Over the years, there has been a notable increase in the sales of motorcycles and scooters in the market. This surge can be attributed to factors like the affordability and convenience associated with this mode of transportation. Additionally, the introduction of electric two-wheelers has brought about an eco-friendly transformation, making them a more sustainable option for the environment. In this article, we will examine the dominant electric two-wheeler companies in India based on their market share.
- OLA Electric
Based in Bangalore, Ola Electric Mobility is a leading Indian electric two-wheeler manufacturer. It became an independent entity in 2019 and began delivering electric scooters in December 2021. Currently preparing for a public listing, the company recently increased its authorized share capital by a remarkable 17.121%. The Ola S1 model, inspired by the Etergo AppScooter design, gained significant recognition as a notable electric two-wheeler launch in India in 2021. Remarkably, Ola Electric Mobility achieved impressive sales of 108,130 units in 2022, capturing a substantial market share of 17.57% .
- Okinawa Autotech
Established in 2015, this company holds a longstanding presence in the electric two-wheeler industry. With an impressive sales figure of 101,366 units in the calendar year 2022, it secured the second position, claiming a market share of 16.47%. The company’s plans involve introducing three new electric scooter models annually and expanding into e-motorcycle manufacturing. Okinawa has successfully launched several electric two-wheeler models catering to various price ranges. Notably, their intelligent scooters are accompanied by a proprietary smartphone app, enhancing the overall customer experience
- Hero Electric
Hero Electric, a well-known electric motorcycle maker in India, occupies a significant position in the sector. With a diverse lineup consisting of popular models like Optima, Flash, and Photon, Hero Electric offers a broad range of electric bikes to cater to various customer preferences. The Optima, among the options available, emerges as a favored selection due to its notable features. It offers an impressive single-charge range of up to 50 km and achieves a top speed of 25 km/h, making it a standout choice for customers.
- Ather Energy
Amidst a market predominantly controlled by petrol and diesel vehicles, Ather Energy Pvt. Ltd., an Indian startup, is unwavering in its commitment to delivering eco-friendly transportation solutions. Their primary focus is on delivering a flagship electric scooter that not only delivers exceptional performance but also elevates the overall riding experience. Additionally, Ather Energy places substantial importance on developing a robust charging infrastructure to meet the growing demand for electric vehicles in India.
- Ampere Vehicles
Ampere Electric, a Chennai-based e-bike manufacturer, offers a diverse lineup of models, including the Zeal, Reo, and Magnus. Among these options, the Zeal has emerged as a favored choice due to its impressive capabilities, including a remarkable range of up to 75 km on a single charge and a top speed of 25 km/h.
TVS Motor Company Ltd is a prominent player in the two-wheeler industry, ranking third in India and among the top ten globally. It has a notable market presence in emerging regions like Latin America, South Asia, the Middle East and Africa. With TVS Electric Mobility as its dedicated electric vehicle division, consisting of over 600 engineers, the company is actively driving the advancement of EV technology. To further strengthen its position in the electric vehicle sector, TVS Motor Company has entered into a strategic partnership with BMW Motorrad to jointly manufacture electric vehicles.
Pure EV, a startup specializing in electric scooters, has swiftly established itself as a prominent force in the Indian market. Their range of eco-friendly and inventive products has garnered acclaim for their exceptional quality and performance. By prioritizing the accessibility of its offerings to a wide range of customers, Pure EV is making a notable impact in the electric vehicle industry.
- Bounce Infinity E1
The scooters produced by this company boast a distinctly retro design, characterized by a torch-shaped headlight and dashboard module that contribute to their individual charm. These scooters provide riders with affordable options, with prices spanning approximately from Rs. 45,099 to Rs. 70,499. Equipped with a 1.9 kWh battery capacity, they require approximately 4 to 5 hours to reach a full charge, ensuring convenient usability.
- Bajaj Auto
Bajaj holds the distinction of being the world’s third-largest motorcycle manufacturer and the second-largest in India. The company has reaffirmed its commitment to promoting a cleaner environment, highlighting its focus on both electric vehicles (EVs) and compressed natural gas (CNG) as cleaner fuel options. As a publicly listed company, Bajaj boasts a market capitalization of Rs 1,05,000 Crores. In January 2020, the company introduced its inaugural e-scooter, the Chetak, featuring two variants: Urbane and Premium. Since its launch, the electric vehicle has enabled Bajaj to secure a 4.02% market share in the electric two-wheeler sector.
- Simple One
Featuring a modern design, this electric scooter manufacturer offers an outstanding range in its segment, extending up to 300 kilometers. The scooter is enhanced with a smart touchscreen-enabled dashboard, remote access, geo-fencing, and an array of other advanced features. Moreover, it is available in a captivating selection of colors to cater to diverse preferences.
The electric bike market in India is undergoing a remarkable shift, propelled by the leading electric bike manufacturers in the country. Through their inventive solutions, commitment to sustainability, and emphasis on user experience, these manufacturers are playing a pivotal role in shaping the future of transportation. As a growing number of consumers embrace electric mobility, these companies are driving the transition towards a greener and more efficient two-wheeler industry in India. With their persistent efforts, we can anticipate further exciting advancements in the electric bike market, fostering a cleaner and eco-friendly mode of transportation.