The entrance of Electric Two-Wheeler in the Indian market has created lots of buzz and nevertheless India is among the fastest growing market globally. The entrance of electric vehicles into a society was sudden, but now they are prerequisites for the safety of all, whether human beings or our surroundings.
Electric vehicles are noiseless, so they do not bother the people around them. The growing demand for electric vehicles has opened the way for manufacturers to come up with new models of two-wheelers, three-wheelers, and four-wheelers in the competitive market. The electric two-wheelers are eco-friendly and contribute to a sustainable environment. The rocketing prices of fuel have prompted people to switch to electric two-wheelers.
The government’s target is to switch more to electric vehicles by 2030, and to achieve this target, several companies are coming ahead with new developments in electric two-wheelers.
Many popular companies, like Mahindra & Mahindra, Tata Motors, TVS and Hero MotorCorp, are increasing their sales. Startup companies like Ola Electric, Ather Energy, Okinawa Autotech, Ampere Vehicles, and PureEV have also shown higher growth.
If we talk about the sales of electric vehicles, we come to know that the last few months have shown the momentum of the sale of electric two-wheelers. In the year 2022, the sales of registered two-wheelers have been 6,15,365 vehicles.
According to the research, the electric two-wheeler market is expected to grow more in the coming years. The biggest reason for the growing popularity of two-wheelers lies in their affordability and low maintenance costs.
Now we will discuss the Top 10 Electric Two-Wheeler Manufacturers In India
Here is the top Electric Two-Wheeler makers in India:
- Bajaj Auto Ltd
- TVS Motor Ltd
- Okinawa Autotech
- Ola Electric
- Ather Energy
- Hero Electric
- Pure EV
- Ampere Vehicles
- Mahindra Electric
- Benling India
Now we will discuss the above Top 10 Electric Bikes in India in detail:
1. Bajaj Auto Ltd
Bajaj Auto is considered the world’s fourth-largest manufacturer company and the second in India. It is an Indian multinational company and ranks among the top 10 manufacturers in India. The company contributes making the environment clean, so its target is to manufacturing electric two-wheelers. The market capitalization of this company is Rs. 1,05,000 crores. In January 2020 Bajaj Auto rolled out first electric two-wheeler, called the chetak . Chetak is available in two models such as Urbane and Premium. They focus on healthy and clean environment so both CNG and EVs are their priority. The company gained 4% market share in two-wheelers. It is testing a new electric scooter that would be launched soon.
2. TVS Motor Ltd
TVS Motor Ltd. has launched its first two-wheeler, the iQube, in 2020. Its target is to become a global firm, and it will introduce more electric vehicles in the next year. It is a Chennai-based company and shows its strongest presence in the share market. It is ready to set a record by manufacturing more than two lakh electric two-wheelers. Its focus is on the development of electric vehicles with advanced technology. To grow more in this field, TVS Motor has joined hands in partnership with BMW Motor.
TVS Motor launched the TVS-X on August23, 2023 at the event in Dubai on the same date when Chandrayan-3 successfully landed on the moon and became the fourth country after Russia, the US, and China and the first country to land in the South Pole region. With the launch of TVS-X, its target is to strengthen the globalization strategy and international market. TVS is planning to launch more electric two-wheelers. It roughly controls 20% of the electric vehicle market.
The target of TVS is to ramp up the production of electric two-wheelers. If we talk about the market share of two-wheelers, it has increased from 2% in January 2022 to 20% in March 2023.
Both companies, Bajaj Auto and TVS Motor, have high expansion goals and are coming up with advanced technology for electric two-wheelers. TVS and Tata Motor have made a strategic plan to build electric vehicle charging stations across the country.
3. Okinawa Autotech
It is a Haryana-based company that manufactures electric two-wheelers. This firm presently operates 24 dealerships and plans to set up more than 400 dealerships across the country in the coming few years. Its roughly market share is 20 percent. This company reached the second rank in terms of selling two-wheelers.
The main goal of Okinawa Autotech is to make India a major player in electric mobility. It is officially certified by the IATF (International Automotive Task Force) for design and manufacturer. In 2021, Okinawa sold 29,945 units, and it plans to launch at least three electric models every year. It will also come up with e-motorcycles soon.
Okinawa Autotech’s Praise Pro, Ipraise+, Ridge+, Okhi-90, Lite, and R30 are the popular electric two-wheelers. The Okhi-90 is the most expensive, and the R30 is the most affordable electric vehicle among all the models. These electric vehicles are energy efficient, high in performance, and a viable alternative to traditional two-wheelers. Okinawa Lite won the best electric scooter award.
4. Ola Electric
Based in Bengaluru, it is an electric two-wheeler manufacturer company in India. It launched an electric two-wheeler, namely the Ola S1, and it has three variants, such as the Ola Pro, Ola S1 Air, and Ola S1. The Ola S1 is the best and highest-selling electric model. It is prominent for its high performance and range.
Like Okinawa Autotech, it has also planned to launch an electric motorcycle in the coming year. This company focuses on reducing carbon emissions so that mass will shift to electric mobility. It sold 1,08,130 units in 2022, for a leading share of 17.57%.
5. Ather Energy
Ather Energy was founded in 2013, and it is a highly efficient, Bangalore-based two-wheeler company. It holds third place in the top 25 EV OEM (Original Equipment Manufacturer) lists. Its market share is about 11% in electric two-wheelers.
Ather has sold approximately 19,971 units in the financial year 2022. It has launched two models of electric-wheelers, the Ather 450 and the 450 X even, and since then, the company has seen growth in demand. Ather 450 Plus is the advanced version of Arthur 450. It offers 4G connectivity and other advanced features.
6. Hero Electric
Hero Electric is based in Gurugram and it is India’s largest two-wheeler manufacturer company. It is part of the Hero Eco Tech group. Hero Electric is a pioneer in building two-wheelers. Its vehicles are more affordable than those of other companies. It sold 96,906 two-wheelers in 2022, with 15.75% market share in the category.
It launched its first electric vehicle in 2017 that was powered by lithium-ion batteries. It currently has more than 600 dealership networks in the country. In the months of October and November, the company sold 24,000+ electric two-wheelers. It manufactures the two-wheelers in India and sells them through a strong dealer network. With the competition from Ola Electric, TVS, Ather, and Bajaj, it is not easy for Hero Electric to maintain its position. Nevertheless, it has been firmly dealing with the customer.
Hero Electric launched the Vida V1 electric two-wheeler, which is available in two variants: the Vida Vi Pro and the Vida V1 Plus. The Vida V1 has a fully digital touchscreen, turn-by-turn navigation, an emergency alert, and a key fob that is used for keyless access. Besides, it has an anti-theft alarm.
Ather 450X, Bajaj Chetak, and TVS iQube are the competitors of Vida V1. Hero Electric has joined hands with BattWheelz Mobility, a Gurugram-based start-up company whose mission is to save the planet through your ride.
7. Pure EV
Pure EV stands for Power Using Renewable Energy. It manufactures electric scooters and motor cycles and it is based in Telangana. The company prefers to use lithium battery technology. The company built up a dedicated EV manufacturing unit for the development and testing of EV powertrains. It is one of the leading electric two-wheeler brands in India and exports EVs to Nepal and Bhutan. Pure EcoDryft, Etryst 350, Epluto 7G, Etrance Neo, and Epluto 7G Pro are the electric two-wheelers launched by Pure EV. The Epluto 7G is a high-speed scooter with new technology that gives you a comfortable ride.
Pure EcoDryft provides high features, and it is AIS (Automotive Industry Standard) certified. ETRYST 350 displays advanced LED with 85 KMPH speed.
Etrance Neo is highly efficient, comfortable, and provides an anti-theft smart lock. The Epluto 7G Pro has an advanced powertrain and smart battery with Bluetooth connectivity.
8. Ampere Vehicles
Ampere Vehicles is based in Coimbatore in Tamil Nadu, that focuses on manufacturing battery-powered vehicles. Ampere manufacturer company launched Reo, Magnus, Zeal, and V48 electric two-wheelers modals. It has set up its manufacturing plant in Tamil Nadu. Ampere Vehicles has joined hands with Greaves Cotton, an Indian company whose aim is to provide a sustainable and green mobility ecosystem with new technologies.
With new features and advanced technology, the company launched the new variants of Reo, Magnus, Zeal, and V48. Reo Plus and Reo Elite are the lead acid variants and cost Rs. 42,490 and Rs. 42,999, respectively, while V48 Plus costs Rs. 36,190. The use of the latest technology offers cost-effective electric two-wheelers. Zeal Ex has come up with better mileage, and Reo Plus has a new feature like USB mobile charging. Reo Elite improves load-carrying capacity and mileage.
9. Mahindra Electric
Mahindra Electric is based in Bengaluru. The most prominent electric scooter from Mahindra Electric is the Gusto RS. Hero Electric collaborated with the Mahindra Group, and it would be helpful to cater to the demand for growing EVs.
10. Benling India
It is one of the most promising electric vehicle brands in India. Its purpose is to help several people who travel reach their destination without emitting polluting gases. Its headquarter is in Gurugram, and it was founded in 2018. Benling India manufactured four types of electric two-wheelers, namely the Benling India Aura, Falcon, Believe, and Kriti. Benling India Aura is one of the best-selling electric two-wheelers.
Conclusion
India is playing a magnificent role in accelerating towards electric vehicles. The market for electric two-wheelers is still in its development stage. Automobile companies focus on manufacturing more electric vehicles with advanced technologies so that it will provide a chance to investors, as electric vehicles are the future of the automobile company. Some two-wheeler companies plan to announce an electric scooter in the next year.
