Top 10 EV Startups in India 2020

                                                                           

BY   AFZAL YOUSAF

As electric vehicles are gaining popularity due to growing concerns regarding the global air pollution and rise in oil price, electric vehicles are considered a sustainable and affordable mobility solution. Many countries started to develop their own indigenous ev brands rather than depending on big manufacturers coming out with their electric automotive.

In India also,indigenous ev brands started to develop after 2013 as Indian government ramped up it effort to promote EV. Govt. introduced many schemes to promote EV to achieve a cleaner future. National electric mobility mission plan(NEMMP) was launched in 2013 by Indian government  to promote electric vehicle and to encourage reliable, affordable and efficient EVs that meet customer performance and price expectations. By this support of the govt. and looking at the market opportunities, startups in India foccused on making electric mobility. According to reports, in the last two years ie, in FY18 and FY19 around one million electric vehicles hit the road in India.

Here is the list of Top 10 EV Startups in India playing major role in EV revolution.

ATHER ENERGY

Founded in 2013 by two IIT Madras graduates Tarun Mehta and Swapnil Jain. The company is based on Bengaluru, and they have already launched two electric scooter models 340 and 450. Also thay are involved in charging infrastructure as Ather grid. They were able to attract lot of giant investors like Hero motocorp, Flipkart founders like sachin and binny bansal. Ather energy also raised funds from American and Singapore based companies. 

They launced their first product ie; smart electric scooter on 2016 february. In 2020, ather has become the face of the startups related to EV in India.

OLA ELECTRIC MOBILITY
Ola Electric mobility, Headquartered in Bangalore, is a product by Ola, one of the largest ride hailing companies in the world. Ola aims to produce more than 10,000 e rickshaws within one year. Ola Electric mobility is formed in 2017 may. They raised funds from giants like Ratan Tata, Pawan Munjal, Hyndai Motor company, Softbank, Tiger  Global etc. According to reports,they have raised around $56m in Seris A funding, $250m in Series B funding and around $14m in Corporate round.
As Ola already have a strong finance support, market support, it is believed that they will revolutionise the EV segment in India.

ULTRAVIOLETTE

Bangalore based company was formed by Niraj Rajmohan and Narayan Subramaniam in 2015. In 2018, TVS Motors picked up a 15 percent stake in the company. Recently in november 2019, they launced their first model named as F77. It can accelerate from 0 to 60 kmph in 2.9 seconds. Company is offering a range of 150 km on single charge and Top speed is around 140kmph. Sooner in coming years, they will be expanding to different parts of India.

TORK MOTORS

This Pune based electric vehicle startup was founded  on 2010 by Kapil Shelke. This startups launced India's first electric motorcycle on september 2016.  Flagship product of tork motors is the Tork T6X. It has all modern features and smart technology. Tork motors has been able to raise funds from the co-founders of Ola Bavish Aggarwal and Ankit Bhati. Also, Bharat forge invested around 30 cr in the first half of 2018. Currently Tork motors have Production and R&D facility in pune.

YULU

It is a Bangalore based startup founded on 2017 by Mr. Amit Gupta. It is a bike sharing platform aims to reduce the traffic problems using modern ideas and platforms. At present, this company is present in major cities like Bangalore, Pune, Mumbai etc. By the end of 2019, this company raise around 8 million dollar in its series A funding led by an Bajaj auto finance. They are planning to build around 1 lakh Yulu miracle model by the end of 2020.

EMFLUX MOTORS

Emflux motor is a Bangalore based ev startup founded in 2016 by IIT Delhi graduates Varun Mittal, along with Ankit katry and Vinay Raj Somashekar. Emflux has raised more than $50,000 as investment and are looking to produce 10 million electric two wheelers within next 10 year. Their upcoming two wheeler model is Emflux one, which they unveiled in 2018 Auto expo. 

This electric sports bike can acheive 0 to 100 kmph in 3 seconds with a top speed of 200 kmph, according to top Indian auto journalists.

REVOLT MOTORS

Revolt motors is founded by Micromax co-founder Rahul Sharma. According to reports, Rahul has invested around 500 cr from his personal investment to dominate the ev and motorcycle segment of India. They unveiled their first models on april 2019, naming RV 400 and RV 300.

Revolt retails new models RV 400 and RV 300 for Rs 3,999 and 2,999 per month respectively. These model has features like, real time bike diagnosis, fully digital display, Bluetooth connectivity etc. Revolt has manufacturing facility in Manesar with a production capacity of more than 1 lakh.

AMPERE VEHICLES

Ampere vehicles is a Coimbatore based ev startup founded by Hemalatha Annamalai in 2008. They manufacture different types of EVs including  electric cycles, scooters and Three wheelers.  It was reported that in 2018, Greaves cotton is set to acquire more than 60 percent stake of the company for 77cr. Earlier in 2016, Ampere vehicles raised an undisclosed amount from the co-founder of Infosys Kris Gopalakrishnan.

BATTRE
Battre is a Jaipur based ev startup founded by Nishal Choudary in 2017. They aims to create Cycles,Scooters that fits the cuty lifestyles and tackle the issues due to the use of fossil fuels. Company began its operation in South parts of India. Maharashtra in back 2019 June. They are trying to expand their operation to more states in 2020. Their main models are Battre One, Battre LO, Battre IOT etc and around 50 dealers all over India.

OKINAWA

Okinawa is a Gurugram based EV startup formed by Jeetendar Sharma and Rupali sharma in 2015. As company claims to be a 100% Indian startup and has a manufacturing facility in Alwar Rajasthan.

Their main products are I praise, Praisepro, Ridge+, etc and received FAMEII certificates for these products,according to reports. They have a target to sell one lakh vehicles all over India.


All the above List and Information are best of my Knowledge and based on my research. It may have some changes accordingly.

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