Zelio E-Mobility, a Haryana-based electric vehicle startup, is planning a major expansion for its electric three-wheeler business under the Tanga brand. The company aims to set up a new manufacturing unit in Hisar, expected to start operations by April 2026. This strategic expansion is projected to contribute 30–40% to the company’s revenue in the coming years.
Currently, Zelio operates a plant in Hisar with an annual capacity of 72,000 electric two-wheelers. The company plans to invest around ₹20 crore in the new facility, which will cover setup costs, debt repayment, working capital, and research & development. This move will help diversify operations and reduce reliance on a single location, mitigating business risks.
For the financial year 2025, Zelio reported revenue of ₹172 crore, EBITDA of ₹21 crore, and a profit after tax (PAT) of ₹16 crore. Between FY 2023 and FY 2025, the company achieved a compound annual growth rate (CAGR) of 83% in revenue and 128% in PAT. To support expansion and financial requirements, Zelio received approval for a ₹78 crore SME Initial Public Offering (IPO) from SEBI. The IPO, managed by Hem Securities Ltd., opened on September 30 and closed on October 3, comprising 46.2 lakh fresh equity shares and 11.4 lakh shares offered for sale, priced between ₹129 and ₹136 per share.
The expansion under the Tanga brand aligns with the growing demand for eco-friendly and efficient urban mobility solutions in India. By enhancing production capacity, Zelio aims to meet rising demand for electric three-wheelers in urban and semi-urban markets, positioning itself strongly in this segment.
As part of its growth strategy, Zelio is allocating funds for research and development to improve technology, vehicle performance, and design features. Strengthening R&D efforts is expected to drive innovation and enhance Zelio’s competitiveness in the fast-evolving electric vehicle industry.
With the new manufacturing unit and the completion of its IPO, Zelio E-Mobility is well-positioned for significant growth in the electric three-wheeler market. Strategic investments in production, research, and market expansion are set to drive the company’s success in India’s growing EV landscape.
