Introduction
India’s electric vehicle (EV) market is rapidly growing, driven by the need for sustainable transportation solutions. Several innovative startups are leading the charge in this sector, developing cutting-edge technologies and products to revolutionize the automotive industry. This article explores the top 10 electric vehicle startups in India, highlighting their unique contributions and impact.
Top 10 Electric Vehicle Startups in India
1. Ather Energy
| Feature | Description |
|---|---|
| Founded | 2013 |
| Founder | Tarun Mehta, Swapnil Jain |
| Headquarters | Bengaluru |
| Specialization | Electric scooters |
| Key Technology | Lithium-ion battery, IoT integration |
| User Base | 10,000+ users |
| Services Offered | Ather 450X, Ather Grid charging network |
| Funding | $102 million |
| Notable Collaborations | Hero MotoCorp, Sachin Bansal |
| Revenue | ₹130 crore (FY21) |
| Awards | Frost & Sullivan Award, NASSCOM IoT Award |
| Mission | Accelerate the adoption of electric vehicles |
| Impact | Reduced urban pollution |
| Core Values | Innovation, Sustainability, Excellence |
Ather Energy: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
Ather Energy, founded in 2013 by Tarun Mehta and Swapnil Jain, is a leading EV startup based in Bengaluru. The company specializes in electric scooters and has developed the popular Ather 450X, which features a high-performance lithium-ion battery and IoT integration for smart connectivity. Ather Energy also operates the Ather Grid charging network, ensuring easy access to charging stations for its users.
Ather Energy has secured significant funding from investors such as Hero MotoCorp and Sachin Bansal. The company’s innovative approach has earned it several awards, including the Frost & Sullivan Award and the NASSCOM IoT Award. Ather Energy’s mission is to accelerate the adoption of electric vehicles by providing efficient and sustainable mobility solutions. The startup’s core values of innovation, sustainability, and excellence drive its commitment to reducing urban pollution and enhancing the EV ecosystem.
2. Ola Electric
| Feature | Description |
|---|---|
| Founded | 2017 |
| Founder | Bhavish Aggarwal |
| Headquarters | Bengaluru |
| Specialization | Electric scooters, EV infrastructure |
| Key Technology | Hypercharger network, battery swapping |
| User Base | 1,00,000+ users |
| Services Offered | Ola S1, Ola S1 Pro scooters |
| Funding | $300 million |
| Notable Collaborations | SoftBank, Hyundai |
| Revenue | ₹200 crore (FY21) |
| Awards | TIME 100 Most Influential Companies |
| Mission | Revolutionize urban mobility |
| Impact | Large-scale adoption of EVs |
| Core Values | Innovation, Affordability, Sustainability |
Ola Electric: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
Ola Electric, founded in 2017 by Bhavish Aggarwal, is a prominent EV startup based in Bengaluru. The company focuses on electric scooters and EV infrastructure, with popular models like the Ola S1 and Ola S1 Pro. Ola Electric is also developing a Hypercharger network to provide fast and efficient charging solutions, as well as exploring battery swapping technology to enhance convenience for users.
Ola Electric has attracted substantial funding from global investors like SoftBank and Hyundai, enabling rapid expansion and innovation. The company’s mission is to revolutionize urban mobility by making electric vehicles accessible and affordable. Ola Electric’s achievements have been recognized with accolades such as being named one of TIME’s 100 Most Influential Companies. By promoting large-scale EV adoption, Ola Electric is contributing to reducing urban pollution and fostering a sustainable future.
3. Revolt Motors
| Feature | Description |
|---|---|
| Founded | 2017 |
| Founder | Rahul Sharma |
| Headquarters | Gurugram |
| Specialization | Electric motorcycles |
| Key Technology | Artificial Intelligence, swappable battery |
| User Base | 20,000+ users |
| Services Offered | Revolt RV400, RV300 |
| Funding | $150 million |
| Notable Collaborations | RattanIndia |
| Revenue | ₹80 crore (FY21) |
| Awards | India Design Mark, CES Innovation Award |
| Mission | Make commuting smart and sustainable |
| Impact | Enhanced EV adoption in two-wheeler segment |
| Core Values | Innovation, Efficiency, Sustainability |
Revolt Motors: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
Revolt Motors, founded in 2017 by Rahul Sharma, is a Gurugram-based startup that focuses on electric motorcycles. The company’s flagship products, the Revolt RV400 and RV300, feature AI integration and swappable batteries, offering smart and sustainable commuting options. Revolt Motors aims to make EVs more appealing by combining cutting-edge technology with user-friendly features.
The startup has secured significant funding, including a major investment from RattanIndia, enabling it to expand its product offerings and market reach. Revolt Motors’ innovative approach has earned it awards such as the India Design Mark and the CES Innovation Award. The company’s mission is to enhance EV adoption in the two-wheeler segment by providing efficient and sustainable alternatives to traditional motorcycles. Revolt Motors’ core values of innovation, efficiency, and sustainability drive its efforts to transform urban commuting.
4. Tork Motors
| Feature | Description |
|---|---|
| Founded | 2010 |
| Founder | Kapil Shelke |
| Headquarters | Pune |
| Specialization | Electric motorcycles |
| Key Technology | Lithium-ion battery, cloud connectivity |
| User Base | 5,000+ users |
| Services Offered | Tork T6X |
| Funding | $12 million |
| Notable Collaborations | Bharat Forge |
| Revenue | ₹20 crore (FY21) |
| Awards | Tech30, EV Bike of the Year |
| Mission | Redefine the motorcycle experience |
| Impact | Promoting sustainable transportation |
| Core Values | Innovation, Performance, Sustainability |
Tork Motors: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
Tork Motors, founded in 2010 by Kapil Shelke, is a Pune-based startup that specializes in electric motorcycles. The company’s flagship model, the Tork T6X, features a high-performance lithium-ion battery and cloud connectivity for real-time data and diagnostics. Tork Motors aims to redefine the motorcycle experience by offering a powerful and sustainable alternative to traditional bikes.
With backing from Bharat Forge, Tork Motors has secured substantial funding to develop and expand its product lineup. The startup’s innovative solutions have earned it recognition, including being named among the Tech30 and receiving the EV Bike of the Year award. Tork Motors’ mission is to promote sustainable transportation by providing high-performance electric motorcycles. The company’s core values of innovation, performance, and sustainability guide its commitment to transforming the motorcycle industry.
5. Ultraviolette Automotive
| Feature | Description |
|---|---|
| Founded | 2015 |
| Founder | Narayan Subramaniam, Niraj Rajmohan |
| Headquarters | Bengaluru |
| Specialization | High-performance electric motorcycles |
| Key Technology | Lithium-ion battery, modular design |
| User Base | 3,000+ users |
| Services Offered | Ultraviolette F77 |
| Funding | $20 million |
| Notable Collaborations | TVS Motor Company |
| Revenue | ₹15 crore (FY21) |
| Awards | Indian Motorcycle of the Year Award |
| Mission | Pioneer high-performance electric mobility |
| Impact | Enhanced adoption of high-performance EVs |
| Core Values | Innovation, Performance, Sustainability |
Ultraviolette Automotive: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
Ultraviolette Automotive, founded in 2015 by Narayan Subramaniam and Niraj Rajmohan, is a Bengaluru-based startup specializing in high-performance electric motorcycles. The company’s flagship model, the Ultraviolette F77, features a high-capacity lithium-ion battery and a modular design that emphasizes performance and sustainability. Ultraviolette aims to pioneer high-performance electric mobility solutions.
The startup has secured significant funding from TVS Motor Company, enabling it to advance its technological capabilities and market reach. Ultraviolette’s innovative approach has earned it the Indian Motorcycle of the Year Award, recognizing its contributions to the EV sector. The company’s mission is to enhance the adoption of high-performance electric vehicles by providing cutting-edge solutions that combine innovation and sustainability. Ultraviolette’s core values of innovation, performance, and sustainability drive its efforts to transform the electric mobility landscape.
6. Yulu
| Feature | Description |
|---|---|
| Founded | 2017 |
| Founder | Amit Gupta |
| Headquarters | Bengaluru |
| Specialization | Electric bike sharing |
| Key Technology | IoT, AI |
| User Base | 1,00,000+ users |
| Services Offered | Yulu Move, Yulu Miracle |
| Funding | $20 million |
| Notable Collaborations | Bajaj Auto, Blume Ventures |
| Revenue | ₹50 crore (FY21) |
| Awards | Mobility Startup of the Year |
| Mission | Redefine urban mobility |
| Impact | Reduced traffic congestion and pollution |
| Core Values | Sustainability, Innovation, Affordability |
Yulu: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
Yulu, founded in 2017 by Amit Gupta, is a Bengaluru-based startup that provides electric bike sharing services. The company’s offerings, Yulu Move and Yulu Miracle, feature IoT and AI integration for seamless urban mobility. Yulu aims to redefine urban transportation by providing an affordable, sustainable, and convenient alternative to traditional vehicles.
With substantial funding from Bajaj Auto and Blume Ventures, Yulu has rapidly expanded its user base and service offerings. The startup’s innovative approach has earned it the Mobility Startup of the Year award, recognizing its contributions to improving urban mobility. Yulu’s mission is to reduce traffic congestion and pollution by promoting the use of electric bikes for short-distance travel. The company’s core values of sustainability, innovation, and affordability drive its commitment to transforming urban transportation.
7. AVERA
| Feature | Description |
|---|---|
| Founded | 2018 |
| Founder | Akash Reddy |
| Headquarters | Vijayawada |
| Specialization | Electric scooters |
| Key Technology | Lithium-ion battery, IoT |
| User Base | 3,000+ users |
| Services Offered | AVERA Retrosa |
| Funding | $5 million |
| Notable Collaborations | AP Government |
| Revenue | ₹10 crore (FY21) |
| Awards | EV Startup of the Year |
| Mission | Promote eco-friendly transportation |
| Impact | Increased adoption of electric scooters |
| Core Values | Sustainability, Innovation, Affordability |
AVERA: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
AVERA, founded in 2018 by Akash Reddy, is a Vijayawada-based startup that specializes in electric scooters. The company’s flagship product, AVERA Retrosa, features a high-performance lithium-ion battery and IoT integration for smart connectivity. AVERA aims to promote eco-friendly transportation by providing efficient and affordable electric scooters.
The startup has secured funding from various investors and has notable collaborations with the Andhra Pradesh government to support its growth and development. AVERA’s innovative approach has earned it recognition, including the EV Startup of the Year award. The company’s mission is to increase the adoption of electric scooters by offering sustainable and cost-effective solutions. AVERA’s core values of sustainability, innovation, and affordability drive its efforts to create a cleaner and greener environment.
8. eBikeGo
| Feature | Description |
|---|---|
| Founded | 2017 |
| Founder | Irfan Khan |
| Headquarters | Mumbai |
| Specialization | Electric bike rentals |
| Key Technology | IoT, data analytics |
| User Base | 50,000+ users |
| Services Offered | eBike rentals, fleet management |
| Funding | $3 million |
| Notable Collaborations | RedBus, Zomato |
| Revenue | ₹20 crore (FY21) |
| Awards | Best Startup in Mobility Solutions |
| Mission | Revolutionize last-mile connectivity |
| Impact | Reduced carbon footprint and traffic |
| Core Values | Sustainability, Innovation, Accessibility |
eBikeGo: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
eBikeGo, founded in 2017 by Irfan Khan, is a Mumbai-based startup that provides electric bike rentals. The company offers IoT and data analytics-driven solutions for both individual users and businesses, facilitating efficient last-mile connectivity. eBikeGo’s services include electric bike rentals and fleet management, catering to a diverse user base of over 50,000 customers.
The startup has secured funding to expand its operations and has established notable collaborations with companies like RedBus and Zomato. eBikeGo’s innovative solutions have earned it the Best Startup in Mobility Solutions award. The company’s mission is to revolutionize last-mile connectivity by providing sustainable and accessible electric mobility options. eBikeGo’s core values of sustainability, innovation, and accessibility guide its efforts to reduce carbon footprints and traffic congestion in urban areas.
9. PURE EV
| Feature | Description |
|---|---|
| Founded | 2016 |
| Founder | Nishanth Dongari |
| Headquarters | Hyderabad |
| Specialization | Electric scooters, e-bikes |
| Key Technology | Lithium-ion battery, BMS |
| User Base | 10,000+ users |
| Services Offered | EPluto, ETrance series |
| Funding | $8 million |
| Notable Collaborations | IIT Hyderabad |
| Revenue | ₹40 crore (FY21) |
| Awards | Best EV Startup |
| Mission | Provide reliable and affordable electric mobility |
| Impact | Increased adoption of electric vehicles |
| Core Values | Innovation, Sustainability, Affordability |
PURE EV: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
PURE EV, founded in 2016 by Nishanth Dongari, is a Hyderabad-based startup specializing in electric scooters and e-bikes. The company’s product lineup includes the EPluto and ETrance series, which feature advanced lithium-ion battery technology and Battery Management Systems (BMS) for enhanced performance and reliability. PURE EV aims to provide reliable and affordable electric mobility solutions to a broad user base.
The startup has secured significant funding and collaborates closely with IIT Hyderabad to drive innovation and research in the EV sector. PURE EV’s achievements have been recognized with the Best EV Startup award. The company’s mission is to increase the adoption of electric vehicles by offering high-quality and cost-effective products. PURE EV’s core values of innovation, sustainability, and affordability guide its commitment to promoting sustainable transportation and reducing environmental impact.
10. Okinawa Autotech
| Feature | Description |
|---|---|
| Founded | 2015 |
| Founder | Jeetender Sharma |
| Headquarters | Gurugram |
| Specialization | Electric scooters |
| Key Technology | Lithium-ion battery, swappable battery |
| User Base | 20,000+ users |
| Services Offered | Okinawa Praise, Ridge |
| Funding | $20 million |
| Notable Collaborations | Panasonic, Exicom |
| Revenue | ₹100 crore (FY21) |
| Awards | Electric Vehicle of the Year |
| Mission | Enhance electric mobility accessibility |
| Impact | Significant market presence in the EV sector |
| Core Values | Innovation, Reliability, Sustainability |
Okinawa Autotech: TOP 10 ELECTRIC VEHICLE STARTUPS IN INDIA
Okinawa Autotech, founded in 2015 by Jeetender Sharma, is a Gurugram-based startup that focuses on electric scooters. The company’s product range includes the popular Okinawa Praise and Ridge models, which feature high-performance lithium-ion and swappable battery technologies. Okinawa Autotech aims to enhance the accessibility of electric mobility solutions in India.
The startup has secured substantial funding and collaborates with leading companies like Panasonic and Exicom to drive technological advancements. Okinawa Autotech’s contributions to the EV sector have been recognized with awards such as the Electric Vehicle of the Year. The company’s mission is to promote sustainable transportation by making electric vehicles more accessible and reliable. Okinawa Autotech’s core values of innovation, reliability, and sustainability guide its efforts to create a significant impact in the EV market.
FAQs
1. What is the importance of electric vehicle startups in India?
Electric vehicle startups in India play a crucial role in promoting sustainable transportation solutions, reducing carbon emissions, and enhancing energy efficiency. They contribute to the growth of the EV ecosystem and help address environmental challenges.
2. How do these startups contribute to sustainability?
These startups contribute to sustainability by developing and promoting electric vehicles that reduce reliance on fossil fuels, lower greenhouse gas emissions, and promote cleaner air. Their innovative solutions help create a more sustainable future.
3. What technologies are commonly used by electric vehicle startups?
Common technologies used by electric vehicle startups include lithium-ion batteries, IoT integration, artificial intelligence, battery management systems, and swappable battery technology. These technologies enhance the performance, efficiency, and user experience of electric vehicles.
4. How do electric vehicle startups collaborate with other organizations?
Electric vehicle startups collaborate with government agencies, corporations, research institutions, and international organizations to expand their reach, enhance their technological capabilities, and implement large-scale projects. These collaborations often involve funding, research, and joint initiatives to promote sustainability.
5. What challenges do electric vehicle startups face in India?
Challenges faced by electric vehicle startups in India include securing funding, navigating regulatory environments, scaling their technologies, creating market awareness, and building robust EV infrastructure. Despite these challenges, many startups continue to innovate and make significant contributions to sustainability.
6. How can businesses benefit from partnering with electric vehicle startups?
Businesses can benefit from partnering with electric vehicle startups by adopting innovative technologies that improve energy efficiency, reduce operational costs, enhance sustainability, and meet regulatory requirements. These partnerships can also help businesses achieve their environmental goals and improve their market competitiveness.
7. What is the future outlook for electric vehicle startups in India?
The future outlook for electric vehicle startups in India is promising, with increasing awareness and demand for sustainable transportation solutions. Continued innovation,
government support, and strategic partnerships are expected to drive growth and development in the EV sector.
Conclusion
India’s electric vehicle startups are at the forefront of the country’s transition to sustainable transportation. With innovative technologies, strategic collaborations, and a commitment to sustainability, these startups are shaping the future of mobility. Their contributions are vital in reducing carbon emissions, enhancing energy efficiency, and creating a cleaner environment. As the EV market continues to grow, these startups will play a key role in driving the adoption of electric vehicles and promoting a sustainable future for India and the world.
