As India pursues a greener future, the automotive industry has moved towards electric vehicles (EVs). Due to this shift, several Indian EV startups are advancing sustainable transportation. These startups make affordable, efficient EVs with AI, ML, and IoT. India is investing in electric bike and bus startups. In this post, We’ll talk about the Top 20 Best Electric Vehicles (EV) Startups in India in 2024.
Global warming is the biggest challenge in today’s world, it is having a bad effect on human life, so every country is looking for a solution to this problem. While the government is working hard, companies and startups are also playing a big role in tackling this issue. Indian startups will play a key role in this as the country has the third largest number of startups in the world after the US and China.
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Vehicular pollution is one of the major causes of global warming. Taking advantage of the opportunity, several startups have come up to look into this void in the market, and they provide an economically viable option for those who want to go fully electric on their wheels. The Indian EV market has many small as well as large EV startups and is estimated to reach $15,397 billion by 2027.
EV Startup BLUSmart was founded in 2019 by Anmol Singh Jaggi and Puneet K Goyal. The Gurugram-based startup provides electric ride-hailing mobility services through its mobile-based app. BLUSmart partnered with Mahindra & Mahindra to launch the first batch of EVs on the platform. In September 2019, the company raised an angel round of US$3 million led by JITO Angel Network, the investment office of Deepika Padukone.
The company started intercity EV services from Delhi NCR to Jaipur and Chandigarh. It has also expanded EV services at Delhi IGI Airport. It is currently looking to expand its EV charging hubs in Delhi NCR and expand its fleet to over 5,000.
The Revolt RV400 is the first electric motorcycle in the nation with AI capabilities, and it has a look similar to the street naked motorcycles. Rahul Sharma, a co-founder of Micromax, founded the startup.
The best-selling e-bike models from Revolt Motors, the market leader in EV motorcycles in India, are the RV400 and RV300. These electric bicycles can travel 150 km on a single charge, have a top speed of 85 km/h, and take 4 hours to fully charge.
3EV Industries was established in 2019 in association with RUGGED Solar Products Pvt Ltd and ReBatt Limited. The Bengaluru-based startup was founded by Peter Hartmut Voelkner, and Suman K. Mishra.
3EV Industries has raised a total of $5.67 million in funding across 4 rounds. Their latest funding round was a seed round of $2.5M on July 18, 2022. The company provides last-mile hyper-local connectivity to customers across India. The startup aims to use renewable energy and off-grid power systems to optimize last-mile logistics. The startup is basically in line with the ‘Make in India’ ambition of the Government of India.
In 2017, Bhavish Agarwal founded Ola Electric Mobility. Ola Electric Mobility is a Bengaluru-based manufacturer of electric two-wheelers in India. Over 3000 robots are in use at the Ola Future factory, which has a production capacity of 10 million two-wheeler EVs annually.
The startup also provides Revolt Switch Station, app-based battery swapping stations where owners of EV bikes can swap their batteries for chargeable batteries.
Varun Goenka and Ankur Madan founded Chargeup in 2019. The enterprise is a pioneering fin-tech platform that uses the network of the finance-technology industry to improve the productivity and ease of life for drivers.
Additionally, the business provides battery-swapping options that operate smoothly at swapping stations.
Euler Motors is an Electric Vehicle (EV) start-up based in Delhi and was established in 2018. Euler Motors provides commercial electric mobility solutions through three-wheeler EVs, energy infrastructure, apps, and web-based software solutions.
The company claims that it can be charged in 15 minutes and once charged, it can cover a distance of 151 km. The company supplied over 250 three-wheeler EVs to various companies including Ecom Express, BigBasket, and Udaan.
Goldie Srivastava founded the Delhi-based startup in 2015. The startup offers commuters last-mile connectivity. Over ten Indian cities, including Faridabad, Noida, Gurugram, Delhi, Lucknow, Kolkata, Mumbai, and Bengaluru, the start-up operates electric vehicles.
17 businesses, including Kinetic Green, NTPC, SBI, HSIIDC, ACME, Sun Mobility, Exicom, and Amar Raja, have partnered with SmartE.
In 2019, the company was founded by Avinash Sharma and Raghav Rohilla. The Bengaluru-based startup provides charging infrastructure to customers. Through its app, EV owners can locate charging stations near them.
To ensure that EV drivers do not have to worry about running out of charge or being able to find a charging station nearby, ElectricPe is developing India’s largest Electric Vehicle (EV) Charging Platform in collaboration with thousands of independent charge point operators.
Rajeev Gangopadhyay, Kunal Gupta, Aditya Ojha, and Sumedh Batewar established a foundation for the establishment of the EMotorad (EM) in the year 2020.
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EMotorad (EM), an electric vehicle company with headquarters in Pune, is a startup that was founded to make the e-bike of the future accessible to people who are interested in going on adventures, commuting to work every day, or improving their overall health at a price they can afford.
It is a Bengaluru-based EV startup, founded in 2013 by IIT alumni Tarun Mehta and Swapnil Jain, and has also set up an EV charging grid at Ather Grid, Bengaluru. The company provides sustainable mobility and energy infrastructure solutions.
They are already making it big and are quite popular among the youth. The company is backed by multiple investors and e-commerce giants like Flipkart. The startup is offering 2 variants of the scooter – Ather 450X and Ather 450 Plus.
One of the giants in the electric solutions industry has created BGauss, a solution that improves lifestyle. Hemant Kabra founded the business in 2020. Sustainable mobility solutions are offered by the startup that RR Global is promoting. The EVs are produced by the start-up and are marketed both online and in physical stores. They are the BGauss B8 and BGauss A2.
Its website claims that it is present in more than 85 nations. Additionally, it has over 25K retail stores and 13 manufacturing facilities.
With a focus on the needs of the customer, as well as transparency, trust, and core values, BGauss aims to deliver high-quality, practical, and efficient products that are enhanced by technology and innovation.
A technology-driven mobility platform called Yulu enables seamless urban transportation using both public and private modes of transportation. Amit Gupta, RK Mishra, Hemant Gupta, and Naveen Dachuri founded Yulu in 2017.
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With 18,000 single-seater vehicles and 2.5 million users, Bengaluru-based startup Current provides its services in Bengaluru, Delhi, Gurugram, Mumbai, Pune, and Bhubaneswar.
They operate under a distinct business model; you cannot purchase their goods.
Bangalore-based Cell Propulsion is a provider of electric transportation. Supratim Naskar, Paras Kaushal, and Nakul Kukar founded the business in 2017. The start-up offers infrastructure for charging as well as sustainable mobility solutions. For use in commercial vehicles, the startup creates high-voltage powertrain technology.
In addition, it produces the Oryx Electric and Beluga Electric electric commercial vehicles. To enable a smooth transition to ECVs for our customers, the company develops zero-emission fully electric commercial vehicles and deploys them as a part of a larger fully managed eco-system.
Together in 2016, Narayana Subramaniam and Neeraj Rajmohan established Ultraviolette Automotive which bears their names. Customers have access to environmentally friendly mobility solutions and energy infrastructure from the Bengaluru-based startup company.
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In 2011, Pranav Singanapalli established Emote Electric which bears his name. It is an electric vehicle (EV) startup with headquarters in Coimbatore that aims to manufacture high-powered motorcycles.
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It is said to be India’s fastest electric bike, and it even has gears.
The New Delhi-based EV startup BaaZ Bikes was founded by Karan Singla, Abhijit Saxena, and Shubham Srivastava in 2019. Baaz is a mobility platform that helps gig workers to deliver efficiently with the minimal cost through its in-house designed affordable bikes.
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It helps gig workers earn money by using their electric scooters to make deliveries for companies like Zomato, Amazon, and Grofers. The EV startup’s scooters can cover a distance of 60 km on a single charge. It has also created battery swapping infrastructure in India.
In 2019, Battery Smart was founded by Pulkit Khurana and Siddharth Sikka. The New Delhi-based startup allows customers to swap EV batteries at its stations, called swap stations. It currently provides its services to e-rickshaw owners.
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The startup is building the largest network of battery swapping stations in India, providing Li-ion batteries to drivers of three-wheeler electric rickshaws on a pay-per-use basis through an asset-light network of their partner swap stations. The startup has 1200 active vehicles on its platform and handles 5,000 swaps daily.
Tork Motors is a newly founded company that manufactures high-performance electric vehicles as well as charging infrastructure.
It is an electric vehicle (EV) startup based in Pune that was established by Kapil Shelke. In September 2016, they presented India’s first electric motorcycle, which was called the Tork T6X.
Using 2, 3, and 4-wheelers for commercial use, Bengaluru-based startup AltiGreen is a pioneer in electric vehicle (EV) technology and solutions for last mile transportation (LMT).
Shailendra Gupta and Amitabh Saran founded the business in 2013. Ultigreen received INR 300 Cr ($40 Mn) in a Series A funding round headed by Sixth Sense Ventures in February 2022. The startup is active in 60 nations and holds 26 global patents. The technology from UltiGreen was especially created for the commercial and environmental conditions in India.
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The first area of focus for Altigreen is the US$6 billion market for cargo and passenger 3W auto-rickshaws. The business provides OEMs with both an EV drivetrain and a fully assembled vehicle.
In conclusion, Indian EV startups are revolutionizing the automotive industry to create a more sustainable future. They are making affordable, efficient electric vehicles for the Indian market with their innovative ideas and technologies. These startups have attracted investors and the government, which is promoting EV adoption. These startups are helping India lead the EV industry in a cleaner energy world. Sustainable transportation in India is bright with its determination and innovation.
This was our selection of the Top 20 Best Electric Vehicles (EV) Startups in India in 2024. We hope this is useful to you. The order of this list is random.
Frequently Asked Questions (FAQs)
Which are the Top 20 Best Electric Vehicles (EV) Startups in India in 2024?
BLUSmart, Revolt Motors, 3EV Industries, OLA Electric, Chargeup, Euler Moters, SmartE, ElectricPe, EMotorad, Ather Energy, BGauss, Yulu, Cell Propulsion, and Ultraviolette Automotive are the Top 20 Best Electric Vehicles (EV) Startups in India in 2024.
What types of electric vehicles do these startups offer?
These startups offer a range of electric vehicles, including electric scooters, bikes, three-wheelers, and bikes.
What is the future outlook for the EV startup industry in India?
The demand for environmentally friendly transportation is increasing, and the government is providing more government support for the sector, which bodes well for the future of the EV startup industry in India.