Top 10 Electric Vehicle Companies in India (Updated 2024)

India is on its way to creating an ecological future and hopes to have a clean and green future. Moreover, there are many strategies to achieve this goal, with one of them being the expansion of electric vehicle companies in India. This move will contribute to decreasing the pollution caused by traditional vehicles. Besides, some studies also predict that 30% of the vehicles in India will be electric by 2030. We have compiled a list of the top 10 electric vehicle companies in India for you. Without any further ado, have a look at the list.

1. Tata Motors

Tata Motors is one of the first EV manufacturers in India. The company was quick to determine the benefits of electronic vehicles and stands ahead of its competitors by being the first to try them. Tata’s Tigor EV was their first model, but it came at a high cost in 2019. In February 2022, this particular car contributed to 95 percent of the total electric car sales in India. The Ziptron technology used by this electric car company in India is one of the main factors behind its smooth performance. Additionally, it also gives Tata the option to develop EV versions of its popular ice vehicles, such as Tigor and Nexon. The electronic vehicle models of the company include the TATA Nexon EV Max, TATA Nexon EV, TATA Tigor EV, and TATA Tiago EV.

2. Mahindra Electric

Mahindra Electric Mobility Limited is an electronic vehicle manufacturer for the Mahindra Group. The company manufactures a wide range of vehicles for different purposes. Similar to Tata Motors, Mahindra Electric has also been in the market for a long time. They had realized the need for electric vehicles and took the necessary action, for example, by launching one of the world’s first electric cars, the Mahindra Reva, in 2011. The car was sold internationally in countries like Germany, France, and the United Kingdom. Currently, Mahindra electric vehicles in India include the Mahindra eVerito, Mahindra e2o Plus, Mahindra eSupro, Mahindra Treo, and Mahindra E-Alfa Mini.

3. Hyundai

Hyundai came onto the list of electric vehicle manufacturers in 2019 after launching its Kona SUV. Hence, it became the first international brand to launch an electric car in the Indian market, despite it not being prevalent. Furthermore, after conducting a careful assessment of the Indian electric vehicle industry, Hyundai is expected to launch six new electric cars in India by 2028 with different price ranges. Reportedly, Kia Motors and Hyundai will collectively target a larger audience globally. As of now, only the Hyundai IONIQ 5 and Hyundai Kona Electric are available in India.

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4. Morris Garage

The London-based company Morris Garage has about 10 percent of the market share in India. This data is impressive, and due to this demand, MG plans to widen its models in India. The company also plans to compete against Tata’s budget-friendly Tiago EV by bringing out more of its electric cars in the country. Currently, the MG Comet EV and MG ZS EV are available in India for sale.

5. Ather Energy

Ather Energy is the company that launched the country’s first smart electric vehicle. Their scooters had some never-seen features, such as a touchscreen interface, profiles, and an app to manage the settings of the scooter. The company, founded in 2013, has managed to gain investments from companies like Hero Motocorp over the last few years. Additionally, its scooters also have features like reverse assist, Bluetooth connectivity, and monthly stats of rides. The Ather Energy EVs in India include the Ather 450x Gen 3, the Ather 450x, and the Ather 450 Plus. 

6. Ola Electric

Ola Electrics Mobility is a division of Ola Cabs, with its electric two-wheelers being manufactured in Tamil Nadu. In addition, Ola expects to become the world’s largest two-wheeler manufacturing company in the near future. The company has Ola S1 Air, Ola S1, and Ola S1 Pro in the Indian market. Moreover, its S1 and S1 pro-two-wheelers have gained popularity because of features such as a charging port and keyless ignition. These two scooters also provide higher performances than others.

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7. Hero Electric

Hero Electric is one of the most popular and largest electronic two-wheeler sellers in India. The brand has continuously proven itself trustworthy and reliable for the last 14 years. Due to the increasing use and awareness of electric vehicles and their need among Indians, Hero Electric sells thousands of electric two-wheelers and increases its sales exponentially. Hero also aims to manufacture over 1 million electric vehicles by 2025. As of now, it has around 2000 charging stations, and it aims to expand it. The expansion will make it easier for users to charge their two-wheelers whenever they want. Hero’s models in India include Hero Eddy, Hero Electric Photon HX, Hero Electric NYX HX, Hero Electric Optima LX, Hero Electric Flash LX, Hero Electric Atria LX, and Velocity.

8. TVS

TVS is one of the best electronic vehicle companies in India. It also comes under the list of companies that assessed the trend of electronic vehicles and launched the iQube scooter in 2020. This e-scooter received popularity among customers, and TVS launched the model with better range and performance. The sales of TVS scooters could reach up to 1,50,000 units, which would help TVS gain more popularity. The TVS e-scooters include the TVS iQube, TVS iQube S, and TVS iQube ST.

9. Ampere EV

Ampere Vehicles was founded in 2008 and initially produces vehicles for the specially-abled on a government contract basis. Since then, it has received many investments from many companies, for example, the Tata Group. Besides, the sales of Ampere EVs are constantly increasing and improving for the better. The list of Ampere EVs in India includes the Ampere Magnus EX, Ampere Magnus, Ampere Zeal EX, and Ampere Reo Plus.

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10. Okinawa

This is one of the most popular brands among youth customers in the country. The company, founded in 2015, manufactures e-scooters with a sports appearance. Okinawa Scooters Company is based in Gurugram, and the vehicles are manufactured in Rajasthan in the city of Bhiwadi. Also, it was successful in gaining a large market share because of the options in different price ranges. The names of Okinawa EVs in India are Okinawa Dual, Okinawa Okhi-90, Okinawa Lite, Okinawa iPraise+, Okinawa PraisePro, Okinawa Ridge+, and Okinawa R30.

Conclusion

These were the top 10 electric vehicle companies in India till now; however, we believe that the competition will grow further, and more companies will be worth adding to the list. Moreover, talking about employment, the Ministry of Skill Development and Entrepreneurship also predicts that India might generate up to 1 crore direct and indirect jobs from EV companies in India.