India currently has a mere 0.5% of global share in the EV Industry. Considering EV manufacturers in India, there are big players already going through this transition, and giving them a tough competition are many startups working tirelessly in this field.
We have distributed the list in to two categories i.e., of EV manufacturers in India:
A. Three and Four Wheelers
Following are the Top 7 EV Manufacturing Companies in India (Three & Four Wheelers):
- Tata Motors: Offers a wide range of electric vehicles and contributing to the electric vehicle industry in India with Nexon EV, Tata Tigor Electric Car, Ultra Electric Bus, Starbus Hybrid Electric Buses for cleaner and greener public transportation.
- Mahindra Electric: Mahindra acquired Reva electric company in 2010 and today, the company has launched Mahindra e2o,electric hatchback e2oPlus, eVerito sedan, commercial electric eSupro and upcoming electric version of the eKUV100.
- Hyundai Kona: Hyundai is not only offering power packed driving experience of KONA Electric SUV but also planning to install EV charging facilities in India by Partnering with IOCL at Fuel Stations.
- Hero Electric: Hero Electric is the biggest manufacturer of electric scooters in India with a vision of providing electric mobility to nation. They offer wide range of electric vehicle such as Photon, flash la, optima and hero electric nyx.
- Kia Motors: Kia Motors are into manufacturing Hybrid Plug-in vehicles, Electric Vehicles, Eco-Friendly Monitor, Hydrogen Fuel Cell cars and much more. It produces Massive Lithium Ion Polymer Battery, High-Efficiency EV Motor, Built-in Slow Charging System for Domestic Use.
- Ashok Leyland Electric: It is one of the largest bus manufacturer in the world and market leader of trucks in India. The company has already launched fully electric bus called Circuit in India, advanced non-plugin version of HYBUS, Electric Euro 6 Truck and announced iBUS.
- Ola: Ola has launched multimodal electric vehicle project in Nagpur under the Mission Electric and also running electric public transport vehicles in India. Ola also plans for launching 10,000 e rickshaws in India as well as invest in setting up charging stations across major cities around India.
If we break the Indian market of Electric Vehicles for FY 2019-20, India sold around 1.29 Lakh EVs, of which 1.26 Lakhs were two-wheelers. This shows the control and coverage Electric bikes have in the Indian market over 4 wheeler and hence creating opportunity for small players (startups) in the sector.
Following is the list of promising startups working in the manufacturing of EVs in India.
- Ather Energy: They have the capacity of manufacturing around 30,000 units per year and are planning to increase it to 1 Lakh in coming 2-3 years.
- Tork Motors: Their current manufacturing capacity is 1,000 units per year, and are planning to increase it to around 20,000 – 30,000 in coming 2-3 years.
- Menza Motors: Menza motors is an electric automobile company based in Ahmadabad. They launched their first electric motorcycle, the Lucat in 2018.
- Verge Motors: Verge Motors manufactures an Electric Scooter that not only runs on electricity but also has an alternate option of petrol. The switching between petrol and electricity can be done just with a flick of the switch. It provides you a 100 km ride in just 1 liter of fuel with a top speed of 100 km/h.
- Emflux: It is one of the fast-growing Automobile start-up company in India. It launched India’s first electric superbike Emflux that comes with a price tag of 11 Lakhs*.
- Okinawa: Okinawa Autotech is a popular Indian electric two wheeler manufacturing company with an aim of contributing absolutely zero emission to the green society and new technologies in Indian automobile industry. Okinawa Ridge and Okinawa Praise are two scooters designed with best in class technology. Their price starts from Rs. 39,990 for basic variant and can ho upto Rs. 1.17 lakh for top variants.
- Twenty-Two Motors: Flow electric Scooter is the first EV from 22 motors. The Ex–showroom price of Flow electric is Rs.65,000 and it’s a unique bike in the style aspect.
- Lush Motors: Lush Motors is an award-winning Hyderabad startup company established in 2013. Lush L1 is India’s first Electric Smart Urban Mobility Vehicle (SUMV). The company spent 5 years on R&D and launched fully Indian developed lithium-ion battery vehicle.
Although there are many startups and big companies in the EV manufacturing sector, we have tried to capture as many as we can and will keep expanding the list as and when new ones come up.