Refex Industries Limited — Updates, 17-04-2025: Press Release

Refex Green Mobility Limited (RGML), a wholly owned subsidiary of Refex Industries Limited, has restructured its Bengaluru operations by discontinuing its airport-based EV taxi services. This strategic shift aims to enhance focus on scalable electric mobility solutions tailored for enterprise and institutional clients through long-term partnerships. The company has rapidly expanded from a fleet of 24 vehicles in March 2023 to nearly 1,300 electric four-wheelers, now utilized for diverse applications including employee transportation, corporate rentals, and partnerships with major ride-hailing platforms in cities such as Bengaluru, Chennai, Hyderabad, and Mumbai.

Refex's commitment to delivering high-quality mobility services is fortified by its fully integrated B2B and B2B2C EV platform, featuring company-owned vehicles and verified driver partners supported by technological infrastructure. This reorientation reinforces the potential for future growth, aligning with the increasing demand for sustainable transport solutions. Investors should watch closely as this development positions Refex as a significant player in the electric mobility sector, with promising prospects for expansion and strategic collaborations.