The top 10 companies in the EVs industry include TATA Motors, Mahindra & Mahindra, Maruti Suzuki (which are household names in the country), as well as some new companies like Ather Energy, Okinawa, Ola Electric, Kia Motors, etc. More brands such as Hero Motocorp, Ashok Layland, Ampere Vehicles, etc. are joined in this competition.
The government of India has set an ambitious target of 40% of new cars being electric by 2030. So, a huge investment is required in the EV industry.
The aim is to make EVs more reliable, affordable and alternatives to petrol or diesel-powered engines. This is an excellent opportunity for companies that are keen to tap the growing demand for EVs but aren’t able to do so as they lack the necessary capacity and expertise.
India’s market size is among the largest in the world, but it was also one of the last markets to start rolling out EVs. For this reason, international players have a limited presence in India’s EV market currently because they are unable to compete with domestic manufacturers (in terms of price and quality).
Let’s take a look at some top electric vehicle companies excelling across a four-wheeler and two-wheeler segments in India right now.
Top 10 Electric Vehicle Companies:
TATA Motors is the first Indian carmaker to launch electric cars in India. These EVs are not just a means of transportation but also an efficient and reliable solution to tackle the growing problem of pollution.
The company dived into the segment way before the competition and is currently enjoying an advantage as a first-mover in India.
The company introduced two electric variants –
- Tata Tigor EV-the first electric vehicle by TATA Motors for personal buyers in 2019 and it is the most selling electric car in India.
- Tata Nexon EV- the safest electric compact SUV in India.
With these vehicles, Tata Motors is emphasizing its aim to develop environment-friendly mobility solutions for India, with a focus on green energy, affordable products, and innovative technology.
Hero Electric is India’s first and largest manufacturer of electric 2-wheelers with hundreds of thousands of happy customers and growing.
It is a pioneer and market leader in the Indian Electric Two-Wheeler industry. The company has been the front runner for Electric Mobility in India for over a decade and believes in offering an ecological 2-wheeler solution to our consumers, which above all else, gives our customers excellent value for money.
Hero Electric’s endeavor to make the country greener with ‘Zero Pollution’ transportation through its wide range of Electric Vehicles, is supported by our Mission of “No Emission”. Every product manufactured by us is closely inspected, rigorously tested by quality engineers, and put through 46 stringent quality checks before it reaches our customers.
It aims to manufacture over 1 million electric vehicles by 2025 whilst expanding its charging stations and manufacturing plants. Currently, it has over 2000 charging stations across the country with more than 20000 in the pipeline to make it easier for its customers.
The company has a lot of variety of models like:
- Hero Eddy-Comfort speed variant with a max speed of 25km/hr.
- Hero Electric Photon Hx-City speed variant with a speed of more than 45km/hr.
- Hero Electric Optima CX(Dual Battery)-City speed variant with a speed of more than 45km/hr.
- Hero Electric Optima LX-Comfort speed variant with a max speed of 25km/hr.
- Hero Electric NYX HX (Dual Battery)-City speed variant with a speed of more than 45km/hr.
- Hero Electric Flash LX (VRLA)-Comfort speed variant with a max speed of 25km/hr.
- Hero Electric Atria LX-Comfort speed variant with a max speed of 25km/hr.
Mahindra Electric Mobility is the pioneer of electric vehicle technology in the country. Our mission is to bring tomorrow’s movement, today. We have a wide variety of electric vehicles and will be increasing this range even further, under the brand – Mahindra Electric. Our products span personal and commercial segments and are designed to support the new paradigm of shared, electric and connected mobility.
To promote the growth of Electric Vehicles (EV) in the country, Mahindra & Mahindra (a part of the $19 billion Mahindra Group) sought the opportunity to combine their years of car manufacturing expertise with the country’s leading EV manufacturer- Reva Electric Car Company (founded in 1994) and renamed it to Mahindra Reva Electric Vehicles.
As the portfolio grew, so did the mission. The company branched out to produce a wide variety of EVs, fuel the expansion of power and drive train technology and provide mobility solutions to enable connected shared electric mobility.
Rebranded Mahindra Electric Mobility, the company exemplifies the Mahindra Group’s vision of the Future of Mobility – a sustainable automotive ecosystem that brings mobility solutions to customers across the world.
Mahindra Electric also focuses on the manufacturing of batteries and improving the EV infrastructure in the country.
Mahindra Electric EVs in India-
- Mahindra eVerito-The Electric Sedan.
- Mahindra eSupro-India’s first all-electric passenger and cargo van.
- Mahindra e2oPlus-The car that continued India’s electric revolution.
- Mahindra Treo-Our range of low maintenance, lithium-ion battery-powered three-wheelers.
- Mahindra eAlfa Mini-An electric-powered rickshaw that is redefining last-mile connectivity.
Olectra Greentech Limited(Olectra)
Olectra Greentech Limited (Olectra) – a subsidiary of MEIL Group is India’s largest Pure Electric Bus manufacturer having manufacturing facilities in Hyderabad, India.
Olectra is India’s first-ever electric bus manufacturer having manufactured and deployed all variants of Electric Buses in India. Currently, it enjoys a share of 40 percent in the e-bus market.
After leading in the commercial run of electric buses, the company is expanding its product line in the e-mobility segment for 3-wheeler electric autos and electric trucks.
The company’s vision is to reconnect people by futuristic way of travel, we seek to save the earth with an environmentally friendly solution and To be a major player in the electric vehicles segment by creating a safe, comfortable commuting experience.
The Electric Bus Models are-
- Olectra Electric Bus K6
- Olectra Electric Bus K7
- Olectra Electric Bus K9
Okinawa is one of the popular electric two-wheeler companies in India. you must know Okinawa two-wheelers are here to change your thinking. They have already received a great response in the Indian market and will continue to grow.
As of February 2022, Okinawa held the second position among the top two-wheeler brands in India. The company has mainly 2 types of scooters based on speed namely Lithium-ion High Speed and Lithium-ion Slow Speed.
The products in the category of High Speed are:
- Okinawa Okhi-90
- Okinawa iPraise+
- Okinawa PraisePro
- Okinawa Ridge+ (with GPS, without GPS)
The products in the category of Slow Speed are:
- Okinawa Dual (3 variant-55AH,35AH,28AH)
- Okinawa Lite
- Okinawa R30
The KONA Electric is the first All-Electric SUV in India, launched in 2019. Its power-packed performance provides a thrilling driving experience with high acceleration over long distances. KONA Electric is here to change the way people think about going electric.
After thorough observation and analysis, the South Korean car manufacturing company is set to launch 6 new electric cars across various price points by 2028.
Hyundai EV in India-
- Hyundai Kona Electric SUV
Ola Electric Mobility
Ola Electric Mobility is an Indian electric two-wheeler manufacturer, based in Bangalore. Its manufacturing plant is located in Tamil Nadu, India. Ola Electric, a division of Ola Cabs, was established in 2017 as a wholly-owned subsidiary of ANI Technologies.
Ola Electric received 500,000 bookings for scooters in the first month of availability and claims to become the largest two-wheeler brand in the world with a production of 10 million units annually in the coming years.
2 models namely Ola S1 and Ola S1 pro have huge popularity because of their technologies and features.
Ola EVs in India-
- Ola S1
- Ola S1 Pro
The transfer of EV business to Switch India is being undertaken with an aim to integrate the capabilities of Ashok Layland’s EV business. SMAL(Switch Mobility Automotive Ltd) has been primarily formed to drive the EV business of the company.
Ashok Layland is a commercial vehicle giant. The company has received orders and contracts from various state governments to deliver electric buses.
Ampere set out to take action back in 2008 and is currently 3rd largest two-wheeler electric vehicle brand in the country.
Through research and innovation, the brand designs Electric vehicles that power India through New Age Energy. Take charge of your journey with Ampere’s sustainable mobility and ride towards a cleaner and greener planet.
Currently, it has 4 electric scooters in its fleet namely Magnus EX, Magnus, Zeal EX, and Reo Plus. The company has seen future growth in this industry. The brands open a new experience center in Tamil Nadu in January 2022.
Ampere EVs in India-
- Ampere Magnus EX
- Ampere Magnus
- Ampere Zeal EX
- Ampere Reo Plus
Ather Energy is an Indian electric vehicle company founded in 2013. It manufactures two electric scooters – the Ather 450X and the Ather 450 Plus. It has also established an electric vehicle charging infrastructure across the country called Ather Grid.
Ather has completed its charging infrastructure across 30+ cities and 350+ locations in India. These scooters have excellent features like 7” LCD display (you can control phone calls, manage music, explore google maps), reverse assist, Bluetooth connectivity, etc.
Ather Energy EVs in India-
- Ather 450X
- Ather 450Plus
Nowadays we all want to discover the top companies’ electric cars and scooters. The above top 10 electric vehicle manufacturers are well known and well established in India. But there are few more companies operating or trying to invest in India to capture the huge EV market. Some of them are: