As electric vehicles continue to shape the future of transportation, electric bikes are quickly becoming a popular choice in India. With rising fuel costs and growing environmental concerns, many people seek cleaner, more cost-effective alternatives.
In 2024, the electric bike market is more competitive than ever, with several companies offering innovative models that combine style, performance, and efficiency.
Here’s a look at the top 10 electric bike and motorcycle companies in India, leading the charge towards a greener future.
| Sr No. | Company | Number of Models |
|---|
| 1 | Revolt Motors | 4 |
| 2 | Ultraviolette Automotive | 2 |
| 3 | Komaki Electric | 2 |
| 4 | Joy E-Bikes | 2 |
| 5 | Tork Motors | 1 |
| 6 | Oben Electric | 1 |
| 7 | Matter Motors | 1 |
| 8 | Hop Electric | 1 |
| 9 | Orxa Energies | 1 |
| 10 | ABZO Motors | 1 |
A few years ago, RattanIndia Enterprises acquired Revolt Motors for ₹150 crore. As per the latest filings, Revolt Motors is valued at $39.4 million.
Here is the list of Electric bikes that the company currently offers:
From January to September 2024, Revolt Motors sold 5,544 electric bikes, securing the ninth spot in the list of top Electric Two-Wheeler Manufacturers in September 2024 and CY2024. This achievement reflects the company’s growing presence and influence in the electric mobility sector.
The company aims to create advanced electric vehicles that combine modern design with energy-efficient technology.
Ultraviolette is working on developing India’s first ecosystem of high-performance electric vehicles and energy infrastructure, shaping the future of electric mobility in the country.
According to some sources, the company is valued at approximately $300 million. The company is currently backed by TVS Motors
The company actively manufactures high-performance electric Bikes. Here is the list of Electric bikes by Ultraviolette:
With the philosophy of “Designed in India, Designed for the World,” Ultraviolette recently unveiled its latest innovation – the F99 Factory Racing Platform, India’s first electric superbike. Entirely conceptualized and developed at their R&D center in Bengaluru, the F99 represents a major milestone for the Indian two-wheeler industry. The superbike boasts a top speed of 265 km/h, 120 horsepower, and can accelerate from 0 to 100 km/h in just 3 seconds.
Komaki’s infrastructure is located in Thrissur, Kerala, and Kapashera, Delhi, with offices and warehouses in the Delhi NCR region.
The company offers two Cruiser electric bikes which are as follows:
the company also launched Komaki CAT 3.0 NXT Electric Fleet, Starting from Rs. 1,20,000.
Joy e-bikes are equipped with long-lasting batteries, reducing the need for frequent replacements, which helps lower your carbon footprint. Their product range includes high-speed electric scooters, low-speed electric scooters, eco-model scooters, and high-performance e-bikes.
The company saw a significant 4.69X growth in revenue, reaching ₹184.56 crore in FY22, up from ₹39.31 crore in FY21, as per filings with the Registrar of Companies.
The company has two High- performance electric bikes which are named as follows:
Wardwizard Innovations and Mobility is planning to form a joint venture (JV) in Saudi Arabia. The JV will focus on setting up an assembly and EV cell plant, initially producing electric two-, three—, and four-wheelers, with plans to expand into electric bus production in the future.
In 2022, the company launched the Kratos R, India’s first electric motorcycle, which is proudly manufactured in India. Currently, the Kratos R remains the only electric bike offered by Tork Motors. The company, valued at $44.6M, was founded in 2010 by Kapil Shelke and is supported by major investors such as the Bharat Forge group and Ratan Tata, who invested in the startup in 2019.
Tork Motors plans to expand its lineup with three new electric bikes, including the highly anticipated Kratos X, set to launch between 2024-2025.
Holding 18+ patents, the company is reshaping India’s electric two-wheeler market and aims to become the world’s largest electric motorcycle OEM.
Last year, the company raised Rs 40 crore ($4.9 million) in equity and debt in an extended pre-series A round, bringing the total round to Rs 72 crore ($8.9 million). The company has raised a total of Rs 88 crore since inception.
The company currently has only one Electric bike – the Oben Rorr available in 2 different colors -Electric Red, and Voltaic Yellow.
Oben Electric recently opened its eighth showroom in Pune. On World EV Day, the company announced plans to launch four new electric two-wheelers soon, targeting a diverse range of Indian consumers. These new models are expected to be priced between Rs 60,000 and Rs 1,50,000.
Recognizing the importance of batteries in the EV ecosystem, they launched Matter Energy as a dedicated energy storage division. In March 2023, the Matter Aera 5000 electric motorcycle was launched in India, marking the company’s first electric bike. Currently, this is the only Electric bike offered by Matter Energy. The company is based in Ahmedabad, India.
According to some sources, the electric mobility startup has a post-allotment valuation of around $204 million.
Deliveries of the Matter Aera Electric Bike have finally begun. The brand has set itself a target of delivering 50,000 vehicles by March 2025. The company also plans to launch more variants of the Aera 5000 in 2025.
Hop Electric boasts a strong in-house R&D and manufacturing team of 100+ members with state-of-the-art labs and a design studio at the Hop Launchpad in Jaipur. The company’s ‘Hop Megaplex’ facility has a capacity of 1.2 lakh units annually. With 150+ experience centers across 15+ states, Hop Electric is a key player under the government’s ₹26,058 Cr PLI Scheme. They also hold a captive NBFC license for financing electric two-wheelers and raised $2.6 million in seed capital from a publicly listed power electronics manufacturer in May 2022.
The HOP OXO: High-Speed Electric Bike is the only bike model offered by the company currently. The rest are high-speed and medium-speed electric scooters.
Hop Electric is developing a new electric bike platform called “Nimbus” to compete with conventional engine motorcycles. The bike will be similar to the Hero Splendor and Bajaj Platina
Orxa plans to establish 100 charging stations on major highways and has partnered with Spare It, Bolt, and Nunam to enhance the EV ecosystem. Nunam’s battery buyback service offers Orxa customers a 40% cost advantage, supporting sustainable energy use.
The company is also planning to produce nearly 20,000 units of the Mantis after its launch in India. Orxa Energies plans to set up around 100 DC charging stations on major highways in the next year.
The company is set to expand its lineup with innovative new models. With a 17,069 sqm manufacturing plant, ABZO Motors is well-prepared to scale its operations and meet the rising demand for electric vehicles, promoting sustainable mobility.
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