Top EV Companies to Watch in India

We have compiled a list of EV companies based on their product, innovation and market value in the coming decades.

Top EV Companies to Watch in India

In India, the Electric Vehicle (EV) ecosystem is still in its infancy. On the other hand, the federal government has already launched the second phase of its ambitious FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles) strategy, which aims to accelerate EV adoption across the country. 

According to NITI Aayog, India EV industry can generate revenue of $300 billion by 2030 using electric automobiles, electric scooters, electric motorbikes and electric buses. We have compiled a list of top EV companies in India for the next decade on the basis of their product, service, innovation they offer and market value and sentiments. 

1. Ather Energy: 

Last year, Ather Energy introduced its Ather 450 and Ather 450x electric scooter models in India, which are primarily suited for city use. Both electric scooters, business-wise, were created to solve a number of issues in the two-wheeler industry, such as delayed charging, low-power motors and limited battery life. 

Ather Energy also offers the Ather One plan. Which includes free public, domestic charging as well as breakdown assistance and unlimited broadband connectivity. 

7 Things To Know About Ather 450X and 450 Plus

2. Three Wheels United: 

Three Wheels is a technology-enhanced financier for United India's Light Electric Vehicles. Which starts with auto rickshaw.

Three Wheels United covers competitive loans by integrating customized financing solutions with new debt management and asset management technologies. And lowers the barriers to further pursuing your loan and minimizes the risk.  

They do away with the hassle of large down payments with unique structured financing specially created for mobility properties and offer loans to credit seekers up to 100% of the cost of the vehicle at low interest rates. 

TWU has created a data-driven technology. Which integrates debt and asset management. Lowers operating costs and lowers default rates while increasing drivers' income.


Alpha EV recently unveiled a range of AC electric vehicle chargers on India's 75th Independence Day, making them Maharashtra's first dedicated EV charger manufacturing firm.

Alphaa EV

 In the coming years, the company intends to expand into the rapid charging charging segment as well. To meet the need and demand of EV charging solutions, they have an in-house dedicated R&D team and a 6,000 square feet workshop. 

Their products were designed to meet the needs of the common Indian Electric Vehicle Owner and meet all their needs. In addition, the products feature a futuristic and durable design that ensures a long life of the equipment. 

Keeping in mind the regular fluctuations of the environment in India, the chargers are weather resistant and waterproof as well. 

4. BluSmart: 

BluSmart is India's first and largest Integrated Electric Vehicle (EV) ride-hailing and charging firm, whose mission is to provide safer, cleaner and more sustainable travel.

It is the first of its kind, in which there is no surcharge and payment by the drivers. Last time every car was sanitized through the customer BlueSmart app. And can check the vaccination status of the driver, which is very important in the Indian market. 

Exclusive: BluSmart raises Rs 37 Cr in pre-Series A round

To reduce the stress of the driver, the firm also reduces the financial burden of vehicle ownership by overseeing all vehicle maintenance on borrowed vehicle ownership. BluSmart's business strategy addresses several key challenges to urban EV ride-hailing adoption, ranging from driver costs to consumer satisfaction. 

BluSmart aims to revolutionize ride hailing in India with the country's largest EV charging infrastructure and growing fleet of electric vehicles. The company is expanding rapidly in Delhi NCR, which accounts for 20% of India's mobility market, and BlueSmart estimates that it has already saved 1,500 tons of CO2 by completing more than 650,000 passenger trips.

5. Charzer: 

In the middle of last year, the grocery charger was first developed by the startup. They unveiled the Grocery Charger in February 2020 at MOVE, a worldwide forum for major companies in the transport industry in London, after months of research and prototype development. 

FAE Bikes To Convert Kirana Stores Into EV Charging Points

Grocery Charger is a 3.3 kW charging station. which will be provided to small business owners.This current depends on the battery technology. Two wheelers and three wheelers will take 2.5 to 3 hours to charge up to 100%. 

On the other hand, according to the study, they should charge their automobiles for 45 to 50 minutes instead of 3 hours. 

6. Volttic: 

At the same time, according to the study, they should charge their vehicles for 45 to 50 minutes instead of 3 hours. Voltik was built in 2016, but started operations in 2019 with the announcement of the FAME II program by the government. 

According to Varun Chaturvedi, Founder and CEO, Voltik Electric Vehicle Charging Solutions, the company will focus on all capital cities across states and metro cities in the first two to three years, before moving to Tier II cities in the next phase.  

There is no longer enough demand for charging stations. “People await improvements in charging infrastructure, while EV charging solution suppliers await increased demand for EVs.” As the demand for electric vehicles increases, so will the number of charging stations in cities, roads and metros. 

7. Ola Electric:

Ola Electric Mobility is an electric two-wheeler manufacturer based in Bangalore, India. Its manufacturing unit is in Krishnagiri in the state of Tamil Nadu, India. Ola Electric Mobility was established in 2017 as a wholly owned subsidiary of ANI Technologies, the parent company of Ola Cabs. 

Ola Electric received $250 million in Series B funding from SoftBank in July 2019, valuing the company at over $1 billion. On May 27, 2020, Ola Electric announced the acquisition of Etergo, an electric scooter startup based in Amsterdam, with plans to launch its line of electric scooters in 2020. 

8. Amara Raja Batteries: 

Amara Raja Automotive Batteries is specialized in Passenger Vehicles, Three Wheelers, Two Wheelers, Commercial Vehicles, Agriculture Vehicles, and Domestic/UPS Inverters. ARBL was the first business in India to produce valve-regulated lead-acid (VRLA) batteries. 

Amara Raja Automotive Batteries are built to the highest standards in the industry. Amaron, the flagship brand of Amara Raja Batteries, is known for zero maintenance, extended warranty, high cranking power and superior safety. 

9. Ultraviolette: 

Ultraviolette was an electric car company from Automotive Announced. And this manufacturing plant will be opened in Bangalore. This firm is located in Bangalore. Electronics City and spread over 70,000 square feet, expects to produce 15,000 electric motorcycles in its first year before rapidly expanding to an annual capacity of 120,000 units. 

The team plans to spend Rs 500 crore on the project. The company was launched in 2015 by Narayan Subramaniam and Neeraj Rajamohan with the goal of creating an "aspirational" superbike for the Indian market. Co-founder Narayan told about the latest transfer. "A robust supply chain ecosystem in and around the region supports the facility." 

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