs, an EV Truck-as-a-Service platform for enterprise logistics, today shared key operating milestones as it scales toward ~500 electric heavy-duty trucks by the end of FY2027. With marquee industrial customers, secured lease commitments and a fast-growing order book, the company is building a platform for India's shift to electric freight. Milestones at a glance - Fleet: From just one operational truck in October 2025 to a fleet of 70 today, SwitchLabs is on track to deploy 250 electric heavy-duty trucks by December 2026. - Order book: More than 450 trucks signed, under deployment or in the pipeline, up from about 70 in March 2026 - Customers: Tata Steel, JSW Steel, United Phosphorus Limited, Dalmia Cement and JK Lakshmi Cement, across cement, metals and industrial sectors - Supply and leasing: Lease commitments for more than 250 trucks, secured with leading OEMs and leasing platforms on competitive commercial terms, More Such deals are under closure A full-stack platform for enterprise freight SwitchLabs brings together electric trucks, charging and energy infrastructure, fleet operations, technology and carbon reporting on a single platform, so large enterprises can electrify freight without managing the underlying complexity. With crude oil volatility and energy security concerns reshaping transportation economics, electric freight is moving from an environmental objective to a strategic business imperative for India. Ajay Pratap Singh, CEO & Co-founder, SwitchLabs, said: "In about a year, we have gone from a single truck on the road to being on track for 250 electric heavy-duty trucks by December 2026, with an order book that has grown from about 70 to over 450 trucks. That pace reflects what enterprises want: one accountable partner for trucks, charging, operations and technology. We are focused on disciplined execution, so that every truck we add ramps up reliably and delivers for our customers." Once deployed these 450 Truck will save around 50000 Tons of CO2e Enterprise demand across cement, steel and industrials SwitchLabs began operations with JK Lakshmi Cement and has since expanded its customer base to include Tata Steel, UPL, Dalmia Cement and JSW Steel. To support this growth, the company has partnered with leading OEMs and leasing platforms, strengthening its ability to scale deployments efficiently across high-volume freight corridors. Anish Kumar, Co-founder, SwitchLabs, said: "Our customer base has grown from our first customer, JK Lakshmi Cement, to leaders such as Tata Steel, JSW Steel, UPL and Dalmia Cement. For these enterprises, electric freight is no longer just a sustainability goal. It is increasingly a business decision driven by cost, energy security and reliability. The recent energy crisis and volatility triggered by the conflict in the Gulf have further underscored the risks of dependence on fossil fuels and the importance of greater energy predictability. Enterprises want a complete solution covering infrastructure, financing, operations and technology, and that is what we are building." Revenue outlook SwitchLabs is targeting the addition of around 450 trucks to its operating fleet by March 2027. As these trucks are deployed and ramp up, monthly revenue is expected to grow 8 10 x from the current MRR. "At this scale, SwitchLabs will be positioned to build towards an annualized revenue run-rate of approximately 300 crore, with further growth expected as our contracted fleet and enterprise customer base expand." With increasing corporate focus on decarbonization, ESG compliance and sustainable supply chains, SwitchLabs aims to play a significant role in building the clean logistics infrastructure for India's next phase of freight mobility. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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