Mahanagar Gas Ltd (MGL) is in talks with leading manufacturers of two-wheelers for its electric vehicle (EV) battery cell. Delivery expected by 2026, Managing Director Ashu Singhal told Moneycontrol. MGL has opened discussions with the likes of Hero Honda, TVS Motor Corp and Bajaj Auto and expects a positive response. According to reports, India’s electric two- wheeler market has seen a 24 percent surge in sales after the Budget, which was presented on February 1, fuelled by increasing fleet demand and growing consumer interest. Energy companies are increasingly looking to diversify into the clean energy business. The total capex for the first phase is around Rs 870 crore, with returns of the project expected between 16 and 18 percent, Singhal added. The joint venture, in which MGL holds a 40 percent stake, will develop two plants with a combined capacity of 500 megawatts, ultimately scaling up to a 1-gigawatt factory.