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Refex Industries’ arm enters into agreement with one of India’s largest ride-hailing platforms

Refex Industries Ltd. | Industrial Gases & Fuels | Oil & Gas | BSE: 532884 | NSE: REFEX

05 Mar 2025 Evaluate

In a significant step towards accelerating sustainable urban mobility, Refex Green Mobility (Refex eVeelz), a wholly owned subsidiary of Refex Industries, has entered into an agreement with one of India’s largest ride-hailing platforms to induct and operate 1,000 electric four-wheelers (e4Ws) across Chennai, Hyderabad, Bengaluru, and Mumbai in FY26. This expansion is a part of the company’s strategic growth roadmap and reinforces its commitment to India’s clean mobility transition.

With a 100% electric fleet, this initiative marks another milestone in Refex eVeelz’s mission to drive large-scale EV adoption while reducing urban carbon footprints by minimizing tailpipe emissions. The ride-hailing platform will continue to cater to demand and build new mobility categories, while Refex eVeelz will focus on seamless service delivery, ensuring reliable and sustainable transportation solutions.

Already a leader in four-wheeler EV-as-a-service, Refex eVeelz operates a fleet of nearly 1,300 electric vehicles at present, across multiple cities such as Chennai, Bengaluru, Hyderabad, Mumbai, and Pune. The addition of 1,000 new e4Ws, combined with the organic growth of its fleet size in the employee transportation segment, will further solidify its role in driving the mainstream adoption of electric mobility solutions across India.

This initiative aligns with India’s broader sustainability goals, contributing to the nation’s long-term vision of net-zero emissions by 2070. By focusing on scalable, tech-enabled operations and strategic partnerships, Refex eVeelz continues to pave the way for a greener, more sustainable urban transportation ecosystem.

Refex Industries (RIL) is a specialist manufacturer and re-filler of Refrigerant gases in India, particularly, environmentally acceptable gases that are replacements for Chloro-fluoro-carbons (CFC’s).

Refex Industries Share Price

244.75 0.35 (0.14%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Petronet LNG	273.05
Bharat Coking Coal	35.75
Linde India	7234.30
Refex Industries	244.75
IRM Energy	220.60
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Refex Industries’ arm enters into agreement with one of India’s largest ride-hailing platforms

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