The electric vehicles (EV) startups in India scene continues to thrive, fueled by government support and growing consumer demand for sustainable transportation options. With India aiming to have only electric vehicles on its roads by 2030, EV startups are at the forefront of this transition.
Several electric vehicle startups in India have emerged, including Ola Electric, Ather Energy, and Strom Motors, among others. The electric vehicle startups in India are highly competitive, with a focus on developing affordable and reliable EVs that can cater to the needs of the Indian consumer. With a large and growing market for EVs, it is expected that more startups will enter the space in the coming years.
What are Electric vehicles (EVs)?
Electric Vehicles (EVs) are vehicles that run on electric motors powered by rechargeable batteries, unlike traditional vehicles that run on fossil fuels. EVs come in various forms such as battery-electric, plug-in hybrid-electric, and fuel-cell electric vehicles. Battery-electric vehicles (BEVs) rely entirely on their batteries for power, while plug-in hybrid-electric vehicles (PHEVs) have both a battery and a gasoline engine. Fuel cell electric vehicles (FCEVs) use hydrogen as a fuel source to generate electricity through a chemical reaction with oxygen, producing only water and heat as emissions. EVs are considered to be more environmentally friendly and cost-effective in the long run, with the increasing availability of charging infrastructure and advancements in battery technology making them more attractive to consumers.
The 10 Best EV Startups in India in 2023
- Ola Electric
OLA Electric is a leading electric mobility company based in India that offers a range of electric vehicles and charging solutions. The company was founded in 2017 by Bhavish Aggarwal and Ankit Bhati, who also co-founded Ola Cabs, a popular ride-hailing platform. OLA Electric is committed to driving the adoption of electric vehicles in India and has introduced a range of products, including electric scooters and electric motorcycles. The company has also set up a network of charging stations across the country to support the growing demand for electric vehicles. OLA Electric is a key player in the transition towards a more sustainable and environmentally friendly transportation system in India.
- Ather Energy
Ather Energy is an Indian electric vehicle company that was founded in 2013 by Tarun Mehta and Swapnil Jain. The company is headquartered in Bangalore and specializes in the production of electric scooters. Ather Energy has introduced two electric scooter models, the Ather 450 and the Ather 450X, which are both known for their innovative design and high-performance capabilities. The company has also set up a network of charging stations across major cities in India to support the growing demand for electric vehicles. Ather Energy has gained a reputation as a leading innovator in the Indian electric vehicle industry and is committed to driving the adoption of sustainable transportation solutions.
- Yulu
Yulu is an Indian electric bike-sharing company that was founded in 2017 by Amit Gupta, RK Misra, and Naveen Dachuri. The company is headquartered in Bangalore and operates in several cities across India, including Mumbai, Pune, and Delhi. Yulu aims to provide affordable and eco-friendly transportation solutions by offering electric bikes for short-distance commuting. The company has introduced several models of electric bikes, including the Yulu Miracle and the Yulu Move. Yulu is committed to reducing traffic congestion and air pollution in Indian cities and has received recognition for its innovative approach to sustainable transportation. Yulu has also partnered with several organizations and government agencies to promote the use of electric vehicles in India.
- Tork Motors
Tork Motors is an Indian electric motorcycle company that was founded in 2009 by Kapil Shelke. The company is headquartered in Pune and specializes in the production of high-performance electric motorcycles. Tork Motors has introduced several models of electric motorcycles, including the T6X and the upcoming Tork T4X. The T6X is known for its innovative design and features, including a touchscreen display and a range of up to 100 km on a single charge. Tork Motors is committed to driving the adoption of electric vehicles in India and has received recognition for its efforts towards sustainable transportation. The company has also set up a network of charging stations across major cities in India to support the growing demand for electric motorcycles.
- Ultraviolette Automotive
Ultraviolette Automotive is an Indian electric vehicle company that was founded in 2016 by Narayan Subramaniam and Niraj Rajmohan. The company is headquartered in Bangalore and specializes in the production of high-performance electric motorcycles. Ultraviolette Automotive has introduced one model of electric motorcycle, the F77, which is known for its advanced technology and features. The F77 features a top speed of 147 km/h and a range of up to 150 km on a single charge. Ultraviolette Automotive is committed to driving the adoption of electric vehicles in India and has received recognition for its innovative approach to sustainable transportation. The company is poised to make a significant impact on the Indian electric vehicle market in the coming years.
- Revolt Motors
Revolt Motors is an Indian electric motorcycle company that was founded in 2019 by Rahul Sharma. The company is headquartered in Gurgaon and specializes in the production of high-performance electric motorcycles. Revolt Motors has introduced two models of electric motorcycles, the RV400 and the RV300, which are known for their innovative design and advanced features. The RV400 features a top speed of 85 km/h and a range of up to 150 km on a single charge, while the RV300 features a top speed of 65 km/h and a range of up to 180 km on a single charge. Revolt Motors is committed to driving the adoption of electric vehicles in India and has received recognition for its innovative approach to sustainable transportation. The company has also set up a network of charging stations across major cities in India to support the growing demand for electric motorcycles.
- Okinawa
Okinawa Autotech Pvt Ltd is an Indian electric two-wheeler manufacturing company. Founded in 2015, the company is headquartered in Gurugram and specializes in the production of electric scooters. Okinawa offers a range of electric scooters that are known for their innovative design, reliability, and affordability. The company is committed to driving the adoption of electric vehicles in India and has set up a network of dealerships and service centres across the country. Okinawa has received recognition for its efforts towards sustainable transportation and is poised to make a significant impact on the Indian electric vehicle market in the coming years.
- Emflux Motors
Emflux Motors is an Indian electric motorcycle company that was founded in 2016 by Varun Mittal. The company is headquartered in Bangalore and specializes in the production of high-performance electric motorcycles. Emflux Motors has introduced one electric motorcycle model Emflux One, known for its cutting-edge technology and features. The Emflux One features a top speed of 200 km/h and a range of up to 200 km on a single charge. Emflux Motors is committed to driving the adoption of electric vehicles in India and has received recognition for its innovative approach to sustainable transportation. The company has also set up a network of charging stations across major cities in India to support the growing demand for electric motorcycles.
- Euler Motors
Euler Motors is an Indian electric vehicle company that was founded in 2018 by Saurav Kumar. The company is headquartered in Delhi and specializes in the production of electric commercial vehicles, such as delivery vans and trucks. Euler Motors offers a range of electric vehicles that are known for their high-performance capabilities, reliability, and low operational costs. The company is committed to driving the adoption of electric vehicles in India’s commercial transportation sector and has received recognition for its innovative approach to sustainable transportation. Euler Motors has also set up a network of charging stations and service centres to support its growing fleet of electric vehicles.
- Strom Motors
Strom Motors is an Indian electric vehicle company that was founded in 2011 by Pratik Gupta. The company is headquartered in Mumbai and specializes in the production of small electric vehicles, such as the Strom-R3 electric car. The Strom-R3 is a three-wheeled electric vehicle that is designed for urban commuting and is known for its innovative design, efficiency, and affordability. The company is committed to driving the adoption of electric vehicles in India and has received recognition for its efforts towards sustainable transportation. Strom Motors is poised to make a significant impact on the Indian electric vehicle market in the coming years, particularly in the urban mobility segment.
Challenges faced by EV startups in India
Electric Vehicle (EV) startups in India face several challenges that can hinder their growth and success. Here are some of the major challenges:
- High upfront costs: EVs are still relatively expensive compared to traditional vehicles due to the cost of batteries, which can make it difficult for startups to compete in the market.
- Lack of charging infrastructure: The charging infrastructure in India is still underdeveloped, which can discourage potential customers from buying EVs and create challenges for startups trying to build a charging network.
- Limited government support: Although the Indian government has taken steps to promote EV adoption, more comprehensive policies are needed to support the EV industry, such as incentives, subsidies, and favourable regulations.
- Limited supply chain: The supply chain for EV components, such as batteries and electric motors, is still developing in India, which can make it difficult for startups to source components and build their products.
- Consumer awareness: Lack of awareness and understanding of EVs among consumers can also pose a challenge for startups trying to market their products and attract customers.
- Competition from established players: Established automobile companies have also started to enter the EV market, creating a competitive environment for startups.
