Bajaj Auto has solidified its standing as the third-largest e-two-wheeler OEM, following Ola and TVS, with 17,642 Chetaks sold in July. This performance marks a 95% month-on-month growth and secures a 16% market share.
The company continues to witness strong demand for its two Chetak variants – Urbane (Rs 123,319) and Premium (Rs 147,243) – due to increased production capacity and an expanding dealer network. Currently present in 164 cities with 200 touchpoints, Bajaj Auto plans to expand to around 600 showrooms within the next three to four months.
Additionally, the company is set to introduce a new mass-market e-scooter under the Chetak brand, aiming to further boost its market presence.
4] ATHER ENERGY
Ather Energy ranks fourth, with sales increasing from 6,192 units in June to 10,080 units in July, achieving a 63% month-on-month growth and a 9% market share.
In April, Ather launched the Rizta, priced from Rs 109,999 (Rizta S) to Rs 149,999 (Rizta Z), and began deliveries on July 4. The Rizta S has a 2.9 kWh battery with a 123 km range, while the Z variant features a 3.7 kWh battery with a 160 km range.
Notable features include the largest two-wheeler seat in India and ample storage space.
In June, Ather announced a new plant in Aurangabad Industrial City (AURIC), Maharashtra, with an investment of over Rs 2,000 crore to produce up to a million EVs and battery packs annually.
5] HERO MOTORCORP
Hero MotoCorp secures the fifth position, with sales rising from 3,074 units in June to 5,044 units in July, reflecting a 64% month-on-month growth and capturing a 5% market share.
In June, Hero MotoCorp, an early investor in Ather Energy and a key player in Ather’s growth since 2016, increased its stake by 2.2%, banking on the growing demand for Ather products.
6] GREAVES ELECTRIC
Greaves Electric holds the sixth position, with sales increasing from 2,715 units in June to 3,154 units in July, reflecting a 16% month-on-month growth and a 3% market share.
Targeted at families, the newly launched Ampere Nexus electric scooter by Greaves Electric has been designed and developed in-house at the Ranipet facility in Tamil Nadu.
Equipped with a 3 kWh LFP battery, the Nexus boasts a top speed of 93 kph and a certified range of 136 km. Sold in two variants, prices start at Rs 110,000 (ex-showroom) and go up to Rs 120,000.
7] BGUASS AUTO
Bgauss Auto ranks seventh, with sales increasing from 1,062 units in June to 1,792 units in July, reflecting a 68% month-on-month growth and capturing a 2% market share.
Recently, the manufacturer launched its latest EV, the BGauss RUV 350, available in three variants: RUV 350i, RUV 350 EX, and RUV 350 Max. Prices start at Rs 1.10 lakh for the base model and go up to Rs 1.35 lakh for the top-spec variant.
8] REVOLT INTELLICORP
Revolt Intellicorp is in the eighth position, with sales rising from 660 units in June to 868 units in July, marking a 31% month-on-month growth and a 0.98% market share. Revolt Motors has recently received official approval from the Ministry of Heavy Industries, making it eligible for the Central Government’s EV subsidy schemes. This approval qualifies the company for the current Electric Mobility Promotion Scheme (EMPS) 2024 as well as the forthcoming FAME III subsidy scheme, expected to follow EMPS.
9] WARDWIZARD INNOVATIONS
WardWizard is in the ninth position, with sales decreasing from 897 units in June to 852 units in July, reflecting a – 5% month-on-month decline and capturing a 0.96% market share.
The company recently secured a $1.29 billion order from Beulah International Development Corporation, a firm based in the Philippines.
Under this Memorandum of Understanding (MoU), WardWizard will supply its existing electric two-wheeler and three-wheeler models to the Philippines and develop new four-wheeler commercial vehicles tailored for the Philippine market. With a current production capacity of 4-6 lakh two-wheelers and 40,000-50,000 three-wheelers annually, fulfilling this order, valued at Rs 10,800 crore, is expected to take three years.
10] KINETIC ENERGY
Kinetic Energy ranks tenth, with sales increasing from 458 units in June to 687 units in July, reflecting a 50% month-on-month growth and capturing a 0.77% market share.
Two months after the launch of the Kinetic Green E-Luna, Kinetic Green Energy is expanding its electric scooter lineup, as shown by recent spy shots of a new model currently in testing.
This upcoming scooter features a robust suspension system with a telescopic fork at the front and twin shock absorbers at the rear. It prioritizes stopping power efficiency with its front disc brake and rear drum brake system. The design also includes a single-piece grab rail, a hub motor, and a curved seat designed to comfortably accommodate two persons.
