Zelio E-Mobility Appoints Divyanshu Agarwal as CEO to Drive Expansion

Zelio E-Mobility, an electric two- and three-wheeler manufacturer based in India, has appointed Divyanshu Agarwal as its Chief Executive Officer on April 15, 2026. The decision was approved through a resolution by circulation by the Board of Directors, following a recommendation from the Nomination and Remuneration Committee. At 26 years of age, Agarwal steps into the leadership role at a time when the company is scaling its operations and strengthening its position in the electric mobility sector.

Agarwal is a Chartered Accountant and previously worked at Navi Limited, a fintech company founded by Sachin Bansal. He joined Navi in November 2021 and advanced rapidly within the organization. By July 2025, he was leading the UPI Business and Growth division, where he played a key role in scaling operations, establishing strategic partnerships, and contributing to the company’s DRHP process and private equity fundraising. Before Navi, he trained at Price Waterhouse Chartered Accountants in Kolkata, gaining experience in statutory audits of listed firms.

In his new role, Agarwal will be responsible for driving operational execution and overseeing expansion initiatives. These include the development of new manufacturing facilities in Odisha and Coimbatore, along with scaling distribution networks and aligning products with market demand. His mandate also includes ensuring disciplined growth while maintaining product reliability and customer trust in an increasingly competitive EV market.

Commenting on his appointment, Agarwal stated that Zelio is entering a phase where structured growth and clear strategic direction are critical. He emphasized the importance of strengthening core operations, expanding market reach in a controlled manner, and delivering dependable products. According to him, the company’s opportunity lies in executing its vision with consistency and discipline to build long-term value.

Kunal Arya, Managing Director of Zelio E-Mobility, highlighted Agarwal’s combined expertise in finance and business operations. He noted that Agarwal’s exposure to high-growth environments positions him well to lead the company through its next phase. Arya emphasized that as Zelio expands, there is a growing need for sharper execution and long-term strategic thinking, both of which Agarwal brings to the role.

Zelio E-Mobility IPO and Business Scale Overview

The leadership transition follows Zelio’s successful initial public offering, where the company raised ₹78.34 crore. The IPO included a fresh issue of ₹58.84 crore and an offer for sale of 11.4 lakh shares valued at ₹15.50 crore. The offering saw an overall subscription of 1.5 times, reflecting moderate investor confidence in the company’s growth trajectory and its positioning within the electric mobility segment.

Zelio currently operates through a network of more than 350 dealers across over 20 states and union territories in India. The company has built a customer base exceeding two lakh riders. Its product portfolio includes electric two-wheelers under the Zelio brand and electric three-wheelers marketed under the Tanga brand, supporting both personal and commercial mobility applications.

Zelio E-Mobility Key Business Metrics

The following table highlights the company’s current operational scale and recent financial milestone.

The appointment of a new CEO marks a strategic step for Zelio E-Mobility as it aligns leadership capabilities with expansion goals. With ongoing investments in manufacturing, distribution, and product development, the company aims to strengthen its foothold in the rapidly evolving electric mobility ecosystem.

Frequently Asked Questions

Who is Divyanshu Agarwal and what is his role at Zelio E-Mobility?
Divyanshu Agarwal is a Chartered Accountant who has been appointed as the Chief Executive Officer of Zelio E-Mobility to lead its operational execution and expansion strategy. He previously worked at Navi Limited, where he led UPI business growth and handled key initiatives such as fundraising and partnerships. At Zelio, he will oversee manufacturing expansion, distribution scaling, and product alignment with market needs, supporting the company’s growth following its IPO and increasing presence across India.