India’s 16 Most Prominent Electric Vehicle Manufacturers In 2024. According to a survey conducted by iMARC Group, leading companies in the Indian electric vehicle industry are focusing on product diversification to expand their product portfolio and take off their existing business effectiveness.
The result is a combination of regenerative braking, battery management systems (BMS), onboard chargers and telematics in electric vehicles (EVs) to capture the kinetic energy generated during vehicle deceleration and convert it into electricity for recharging battery They monitor battery health, optimize its performance , ensure its safety, And battery life.
They also help to extend. Furthermore, the emergence of mobile application that provides information about vehicle performance, battery status, charging status and allows the driver to monitor or manage the vehicle positively impacts the market with advanced technologies from key manufacturers a manufacturers in the country include , such as Geographic Positioning System (GPS) navigation, remote sensing and anti-theft locking systems, looking ahead to enhance the user experience the Indian electric vehicle market is valued at US $1327.8 million by 2023. It will reach US$102,610.8 million by 2032, 2024 – It projects a growth rate (CAGR) of 60.2% by 2032
Study about opportunities, challenges and trends in the Indian electric vehicle market through IMARC’s market research report. Try a free sample today!
List of Top Companies Operating in the Electric Vehicle Industry in India:
The India electric vehicle market has several major players including
- Greaves Electric Mobility Private Limited (‘GEMPL’),
- Ather Energy Private Limited,
- ATUL Auto Limited,
- Bajaj Auto Limited,
- Electrotherm (India) Limited,
- Hero Electric Vehicles Pvt. Ltd.,
- Hyundai Motor India Ltd,
- JBM Group,
- Mahindra & Mahindra Limited,
- MG Motor India Private Limited,
- Okinawa Autotech Internationall Private Limited,
- Olectra Greentech Limited,
- Piaggio & C. S.p.A.,
- Tata Motors Ltd.,
- TVS Motor Company,
- VE Commercial Vehicles Limited.
More information about these companies has been provided below.
1. Greaves Electric Mobility Private Limited (‘GEMPL’)
Graves Electric Mobility Pty Ltd (‘GEMPL’) focuses on the manufacture of environmentally friendly electric vehicles(Electric Vehicle Manufacturers) for urban transport.
The company aims to transform the Indian transport industry by offering affordable, reliable and sustainable electric vehicles. Its inventory includes an electric scooter, a motorbike and a tricycle.
Is actively committed to environmental sustainability and aims to reduce carbon emissions by promoting the use of electric vehicles in India.
| Establishment: | 2008 |
| Headquarters: | Karnataka, India |
| Website: | ampere.greaveselectricmobility.com |
2. Ather Energy Private Limited
Ather Energy Pvt Ltd is an Indian startup focused on the development and manufacture(Electric Vehicle Manufacturers) of electric scooters.
The company has a vision to develop a sustainable and environmentally friendly mode of transportation for the Indian industry which relies heavily on petrol and diesel powered vehicles and its main product is electricity a high-performance scooter designed to give its customers a better riding experience.
It is also investing in a robust charging system to support the growing demand for electric vehicles in India.
| Establishment: | 2013 |
| Headquarters: | Karnataka, India |
| Website: | atherenergy.com |
3. ATUL Auto Limited
ATUL Auto Limited is an Indian manufacturer of commercial three-wheelers for transporting passengers and goods(Electric Vehicle Manufacturers). It has a diverse range of products including passenger carriers, freight carriers and general purpose vehicles.
Its products are known for their durability, reliability and fuel efficiency. It has a strong distribution network covering most of India, with over 350 outlets and service centers.
| Establishment: | 1986 |
| Headquarters: | Gujarat, India |
| Website: | atulauto.co.in |
4. Bajaj Auto Limited
Bajaj Auto Limited specializes in the development, manufacture and distribution of two wheelers. It is one of the largest two-wheeler manufacturers(Electric Vehicle Manufacturers) in the world, with a strong presence in over 75 countries.
His belongings include motorcycles, scooters and tricycles. Known for its innovation and efficiency, it caters to a wide range of customers from entry to professional.I
It has also invested in the production of electric cars and launched electric scooters and motorcycles in the Indian market.
| Establishment: | 1945 |
| Headquarters: | Pune, Maharashtra, India |
| Website: | bajajauto.com |
5. Electrotherm (India) Limited
Electrotherm (India) Ltd. specializes in the design, manufacture and distribution(Electric Vehicle Manufacturers) of industrial products and services. It has a variety of features including induction stoves, electric scooters, motorbikes and batteries.
It is known for its environmentally friendly innovations that benefit a wide range of customers. It has a strong commitment to research and development and has invested in the development of advanced technologies for its products.
| Establishment: | 1983 |
| Headquarters: | Gujarat, India |
| Website: | electrotherm.com |
6. Hero Electric Vehicles Pvt. Ltd.
Hero Electric Cars Pvt. Ltd. manufactures and distributes(Electric Vehicle Manufacturers) two-wheeled electric vehicles. It offers a wide range of electric scooters and motorbikes, catering to different segments of the industry.
It is known for its environmentally friendly innovations, designed to reduce carbon emissions and promote sustainable transportation. It has a strong distribution network covering most of India, with more than 500 outlets and service centres.
The company has also expanded its business overseas, exporting to countries such as Europe, Africa and the Middle East East.
7. Hyundai Motor India Ltd.
Hyundai Motor India Limited is a subsidiary of South Korean multinational automaker Hyundai Motor Company(Electric Vehicle Manufacturers). The company manufactures and distributes a wide range of vehicles, including hatchbacks, sedans, SUVs and electric vehicles.
Strategies have been implemented to reduce carbon emissions and promote environmental sustainability. It is committed to providing quality products and services to its customers and has been recognized with several awards for its achievements in the Indian automotive industry
| Establishment: | 1996 |
| Headquarters: | Gurugram, Haryana, India |
| Website: | hyundai.com/in |
8. JBM Group
JBM Group is an Indian multinational company that designs, manufactures and distributes(Electric Vehicle Manufacturers) automotive parts and systems. Its product portfolio includes sheet metal components, assemblies, exhaust systems and buses.
It has strongly focused on innovation and developed advanced technologies for its products. It has a robust distribution network covering most of India, with over 25 manufacturing facilities and 10 design centres.
The business has expanded overseas, operating in countries such as Mexico, Germany and the United Kingdom.
| Establishment: | 1983 |
| Headquarters: | Gurugram, Haryana, India |
| Website: | jbmgroup.com |
9. Mahindra & Mahindra Limited
Mahindra & Mahindra Limited primarily deals in electric vehicles(Electric Vehicle Manufacturers) and related accessories. Its portfolio includes electric cars, tricycles(three-wheelers) and commercial vehicles. It has a robust distribution network covering most of India, with more than 100 outlets and service centers.
The company has also expanded its operations overseas, with exports to Nepal, Bhutan and Sri Lanka. It is committed to implementing sustainable development and implementing various strategies to reduce its carbon footprint and promote environmental sustainability.
| Establishment: | 1994 |
| Headquarters: | Bangalore, Karnataka, India |
| Website: | mahindralastmilemobility.com |
10. MG Motor India Private Limited
MG Motor India Private Limited is a subsidiary of SAIC Motor Corporation Limited, a Chinese multinational automaker(Electric Vehicle Manufacturers). It manufactures and distributes vehicles such as SUVs, electric cars and plug-in hybrids.
Known for its innovation and efficiency, it caters to a wide range of customers from entry to professional. It has a robust distribution network covering most of India, with more than 220 outlets and outlets.
| Establishment: | 2017 |
| Headquarters: | Gurugram, Haryana, India |
| Website: | mgmotor.co.in |
11. Okinawa Autotech Internationall Pvt Ltd.
Okinawa Autotech International Private Limited designs, manufactures and distributes electric scooters and motorcycles(Electric Vehicle Manufacturers). Its product range includes electric scooters catering to a wide range of customers from entry to luxury.
It has a strong commitment to research and development and has invested in the development of advanced technologies for its products. It has a robust distribution network covering most of India, with more than 350 dealerships and service centers.
It has been recognized with many awards for its achievements in the Indian automotive industry and is committed to supplying products and quality services to its customers.
| Establishment: | 2015 |
| Headquarters: | Gurugram, Haryana, India |
| Website: | okinawascooters.com |
12. Olectra Greentech Limited
Olectra Greentech Ltd. specializes in the design, manufacture and distribution of electric buses and related products(Electric Vehicle Manufacturers). Its portfolio includes a fleet of electric buses, catering to the public transport, tourism and corporate transport sectors.
It has a strong distribution network covering most of India, with more than 200 buses already running across cities in India. It is committed to implementing sustainable development and implementing various strategies to reduce its carbon footprint and promote environmental sustainability.
| Establishment: | 2000 |
| Headquarters: | Hyderabad, Telangana, India |
| Website: | https://olectra.com |
13. Piaggio & C. S.p.A.
Piaggio & C. S.p.A. manufactures and distributes two-wheeled motor vehicles and commercial vehicles(Electric Vehicle Manufacturers). Its product range includes a range of scooters, motorcycles and tricycles catering to a wide range of customers from entry to high end segment Its products are known for their iconic design, innovative technology and superior performance.
It has a strong distribution network that covers most of the world, with more than 7,000 dealers and service centers.
| Establishment: | 1999 |
| Headquarters: | Pune, Maharashtra, India |
| Website: | www.piaggiogroup.com |
14. Tata Motors Ltd.
Tata Motors Ltd. is an Indian multinational automaker specializing in passenger cars, commercial vehicles and electric vehicles(Electric Vehicle Manufacturers) Its product range includes cars, catering to a wide range of customers from entry to luxury.
Its products are known for their durability, reliability and performance. The company has a strong distribution network covering most of the world with more than 8,000 dealers and service centers.
| Establishment: | 1945 |
| Headquarters: | Mumbai, Maharashtra, India |
| Website: | tatamotors.com |
15. TVS Motor Company
TVS Motor Company is an Indian multinational manufacturer(Electric Vehicle Manufacturers) of two and three wheelers. Its product range includes a wide range of motorcycles, scooters and tricycles, catering to a wide range of customers from entry level to premium segments It has a strong distribution network covering most of the world, with over 5,000 units sales and service centers.
The company has been recognized with numerous awards for its achievements in the automotive industry and is committed to providing quality products and services to its customers.
| Establishment: | 1979 |
| Headquarters: | Chennai, Tamil Nadu, India |
| Website: | tvsmotor.com |
16. VE Commercial Vehicles Limited
V.E. It is committed to implementing sustainable development and implementing(trucks and buses) various strategies to reduce its carbon footprint and promote environmental sustainability. It exports to more than 34 countries and is recognized as an industry leader in commercial vehicles(Electric Vehicle Manufacturers) in India and developing countries.
FAQ: India’s 16 Most Prominent Electric Vehicle Manufacturers In 2024
Q. What is the current status of the electric vehicle market in India?
Ans. The electric vehicle market in India is rapidly growing, with significant investments and advancements in technology. According to a survey by iMARC Group, the market is projected to reach US$102,610.8 million by 2032, with a projected growth rate (CAGR) of 60.2%.
Q. What are some key technological features incorporated by electric vehicle manufacturers in India?
Ans. Electric vehicle manufacturers in India are integrating various advanced technologies into their products, including regenerative braking, battery management systems (BMS), onboard chargers, and telematics. These features help in capturing kinetic energy during vehicle deceleration, monitoring battery health, optimizing performance, ensuring safety, and extending battery life.
Q. How are electric vehicle companies enhancing user experience through technology?
Ans. The emergence of mobile applications that provide real-time information about vehicle performance, battery status, charging status, and remote vehicle management positively impacts the market. Additionally, companies are integrating technologies such as Geographic Positioning System (GPS) navigation, remote sensing, and anti-theft locking systems to enhance the user experience.
Q. What are some challenges faced by the electric vehicle industry in India?
Ans. While the electric vehicle industry in India is experiencing rapid growth, it also faces challenges such as limited charging infrastructure, high initial costs of electric vehicles, and range anxiety among consumers. However, efforts are being made by manufacturers and the government to address these challenges and promote widespread adoption of electric vehicles.
Q. How do electric vehicle manufacturers contribute to environmental sustainability?
Ans. Electric vehicle manufacturers in India are committed to reducing carbon emissions and promoting environmental sustainability through the production and adoption of electric vehicles. By offering eco-friendly transportation alternatives, these companies aim to mitigate the environmental impact of traditional petrol and diesel-powered vehicles.
Q. Which are some prominent electric vehicle manufacturers operating in India?
Ans. Some of the leading electric vehicle manufacturers in India include Greaves Electric Mobility Private Limited, Ather Energy Private Limited, Bajaj Auto Limited, Mahindra & Mahindra Limited, Tata Motors Ltd., and TVS Motor Company, among others. These companies are at the forefront of innovation and are driving the transition towards sustainable mobility in India.
Q. How can I learn more about opportunities, challenges, and trends in the Indian electric vehicle market?
Ans. You can gain comprehensive insights into the Indian electric vehicle market by studying market research reports from reputable sources like iMARC Group. These reports provide valuable information on market dynamics, industry trends, competitive landscape, and future outlook, helping stakeholders make informed decisions.