Because the world embraces sustainable transportation, India is main the best way within the electrical car revolution. With speedy urbanization and a rising inhabitants, the demand for cleaner and extra environment friendly electrical scooters is at an all-time excessive.
The electrical two-wheeler market has turn into more and more aggressive this yr, with quite a few corporations providing modern fashions that mix fashion, efficiency, and effectivity. The yr 2024 has been noteworthy for electrical automobiles, as each electrical scooters and automobiles skilled a lift in demand and provide, highlighting the enchantment of sustainability, superior options, and cost-effective options.
This text delves into the highest 10 electrical scooter corporations in India, that are instrumental in shaping the way forward for sustainable mobility.
### Overview
The electrical two-wheeler phase in India is steadily rising, having achieved a big milestone with annual gross sales surpassing a million models in 2024. Ola Electrical continued to steer the market this yr, intently adopted by TVS Motor, Bajaj Auto, and different notable corporations. Established manufacturers like Ather, Ampere, and Hero additionally contributed to the dynamic electrical scooter market with their modern fashions.
### High 10 Electrical Scooter Corporations by Market Share
| Firm Title | Complete Automobiles Offered (2023) | Complete Automobiles Offered (2024) | YoY Progress (%) | 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 |
### #1 Ola Electrical
Ola Electrical has maintained its place because the main electrical two-wheeler producer, reaching gross sales of 406,878 models and a market share of 39.78%. Being the primary electrical two-wheeler firm in India to surpass annual gross sales of 400,000 models, Ola Electrical made its entrance into the EV market with the S1 and S1 Professional fashions in August 2021.
### #2 TVS Motors
TVS Motors retained its second spot, with annual gross sales of 219,543 models and a market share of 21.48%. The model is acknowledged for its inexpensive electrical automobiles and entered the EV phase with the TVS iQube Electrical in 2020, gaining a strong foothold since then.
### #3 Bajaj Auto
Bajaj Auto remained in third place in 2024, recording gross sales of 192,577 models and an 18.83% market share. The corporate re-entered the EV market in 2020 with the Bajaj Chetak EV, marking a pivotal shift in its technique.
### #4 Ather Power
Ather Power secured the fourth place with annual gross sales of 125,566 models and a 12.28% market share. It made its debut within the Indian market with the Ather 450X in 2020, changing into a big participant within the phase.
### #5 Hero MotoCorp
Positioned fifth, Hero MotoCorp reported gross sales of 43,660 models and a market share of 4.27% in 2024. The corporate’s introduction of the VIDA V1 in 2022 underlined its dedication to the Indian EV market.
### #6 Greaves Electrical
Greaves Electrical held the sixth place with gross sales of 34,892 models and a 3.41% market share. The corporate’s entry into the EV house was marked by the acquisition of Ampere Automobiles in 2018.
### #7 Bgauss Auto
Bgauss Auto retained its seventh place with gross sales of 17,990 models and a market share of 1.76%. The model entered the market in 2020 as a premium but accessible EV supplier.
### #8 Kinetic Inexperienced Power
Kinetic Inexperienced Power moved as much as the eighth place with 11,426 models offered and a market share of 1.12%. The corporate launched its first electrical scooter, the Kinetic Inexperienced Zing, in 2021, catering to city commuters.
### #9 Wardwizard Improvements
Wardwizard Improvements climbed to ninth place in 2024, with annual gross sales of 10,881 models and a market share of 1.06%. It entered the market in 2016 underneath the Pleasure e-bike model.
### #10 Revolt Intellicorp
Revolt Intellicorp secured the tenth place with a market share of 0.97% and gross sales of 9,911 models. Identified for launching India’s first AI-enabled electrical bike, the RV400, in 2019, the model goals to additional increase its portfolio.
### Conclusion
In abstract, 2024 has confirmed to be an distinctive yr for electrical automobiles, showcasing the highest 10 electrical scooter corporations in India by market share. The fierce competitors within the electrical two-wheeler market is obvious, with Ola Electrical dealing with growing challenges from TVS and Bajaj Auto. Regardless of Ola’s present dominance, its market share seems to be dwindling, suggesting that the competitors will intensify within the coming yr.
Waiting for 2025, gross sales numbers are anticipated to soar, pushed by quite a few new mannequin launches, together with the Activa Electrical and Ola S1 Professional Gen 3. This progress is anticipated to play a big position in furthering electrical mobility in India.
Source link
