SwitchLabs Order Book Hits 450 EV Trucks

SwitchLabs Order Book Hits 450 EV Trucks

On 5 October 2026, SwitchLabs – an electric‑truck‑as‑a‑service platform serving enterprise logistics – released a press statement outlining rapid growth milestones and forward‑looking financial targets.

The company reports that its order book now exceeds 450 electric heavy‑duty trucks, a jump from roughly 70 trucks recorded in March 2026. These trucks are either signed, under deployment, or in the pipeline.

Fleet size has expanded from a single operational truck in October 2025 to 70 trucks operational as of October 2026. SwitchLabs is on track to deploy 250 trucks by December 2026 and ultimately add around 450 trucks to its operating fleet by March 2027, aiming for a total of ~500 trucks by the end of FY 2027.

Key enterprise customers now include Tata Steel, JSW Steel, United Phosphorus Limited, Dalmia Cement, JK Lakshmi Cement, and UPL, spanning the cement, metals and broader industrial sectors.

The firm has secured lease commitments for more than 250 trucks with leading original equipment manufacturers (OEMs) and leasing platforms on competitive commercial terms, with additional deals under closure.

Revenue outlook: SwitchLabs projects that monthly recurring revenue (MRR) will grow 8‑10 times the current level as the fleet scales, translating to an annualized revenue run‑rate of approximately ₹300 crore once the 450‑truck fleet is fully deployed.

Environmental impact: Deployment of the 450‑truck fleet is expected to avoid roughly 50,000 tons of CO₂‑equivalent emissions.

Management commentary:

• Ajay Pratap Singh, CEO & Co‑founder, highlighted the acceleration from one truck to a projected 250 trucks by December 2026 and emphasized disciplined execution to ensure reliable ramp‑up.
• Anish Kumar, Co‑founder, noted that large enterprises now view electric freight as a strategic business decision driven by cost, energy security and reliability, especially in light of recent crude‑oil volatility linked to Gulf conflicts.

SwitchLabs positions its full‑stack platform – integrating electric trucks, charging infrastructure, fleet operations, technology and carbon reporting – as a single partner solution that removes complexity for enterprises seeking to electrify freight. The company expects continued growth as corporate decarbonisation, ESG compliance and sustainable supply‑chain priorities intensify across India’s logistics landscape.