Electric vehicles have been all the rave ever since Elon Musk took the reigns of Tesla and brought it into prominence. Over the following years, the company grown into one of the world’s biggest automobile companies, which was an impressive feat, considering that electric vehicles were unheard of over a decade ago. And much like around the world, the EV startup ecosystem in India is also booming.
Although there are talks that Tesla might be having a launch in India soon, the company wouldn’t find much success in the commercial sector in the automobile industry. This is primarily because Tesla is more tilted towards the luxury vehicle sector, and the customer base in India is mostly formed around the budget-friendly, gas-powered vehicle sector.
Seizing the opportunity, many startups have popped up to cater to the growing market, and they provide an economically viable option for people who want to go full electro on their wheels.
Here we have an assortment of ventures that are doing well in the EV sector in India. These EV startups are sure to make a revolution in the automobile industry in the country in the coming years.
Now, let’s check out the top 10 EV startups that are looking to boost the EV revolution in the Indian subcontinent over the next few years.
1. Ather Energy – Bengaluru’s Boon
This is a Bengaluru based EV startup, founded in 2013 by IIT Alumni Tarun Mehta and Swapnil Jain. The company have also established an EV charging grid in Bengaluru, the Ather Grid.
They already are making it big and are pretty popular amongst the youth. Aether Energy is also backed by many renowned investors like e-commerce giants Flipkart and others.
They already have 2 variants of their electric-powered scooter – Ather 450x and Ather 450 plus.
Ather bike price starts from Rs. 1,41,621. The most expensive Ather bike is 450X, which is priced at Rs. 1,41,621.
Also read: Bootstrapped Startups in India
2. Yulu – Rent a ride out
Another Bengaluru-based EV startup, which was founded in 2017 by Hemant Gupta, Naveen Dachuri, R.K. Misra, and Amit Gupta is Yulu.
The company has a unique business model, and by that, I mean you can’t actually buy their products.
They usually rent their vehicles in urban areas, where people can easily access them to roam around or reach a destination instead of casually strolling to the places they want to go.
They have 2 variants – Yulu Miracle, a dockless electric scooter, and Yulu Move – an electric powered bicycle.
3. Tork – The First Among Many
A Pune-based EV startup, founded by Kapil Shelke, unveiled India’s first electric motorcycle, the Tork T6X, in September 2016. It even went on to win at the Isle of Man TT, which was a race specifically for e-motorcycles.
Tork Motors is ready to launch other variants of its electric motorcycle lineup very soon. It has already begun setting up charging infrastructure in Pune. Currently, the company is expanding to other regions and states in India by opening showrooms and, what the company calls, experience zones. The company has plans to open 100 outlets in India by the end of 2023. Recently, it opened three of these experience zones in Rajkot and Ahmedabad.
4. Euler – Transportation Electrified
Founded by Saurav Kumar, Euler Motors manufactures light commercial electric vehicles for intra-city transportation. The company was set up in 2018 after Saurav had sold his share in a previous venture.
This guy left a 1-crore paying job, which is a high level of dedication, very rarely seen in entrepreneurs out there.
Euler Motor’s prominent products are commercial EVs and battery packs for the vehicles. The company has been focusing on electric-powered cargo vehicles and has recently launched an electric cargo three-wheeler with a 170km range.
5. Emote Electric – Electric on Gears
Established in 2011 by Pranav Singanapalli, Emote Electric is a Coimbatore-based EV startup that aims to produce high power motorcycles, which are touted to be India’s fastest e-bikes, and that too with gears. The specs the company claims to bring out are mind-boggling, and they were supposed to release in the first half of 2021.
However, the company could not commit to the timeline and both the Emote e-bikes – Surge 6K and Surge 10K, are currently in the pre-booking phase. The estimated on-road price of the Surge 6K is Rs. 1,15,000, while the Surge 10K should be around Rs. 1,35,000.
6. Revolt Motors – Revolting against Oil
Revolt Motors, the startup founded by Micromax co-founder Rahul Sharma, is claimed to have produced India’s first AI-enabled e-bike. They are currently the only one out of this set of startups that have commercialized their product, and they have already sold out in pre-orders.
The highlight product of the company is the RV400 e-bike, which is reportedly available to buy in over 50 cities in India. The price starts at ~Rs. 1,62,000.
Recently, the company somehow pivoted to the fashion and merchandising sector by launching its official clothing and merchandise line on Amazon. However, this does not mean that it is shifting its focus from e-bikes. In fact, the primary aim of the company is to take its made-in-India e-bikes to the international market in the coming years.
7. Ultraviolette Automotive – Ultra Electric
Founded by Narayana Subramaniyam in 2014, this Bengaluru-based electric two-wheeler startup has been developing an electric motorcycle, the Ultraviolette F77, that is reportedly equivalent to conventional bikes belonging to the 200-250cc segment.
With the price between Rs 3.8 lakhs and 4.5 lakhs (on-road), it is slightly on the pricier side. However, that is justifiable as it comes with the performance and the looks. After getting orders from customers, Ultraviolette started delivering the high-performance e-bikes from early 2023.
8. Strom – Taking the Car Industry by Storm
This Mumbai-based startup was founded by Pratik Gupta and Jean-Luc Abaziou. It specializes in the 3-wheel and 2-wheel sectors in India. It unveiled its new flagship product.
The Strom R3, an all-electric personal mobility vehicle recently. The R3 is claimed to have a range of around 200km on a single charge, and offers a mileage of Rs 0.40 paise per kilometre, going by the unit charge.
The company also claims that fully charging the vehicle will take about just three hours, the same as charging a standard mobile phone.
The unique-looking car costs around Rs. 4.5 lakhs, but the company might give incentives for expanding its customer base, going for a budget-friendly option.
9. Orxa Energies – Electrically Amped
The Bengaluru-based startup Orxa Energies unveiled its first electric bike, the Mantis, a naked sports motorcycle, at the India Bike Week in Goa.
It was founded by Ranjita Ravi. This performance-amped bike goes from 0 to 100 km/h in 8 seconds, and they also claim that it has a 200 km range. It is expected to be priced between Rs 3 lakh to Rs 4 lakh.
Ahead of the launch of Mantis, Orxa Energies recently set up a new 1-acre facility in Bengaluru, consiting of the company’s assembly lines, testing centers, and R&D facilities. The company will reportedly take pre-orders for Mantis by the end of 2023.
10. Emflux Motors – Electric in Efflux
Emflux Motors was founded in 2016, by ex-Jugnoo executives Varun Mittal, Ankit Khatry, and a former Designer at TVS Motors Vinay Raj Somashekar.
The Emflux One promised a lot in terms of design as well as specs. It has a 200km range and accelerates from 0 to 100kmph in 3s, the fastest yet.
It also is claimed to have a top speed of 200 Kmph. The expected price is pretty steep, as the starting price is said to be 6 lakhs. But anybody can have one look at this bike, and they wouldn’t be surprised with the asking price.
Although the company announced the Emflux Model 1 quite a long time ago, it has not announced a release date for the super e-bike till now. According to reports, the COVID-19 pandemic and additional operational factors are delaying the launch of the highly anticipated Emflux One.
Also read: Why Windows Phone Failed?
Final Take by Tecvalue
These are not, by any means, the only EV startups in India, but some which have caught the public’s eye, and we made a carefully curated list of the specs, and have presented them to you. Please make sure you check out the other articles.
Which company is currently leading the EV sector in India?
There have been numerous new EV companies in India that have grown since recent past. However, when it comes to leading EV companies in India, Ola, Tata Motors, Bajaj, and a few others continue to dominate the sector.
Which company has the highest market in EV sector in India?
Due to its heavy focus on electric cars, Tata Motors has been leading the EV sector in India with a high market share of 86%.
Which is the no. 1 EV company in India?
According to reports, Tata Motors has continued to dominate the EV sector in India with its line of electric cars like Tata Nexon, Tata Tiago, and others.
Which is the no. 1 EV company in the world?
Although it is difficult to crown an EV company no. 1 in the world, that title would arguably go to Elon Musk’s Tesla.
Is Tesla coming to India?
While Tesla has been trying to penetrate the Indian EV market for quite some time now, it is expected to enter the country soon, especially after Elon Musk recently confirmed at a press conference after meeting Prime Minister Narendra Modi during his US visit.