Leading Electric Two-Wheeler Companies in India by Market Share

Here is a list of the top major players by market share in the electric two-wheeler market in India. These top players dominate the entire Indian electric two-wheeler market by covering a large market share.

The list of top electric two-wheeler companies includes Hero Electric (36%), Okinawa (17%), Ampere (14%), Ather ( 11%), etc.

Top Electric Two-Wheeler Companies by Their Market Share

Hero Electric

Hero Electric is the largest player in the E2W market in India, accounting for over 40% of HS Electric’s two-wheeler sales in FY21. Hero Electric launched its first lithium-ion battery-based scooter in 2017. Presently, the company has 600+ dealership networks across the country, which are present in more than 325 cities.

IMG Source-JMK Research

In FY2021, the company sold around 14,778 units, while in FY2020, it sold around 7,399 units of the high-end E2W. Hero Electric tied up with EV logistics start-up eBikeGO in December 2020 to deliver over 1,000 units for last-mile delivery.

Hero Electric Two-Wheeler in India 

The company offers around 10 different e2W models with a price range of Rs 46,640 to Rs 83,940. The company has divided its portfolio into two segments based on the top speed of scooters: City Speed (HX), which represents the HS segment, and has 4 models, and Comfort Speed (LX), which represents the LS segment. There are 7 models.

Read Also:  Hero’s Complete Range of E-Bikes

Okinawa Electric Scooter

In the last two years, FY2019 and FY2020, the company was able to achieve sales of >10,000 units for the high-end model, however, Okinawa sold only 6,975 E2W in FY2021.

Okinawa plans to invest Rs 70 crore to manufacture motors and controls for its Electric scooters at its upcoming 5 lakh unit per annum plant in Alwar, Rajasthan, which is scheduled for commissioning by early June 2021.

Okinawa Electric Scooters in India  

Ampere Vehicles

In FY2021, the company recorded sales of 5,903 units for its high range models, which is more than double the sales of Ampere in FY2020.

Lower-range vehicles with a top speed of less than 25 kmph contribute to the majority of Ampere sales. In February 2021, Ampere signed a Memorandum of Understanding with the Government of Tamil Nadu.

Ampere Electric Scooters in India

In its electric two-wheeler model, the company has a product portfolio of 7 models of low-range vehicles (top speed of 25 kmph) and only 1 model of high range (top speed of 55 kmph).

Ather Energy

In FY2021, Ather sold over 4,400 electric two-wheelers, while in the previous financial year, 2,900 units were sold. The market is picking up for Ather.

And, Hero Motor Corp has a stake of 34.6 percent in Ather Energy, and it is the largest shareholder in Ather.

Ather recorded its highest monthly sales in March 2021, and this was the first time they recorded a 4-digit sales figure.

Apart from these E2W models, Ather is also building its network of charging stations under its program “Ather Grid”. Charging stations have already been placed in Bengaluru, Chennai, Pune, Ahmedabad, Mumbai, and Hyderabad. These charging stations provide fast DC charging up to 80% at 1.5 km/ min.

Ather Electric Scooter’s in India 

The Company has two models in its product portfolio. Both are high-end models above INR 1 lakh price range. Customers are given a home charger with a 3-year warranty on the battery and vehicle at this price.

Revolt Motors

Revolt follows an innovative business model called MAAS – Motorcycle-as-a-Service, which is the first of its kind in India. Under the MAAS plan, customers need to pay a specific monthly fee, which is INR 2,999 for RV300 and INR 3,499 or INR 3,999 for RV400 (as it offers two monthly plans).

No additional charges apply. Customers only need to pay their monthly rates as per the subscribed plan, also known as the MRP-My Revolt plan, for 3 years. After this period, the customer will have complete ownership of his vehicle.

Two months after its launch, Revolt started receiving subscriptions for two of its models and within the last half of FY20, the start-up registered a total of 1,062 new subscriptions. In FY2021, it had registered total sales of over 1,700 units. In April 2021, RatanIndia invested US$20.6 million, acquiring a 50% stake in Rebellion.

Revolt Electric Scooters in India

Bajaj Chetak

Bajaj Chetak is an electric scooter available at a starting price of Rs. 1,37,096 in India. It is available in 2 variants and 6 colors with a top variant price starting from Rs. 1,39,696. Bajaj electric has sold 111 Electric scooters in Feb of 2021. and it has the 4 % of marker share electric two-wheeler Market in India.

Read More- Bajaj Chetak Electric Scooter: Price, Top Speed, Range

Bajaj Electric Scooters in India 

Benling Electric 

Benling scooters price starts from Rs. 56,940. Benling offers a total of 4 scooters out of which Benling Icon is the most expensive one with a price tag of Rs 74,160.

The most popular names in the line-up include Falcon, Aura, Kriti, and Icon. Benling Electric has sold 254 electric two-wheelers in India as of February 2021 and has covered over 3% share of the electric two-wheeler market in India.

Benling Electric Scooters in India 

TVS Electric 

TVS iQube is an electric scooter priced at Rs. 1,29,893 in India. TVS Electric offers 1 variant and 1 color. TVS iQube generates 3000 W power from its motor. TVS has sold 208 electric two-wheelers by February 2021 till date and it has more than 2% of the market share of electric two-wheelers in India.

TVS is may launch its new TVs Creon soon in India and it could be launched in India by 2022 with a driving range of 80 km.

TVS Electric Scooters in India 

Last but not least Pure EV – Pure EV has sold 404 electric scooters as of Feb 2021 and has become India’s leading electric scooter seller by covering 6% market share of Electric Two-Wheeler India.

Pure EV

PureEV made its first commercial launch of the EV in April 2019 with 4 electric two-wheeler models. These models make up its LS E2W range. It introduced its first HS electric two-wheeler, the EPluto 7G, in February 2020.

Currently, the Pure EV has two HS scooters in the market, the ETrance Neo and the EPluto 7G. Though a new entrant in the market, the startup has managed to capture a 5%-share of the HS Electric two-wheeler market share in Finical year of 21.

Pure EV Electric Scooters in India 

Pure EV offers 6 products, of which one is an e-cycle, Etron. The five e-scooters launched by the startup are ETrance, ETrance+, ETranceNeo, EPluto, and EPluto 7G.

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