Top 10 Electric Scooter Companies in India 2023 – Sales, Market Share, and Future Prospects

In the exciting world of electric mobility, the story of Ola Electric began in 2017 when its visionary founder, Bhavish Aggarwal, set the wheels in motion. Fast forward to today, and Ola Electric proudly holds the title of India’s top electric two-wheeler maker, with an impressive value of US$5.4 billion. The pinnacle of this journey arrived in 2021 with the launch of the highly praised S1, followed by a fantastic lineup including the Ola S1 Pro 2nd Gen, Ola S1 Air, Ola S1X (2kWh), Ola S1X (3kWh), and Ola S1X+. Additionally, Ola is making strides in artificial intelligence with its innovative tool called Krutrim. This application is India’s pioneering AI creation, designed to assist users with diverse language needs and problem-solving requirements.  

 Ola scooters are renowned for boasting the best range, top speed, and features in the electric scooter market. While the company does grapple with some post-purchase service challenges, Ola has consistently maintained its position as one of the leading electric scooter companies in India. In 2023, Ola Electric triumphantly secured its leading position in the industry, boasting an impressive annual sales figure of 265,995 units, reaffirming its dominance in the market.

#2] TVS MOTOR 

TVS Motors, a renowned Indian multinational in the motor industry, excels in crafting two-wheelers and three-wheelers. Their diverse range includes bikes, scooters, and trikes, catering to customer preferences from basic to high-end. With an extensive network of over 5,000 dealerships and service points, TVS Motors ensures widespread availability and support both nationally and globally. TVS Motors introduced its initial electric scooter, the TVS iQube, in January 2020, and later unveiled the TVS X in August 2023. It is certainly one of the best electric scooter companies in India. TVS Motor Company Limited clinched the second spot in the competitive landscape of 2023, demonstrating robust performance with an annual sales figure of 166,287 units, asserting their strong standing in the market.

#3] ATHER ENERGY

Ather Energy Pvt. Ltd., an Indian startup, is committed to delivering eco-friendly transportation solutions in a market largely filled with petrol and diesel vehicles. Their electric scooters offer outstanding performance and elevate the overall riding experience. Ather Energy also gives considerable importance to building a dependable charging infrastructure to meet India’s rising demand for electric vehicles.  The company’s scooters include the Ather 450S, Ather 450X, and Ather 450X Pro. The electric scooters from Ather Energy boast impressive features and specifications, making them a compelling choice for urban commuters and long-distance enthusiasts alike. Ather Energy is also in the works to launch a new electric scooter called Ather 450 Apex and a family scooter next year. Ather Energy secured the third position in 2023, achieving noteworthy success with an annual sales figure of 104,336 units, establishing itself as a formidable player in the market.

#4] BAJAJ AUTO 

Bajaj Auto Limited stands as a distinguished company renowned for its exceptional expertise in crafting, producing, and globally distributing a diverse range of two-wheeled vehicles. With a footprint extending across more than 75 countries, Bajaj Auto has firmly positioned itself as a leading manufacturer on the global automotive scene. In a strategic move attuned to the evolving trends in the Indian market, Bajaj Auto has ventured into the burgeoning electric vehicle sector, exemplified by the introduction of the 2023 Bajaj Chetak Premium, and Bajaj Chetak Urbane, effectively aligning itself with the evolving electric market in India. Bajaj Auto clinched the fourth position in 2023, posting a commendable sales figure of 76,627 units, solidifying its presence as a key player in the market.

Bajaj Auto Limited has recently initiated the process of trademarking the name ‘Vector‘ in India. This move has ignited speculation within the automotive industry, leading to anticipation that the company might be gearing up to introduce a new electric scooter under its esteemed Chetak brand of electric vehicles. 

#5] AMPERE EV BY GREAVES 

With foresight and passion aimed at revolutionizing everyday mobility, Ampere embarked on its journey in 2008. The company realized a vision for a sustainable future and set in motion a series of events that would ultimately make Eco-Friendly Mobility accessible to everyone. Utilizing optimal research and cutting-edge technology, Ampere is playing a pivotal role in driving India towards Har Gully Electric with its range of electric vehicles. The company remains dedicated to advancing the cause of eco-friendly transportation and contributing to a more sustainable and accessible mobility landscape. The company offers various electric models such as Primus, Zeal EX, and Magnus EX. According to some sources, Zeal EX stands as a popular choice delivering impressive performance. The company announced its foray into the international market in December, launching its first-ever electric scooter showroom in Nepal. Ampere Vehicles Private Limited secured the fifth position in 2023, attaining a notable achievement with an annual sales figure of 67,041 units, further solidifying their standing in the market.

#6]  OKINAWA AUTO

Since its establishment in 2015, Okinawa has swiftly gained popularity among young riders in their quest for electric two-wheelers. The company has positioned itself as a notable player in the electric vehicle market, capturing the attention and preferences of a growing demographic of riders seeking sustainable and innovative mobility solutions. With its headquarters in Gurugram, this brand has secured its position among India’s top 10  two-wheeler brands as of 2023,  owing to its dynamic design and impressive performance. Okinawa offers a diverse range of nine models: the OKHI-90, IPraise+, Praisepro, Ridge 100, Ridge+, Ridge+(GPS), Dual 100, R30, and Lite. In the sixth position for 2023, OKINAWA Autotech Private Limited reported a sales figure of 31,613 units, reflecting their performance within the competitive landscape. 

#7] HERO ELECTRIC

HERO ELECTRIC, a prominent market leader in the Indian Electric Two-Wheeler industry, has been at the forefront of Electric Mobility for over a decade. Dedicated to providing eco-friendly 2-wheeler solutions with excellent value, the brand’s mission revolves around “No Emission” for a ‘Zero Pollution’ transportation future. Ensuring top-notch quality, every product undergoes meticulous testing through 46 stringent checks by dedicated quality engineers before reaching customers. As a socially responsible and environmentally conscious entity, Hero Electric proudly holds the SA 8000 certification, reflecting its commitment to ethical business practices and a sustainable future. Hero Electric offers a range of electric scooters which deliver impressive performance and quality. The electric scooters by Hero Electric are Optima CX 2,0, Optima CX 5.0, Hero Electric Photon LP, Hero Electric Atria LX, and Hero Electric Flash LX. Hero Electric Vehicles Private Limited claimed the seventh position in 2023, reporting sales of 29,800 units, and maintaining a steady presence in the market.