People · Mobility & Logistics

Zelio E-Mobility appoints Divyanshu Agarwal as CEO

By Startup Enthusiast · 15 April 2026

What they do

Zelio E-Mobility makes electric two-wheelers and three-wheelers for non-metro markets

Divyanshu Agarwal, ex-Navi UPI head, became CEO on 15 April 2026

The company is profitable and listed on BSE SME, with operations in over 25 states

Zelio E-Mobility appointed Divyanshu Agarwal as its new CEO, effective 15 April 2026.
Agarwal, aged 26, is a chartered accountant and previously headed UPI business and growth at Navi.
He joined Navi in 2021 as a finance associate and rose to lead UPI business in July 2025.
Agarwal left Navi in April 2026 before taking the CEO role at Zelio, which had been vacant prior.
At Navi, he was involved in the DRHP process and private equity fund raise initiatives.
He trained at Price Waterhouse Chartered Accountants, auditing listed companies.
Agarwal holds a commerce degree from St. Xavier's College Kolkata.
He is not related to any director or promoter and is not restricted by any regulatory authority.

The CEO position was vacant before Agarwal's appointment.
Founder Kunal Arya remains managing director, having led operations since inception.
The appointment comes as Zelio focuses on non-metro markets and avoids direct competition with Ola Electric and Ather Energy.
The company is preparing for commercial mobility segments like delivery services.

Zelio manufactures and sells electric two-wheelers and three-wheelers.
It focuses on non-metro markets with low-speed E2Ws capped at 25 kmph.
The company operates in over 25 states (one source says 23+).
It has a dealer network of more than 300 partners.
Its strongest markets are North and East India, including Haryana, Uttar Pradesh, and West Bengal.
Zelio has a six-acre manufacturing facility in Hisar with annual capacity of 72,000 units.
It plans to increase component localisation from 20–30% to 70–80% over three years.
The company reported profit of ₹11.8 Cr in H1 FY26, up 69% year-on-year.
Revenue in H1 FY26 was ₹133.3 Cr, up 77% year-on-year.

Increase component localisation to 70–80% over the next three years.
Prepare for commercial mobility including delivery services and small business transport.