India’s electric vehicle (EV) two-wheeler market is expanding quickly due to government subsidies, manufacturer-support programs, and rising demand for alternate modes of transportation. With Pune-based startup EMotorad making notable progress in the industry, both well-known companies and up-and-coming firms are profiting from this trend.
The market for electric bicycles is predicted to expand at a compound annual growth rate (CAGR) of 16% from $18.58 billion in 2021 to $52.36 billion by 2028.
With its e-cycles positioned as alternatives to conventional internal combustion engine (ICE) two-wheelers, EMotorad has established a place for itself as the EV market heats up. With the opening of its gigafactory, which started producing parts internally earlier this year, the business has also increased the scope of its activities.
EMotorad reached the ranks of both well-known behemoths and creative startups when it placed among the top five EV two-wheeler companies in India in October 2024 based on unit sales. This milestone coincides with a time of substantial expansion for the business. Domestic sales for EMotorad exceeded total sales for FY24 in H1 FY25, indicating a 40X growth since 2020 and a 370% year-over-year rise in the present year.
In addition to controlling a 75% market share in the domestic e-cycle market, EMotorad’s creative strategy has enabled it to grow globally through exports. The success of EMotorad highlights the increasing use of EV two-wheelers as a sustainable transportation option in India as the government looks for alternatives to ICE two-wheelers.
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