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Smaller Indian EV Brands Accelerate Growth Amid Two-Wheeler Boom
Small electric-scooter companies in India are selling more vehicles than before.
Greaves Electric Mobility has already sold more scooters in 2026 than during all of 2025.
River Mobility, Bgauss Auto and Simple Energy have also reported strong sales.
India’s electric two-wheeler market reached a record 1.44 million registrations in 2026.
More products, wider service networks and lower ownership costs are encouraging people to choose electric vehicles.
Higher petrol prices are also helping this change.
The smaller companies are raising money to build more factories and improve their businesses.
However, five larger companies still control most of the market.
Greaves Electric Mobility has sold 66,069 electric scooters in 2026, exceeding its 2025 total of 57,699.
River Mobility, Bgauss Auto and Simple Energy also surpassed or approached their previous full-year sales in under nine months.
India recorded 1.44 million electric two-wheeler registrations in 2026, exceeding the 1.34 million record set in 2025.
Smaller manufacturers are raising funds to expand factories, launch products and strengthen operations.
TVS Motor, Bajaj Auto, Ather Energy, Hero MotoCorp and Ola Electric still account for 83% of India’s electric two-wheeler volumes.
- Who
- Greaves Electric Mobility, River Mobility, Bgauss Auto and Simple Energy, alongside larger manufacturers including TVS Motor, Bajaj Auto, Ather Energy, Hero MotoCorp and Ola Electric.
- What
- Smaller electric two-wheeler brands are reporting rapid sales growth and raising funds for capacity expansion.
- Where
- India.
- When
- During 2026, with the cited sales figures recorded in less than nine months of the year.
- Why
- Wider product choices, expanding service networks, falling ownership costs, rising fuel prices and moderated battery costs are supporting demand.
Smaller Entrants
Established Manufacturers
Market growth and competition
Smaller Entrants
Smaller brands are gaining sales quickly, expanding product offerings and raising capital to increase manufacturing capacity.
Established Manufacturers
Established manufacturers continue to dominate the market and have announced capacity expansions to meet demand.
Competitive advantage
Smaller Entrants
Newer companies are using fresh funding to build plants, launch products and improve margins, but the article notes they can struggle to sustain momentum beyond initial demand.
Established Manufacturers
Companies with established dealer networks and financing partnerships are seen as having advantages in customer retention and repeat purchases.
Key facts
- 2026 electric two-wheeler registrations
- 1.44 million so far, surpassing the 1.34 million recorded in 2025.
- Greaves Electric Mobility sales
- 66,069 units in 2026, compared with 57,699 units in all of 2025.
- River Mobility sales
- 35,250 units in 2026, more than double its previous-year sales according to the article.
- Bgauss Auto sales
- 32,101 units in 2026, compared with 25,131 units in all of the previous year.
- Simple Energy sales
- 11,000 units in 2026, compared with 6,628 units in 2025.
- River Mobility funding
- The company raised $120 million in a Series C round led by Elev8 Venture Partners and Claypond Capital.
- Market concentration
- TVS Motor, Bajaj Auto, Ather Energy, Hero MotoCorp and Ola Electric account for 83% of India’s electric two-wheeler volumes.
Quotes
Poonam Upadhyay
Director at Crisil Ratings
“Manufacturers with established dealer networks and financing partnerships enjoy a clear advantage in customer retention and repeat purchases”
financialexpress.com
“Product availability has also expanded across price points, offering consumers a wider range of options than in the market’s early years”
financialexpress.com
Sources
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