The electric two-wheeler market has been even more competitive this year, with several companies offering innovative models that combine style, performance, and efficiency.
The year 2024 has been quite remarkable for electric vehicles. Both electric scooters and cars saw a rise in demand and supply as they offer a combination of sustainability, advanced features, and cost-effective solutions.
In this article, we shall explore the Top 10 Electric Scooter companies in India, that are driving and shaping the future of sustainable mobility.
The electric two-wheeler segment in India continues its upward trajectory witnessing a significant achievement, with annual sales exceeding the milestone of one million in the year 2024.
Ola Electric continued to dominate the market in 2024 as well and maintained market leadership followed closely by TVS Motor, Bajaj Auto, and other companies. Major brands like Ather, Ampere, Hero, etc also influenced the electric scooter market with their new and advanced models this year.
| Company Name | Total Vehicles Sold (2023) | Total Vehicles Sold (2024) | YoY Growth | Market Share (%) |
| OLA ELECTRIC TECHNOLOGIES PVT LTD | 267,376 | 406,878 | 39.78% | 39.78% |
| TVS MOTOR COMPANY LTD | 166,580 | 219,543 | 32.33% | 21.48% |
| BAJAJ AUTO LTD | 71,941 | 192,577 | 168.97% | 18.83% |
| ATHER ENERGY PVT LTD | 104,736 | 125,566 | 20.43% | 12.28% |
| HERO MOTOCORP LTD | 11,141 | 43,660 | 292.11% | 4.27% |
| GREAVES ELECTRIC MOBILITY PVT LTD | 24,042 | 34,892 | 45.84% | 3.41% |
| BGAUSS AUTO PRIVATE LIMITED | – | 17,990 | – | 1.76% |
| KINETIC GREEN ENERGY & POWER SOLUTIONS LTD | – | 11,426 | – | 1.12% |
| WARDWIZARD INNOVATIONS & MOBILITY LIMITED | – | 10,881 | – | 1.06% |
| REVOLT INTELLICORP PVT LTD | 6,977 | 9,911 | 42.63% | 0.97% |
Ola Electric has been the longstanding electric 2W market leader, and it continues to maintain its position at the top this year as well. It recorded a sales figure of 4,06,878 units, holding a significant market share of 39.78%.
Ola becomes the first electric two-wheeler manufacturer in India to ever record annual sales of 400,000 units in a year.
Ola was founded in 2017 and made its foray into the EV segment with the launch of the S1 and S1 Pro electric scooters in August 2021. It quickly established itself as a market leader shortly after its introduction.
The current portfolio of Ola Electric is as follows:
Ola S1 Pro 2nd Gen
At present, Ola Electric holds a considerable portion of the market, all thanks to its dedication and innovation which helped it rocket up to the top. With a diverse range of electric vehicles to meet every customer’s need, it has consistently backed India’s transition to electric mobility.
TVS Motors continues to maintain its second position in the leaderboard, recording an annual sales figure of 2,19,543 units in 2024 with a market share holding of 21.48%.
TVS is a well-known electric vehicle brand and is listed among the top 3 electric scooter manufacturers in India as well. It has always been at the forefront, providing affordable and innovative electric vehicles as part of its sustainability efforts.
TVS Motors made its foray into the EV segment with the launch of the TVS iQube Electric in the year 2020. The company has significantly grown since the launch of the iQube and has managed to solidify its position in the market leaderboard.
The current portfolio of TVS Motors is as follows:
At the moment, TVS has been actively investing and expanding in the Indian electric vehicle market, aiming to offer a diverse range of options to cater to varying consumer needs
Bajaj Auto continues to maintain its third position in the leaderboard in 2024 as well, recording an annual sales of 1,92,577 units, holding an 18.83% market share.
After more than a decade, the iconic Bajaj Chetak made its comeback in 2020 as an electric scooter, signifying a major strategic shift for Bajaj Auto. The brand made its foray into the Indian EV market with the launch of its first EV, the Bajaj Chetak EV in 2020.
The current portfolio of Bajaj Auto is as follows:
Ather Energy maintained the fourth spot in the leaderboard with an annual sales figure of 1,25,566 units and a market share of 12.28% in 2024.
Ather Energy made its debut in the Indian EV market with the Ather 450X in the year 2020, establishing itself as one of the key players in the segment.
The current portfolio of Ather Energy is as follows:
Hero Motocorp, placed in the fifth position, reported annual sales of 43,660 units, with a market share holding of 4.27% in 2024.
Hero MotoCorp officially entered the Indian EV market with the launch of its first electric scooter, the VIDA V1, in 2022. Hero launched the EV under their own brand name VIDA, which was a significant step for the company in the Indian EV segment.
The current portfolio of Hero MotoCorp’s Vida Electric scooters is as follows:
Greaves Electric continues to retain the sixth position in the leaderboard, with a market share holding of 3.41% and an annual sales figure of 34,892 units in 2024.
Greaves Electric made its debut in the Indian EV market in 2018. The acquisition of Ampere Vehicles, an EV manufacturer, marked its entry into the segment. Ampere Vehicles has been producing EVs since 2008, and Greaves used this acquisition smartly to position itself in the EV market.
Its current portfolio comprises the following EV models:
Greaves Electric Mobility has been expanding its electric scooter lineup with upcoming models that meet the different market needs like high performance to last mile solutions as well.
Bgauss Auto continues to maintain the 7th position in the 2024 leaderboard. In terms of sales, it recorded a sales figure of 17,990 units with a market share holding of just 1.76%.
BGauss Auto made its debut in the Indian E2W market for the first time in 2020, positioning itself as a premium yet accessible EV brand.
Its current EV portfolio comprises the following models:
Kinetic Green Energy jumped up a position in the leaderboard, securing the 8th position in 2024. In terms of annual sales, it recorded a figure of 11,457 units and a market share holding of 1.12%.
Kinetic Green Energy entered the Indian electric scooter market in 2021, with the launch of its first electric scooter, the Kinetic Green Zing. This marked a significant step for the brand. The brand launched the Zing EV in two variants: low-speed and high-speed. These scooters were aimed at bringing more convenience for urban commuting as well as first-time EV users.
Kinetic Green expanded its electric scooter portfolio in the country after 2021, with upgraded models such as the Zing High-Speed and EVs specifically designed for women.
Its current portfolio comprises the following models:
Wardwizard Innovations also jumped up a position in the leaderboard, securing the 9th rank in 2024. It recorded an annual sales figure of 10,881 units and holds a market share of 1.06%.
Wardwizard Innovations launched its first electric two-wheeler in 2016, marking its entry into the electric two-wheeler market under the Joy e-bike brand, positioning itself as a key player in the Indian EV mobility segment.
Its EV current portfolio comprises the following :
Revolt Intellicorp did make it to the leaderboard, however, it secured the last position in 2024, with a market share holding of only 0.97% and an annual sales figure of 9,911 units.
Revolt Intellicorp, established in 2017, has been amongst one of the pioneers in India’s EV segment. The company made its foray into the Indian EV market with the launch of India’s first Al-enabled electric motorcycle, the RV400 in 2019. This launch helped Revolt position itself at the forefront of the country’s EV transformation.
Its EV current portfolio comprises the following models:
Revolt Intellicorp is anticipated to expand its EV portfolio further, introducing new and more powerful electric scooters and motorcycles, to meet the various customer demands.
In conclusion, 2024 has been a great year for electric vehicles and this article covers the Top 10 Electric Scooter Companies in India by Market Share of the year.
The electric two-wheeler market witnessed a fierce contest in 2024, with Ola Electric’s market share falling, whilst TVS and Bajaj Auto battling closely behind.
Despite Ola’s dominance, its overall sales figures and market share has been drastically falling in the current year. This indicates increasing competition from competitors like TVS, Bajaj, Ather, etc whose consistently improving sales figures hint at a potentially tighter conflict in the upcoming year.
Based on the sales of EVs in 2024, the numbers in 2025 are expected to be significantly higher. With the number of upcoming launches of models like Activa Electric, Suzuki Electric, Ola S1 Pro Gen 3, etc lined up, the chart of EV sales is expected to skyrocket in the upcoming year and is anticipated to contribute significantly to the growth of electric mobility in 2025 in India.
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