In recent years, there has been a significant rise in the demand for motorcycles and scooters in the market. This upsurge can be credited to the affordability and convenience that these forms of transportation offer. Furthermore, the emergence of electric two-wheelers has led to a sustainable revolution, providing an eco-friendly alternative. In this article, we will analyze the leading electric two-wheeler companies in India, focusing on their market share.
1. Ather Energy
In a market largely dominated by traditional petrol and diesel vehicles, Ather Energy Pvt. Ltd., an Indian startup, stands resolute in its dedication to providing environmentally friendly transportation solutions. Their primary objective is to offer a cutting-edge electric scooter that not only delivers outstanding performance but also enhances the overall riding experience. Moreover, Ather Energy places significant emphasis on establishing a robust charging infrastructure to meet the increasing demand for electric vehicles in India.
2. OLA Electric
Headquartered in Bangalore, Ola Electric Mobility is a prominent Indian manufacturer of electric two-wheelers. It emerged as an independent entity in 2019 and commenced the delivery of electric scooters in December 2021. Presently gearing up for a public listing, the company recently experienced a remarkable 17,121% increase in its authorized share capital. The Ola S1 model, drawing inspiration from the Etergo AppScooter design, garnered significant acclaim as one of the noteworthy electric two-wheeler launches in India in 2021. Impressively, in 2022, Ola Electric Mobility achieved remarkable sales, reaching an impressive figure of 108,130 units. This outstanding performance enabled them to capture a significant market share of 17.57%.
3. Hero Electric
Hero Electric, a renowned electric motorcycle manufacturer in India, holds a prominent position in the industry. With a wide range of models, including the popular Optima, Flash, and Photon, Hero Electric offers a diverse selection of electric bikes to meet various customer preferences. Among these options, the Optima stands out as a favoured choice due to its remarkable features. It provides an impressive single-charge range of up to 50 km and reaches a top speed of 25 km/h, making it a standout option for customers.
4. Okinawa Autotech
Having been founded in 2015, this company has established a strong foothold in the electric two-wheeler sector. It achieved remarkable sales of 101,366 units in the year 2022, securing the second position and capturing a market share of 16.47%. The company’s future strategy entails the annual introduction of three new electric scooter models and expansion into e-motorcycle manufacturing. Okinawa has successfully launched multiple electric two-wheeler models catering to diverse price ranges. Significantly, their intelligent scooters are complemented by a proprietary smartphone application, elevating the overall customer experience.
TVS Motor Company Ltd holds a significant position in the two-wheeler industry, ranking third in India and among the top ten globally. It boasts a remarkable market presence in emerging regions such as Latin America, South Asia, the Middle East, and Africa. With its dedicated electric vehicle division, TVS Electric Mobility, comprising a team of over 600 engineers, the company is actively spearheading the progress of EV technology. To further fortify its standing in the electric vehicle sector, TVS Motor Company has formed a strategic partnership with BMW Motorrad for the collaborative manufacturing of electric vehicles.
6. Bounce Infinity E1
The scooters manufactured by this company showcase a unique retro design, distinguished by a torch-shaped headlight and dashboard module that add to their distinctive allure. These scooters offer riders affordable choices, with prices ranging approximately from Rs. 45,099 to Rs. 70,499. Featuring a 1.9 kWh battery capacity, they require approximately 4 to 5 hours to attain a complete charge, ensuring convenient usability.
7. Ampere Vehicles
Based in Chennai, Ampere Electric is an e-bike manufacturer that provides a varied range of models, such as the Zeal, Reo, and Magnus. Among these offerings, the Zeal has gained popularity as a preferred option due to its notable features. It proudly offers an impressive range of up to 75 km on a single charge and attains a top speed of 25 km/h.
8. Simple One
With a contemporary design, this electric scooter manufacturer presents an exceptional range within its segment, reaching up to 300 kilometres. Equipped with an advanced touchscreen-enabled dashboard, remote access capabilities, geo-fencing functionality, and a wide range of other cutting-edge features, the scooter offers a truly state-of-the-art experience. Furthermore, it is offered in a captivating assortment of colours, catering to a wide range of preferences.
9. Pure EV
Pure EV, a startup specializing in electric scooters, has quickly emerged as a significant player in the Indian market, garnering recognition and establishing a strong presence. Their lineup of environmentally friendly and innovative products has received recognition for their outstanding quality and performance. By prioritizing the accessibility of its offerings to a diverse range of customers, Pure EV is making a noteworthy impact in the electric vehicle industry.
10. Bajaj Auto
Bajaj holds the notable distinction of being the world’s third-largest motorcycle manufacturer and the second-largest in India. The company has reaffirmed its dedication to promoting a cleaner environment by emphasizing its focus on electric vehicles (EVs) and compressed natural gas (CNG) as cleaner fuel alternatives. As a publicly listed company, Bajaj has achieved a market capitalization of Rs 1,05,000 Crores. In January 2020, the company introduced its first-ever e-scooter, the Chetak, which offers two variants: Urbane and Premium. Since its introduction, this electric vehicle has enabled Bajaj to capture a market share of 4.02% in the electric two-wheeler segment.
The electric bike market in India is undergoing an extraordinary transformation fueled by the leading electric bike manufacturers within the country. These manufacturers are actively shaping the future of transportation through their innovative solutions, sustainability commitments, and focus on user experience. As an increasing number of consumers embrace electric mobility, these companies are leading the transition towards a greener and more efficient two-wheeler industry in India. With their persistent efforts, we can anticipate exciting advancements in the electric bike market, fostering a cleaner and eco-friendly mode of transportation.