While it is true that Elon Musk and Tesla started the global drive towards electrified personal vehicles, many players have come into the fray since then. India is a typical example of this fast growth. While Tesla has not ventured into the Indian market so far, most other automotive majors have already begun offering their electric vehicles, and a host of new entrants who are fueling the charge towards electric mobility in India. Wondering who’s doing it?Now, let’s focus on the list of the top 5 electric vehicle companies in India in the year 2024.
Overview
Brief history and entry into the EV market:
Tata Motors Ltd is one of India’s leading automobile manufacturers with its origin way back in 1945. Although Tata Motors began its journey by producing commercial vehicles, the company later entered the passenger vehicle segment and now is an important contender in the automobile arena of the country.
This marked as one of the company’s strategic directions towards the focus on sustainability and development of new products, particularly electric vehicles or EVs. The need for environmental friendly vehicles began to emerge and hence in the year 2019, Tata Motors launched its first electrical vehicle called Tigor EV.
This was being done in line with the overall corporate strategy of shifting increase use of green mobility and decrease in carbon per mile.
Key Models
Popular EV models like the Tata Nexon EV:
Tata Motors has embarked on producing electric cars as seen in the model the Tata Nexon EV. The Nexon EV was launched in the year 2020 and it became one of the most selling electric cars in India because of the factors like the reasonable price range, strong performance and fitting the modern world.
Moreover, Nexon EV is powered with a battery that has the facility to give it a range of up to 312 kilometers, which can actually be useful for people mainly commuting within city limits. Other models are the Tigor EV, and the new Tata Tiago EV is joining Tata’s electric car fleet.
Future Prospects
Upcoming models and future plans:
Many plans on the future of EV are contained at Tata Motors and some of them include the following.
The company wants to enter into 2025 with 10 new electric vehicles ranging from low priced hatchback to the luxurous SUV segment. Future car launches are the Tata Altroz electric and a mid-size SUV stemming from the Tata Curvv concept.
Tata Motors is also focusing on battery fundamentals and looking forward to partnering with battery majors to get a longer range and better efficiency. Being a sustainable growth planer, Tata Motors now ready to be the leader of the electric mobility market in India.
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2: Mahindra Electric
Overview
Introduction to Mahindra’s journey in the EV sector:
Mahindra Electric is a part of the Mahindra & Mahindra group and is considered a leader in the Indian Electric Vehicle (EV) market.
Mahindra Electric was founded in year 2010 and has been one of the pioneers for electric vehicles in India. The company started its journey with the group of Reva Electric Car Company thereby the first electric car Mahindra e2o came into operation.
The vision of Mahindra Electric Mobility as a global manufacturer of EVs for mass use is therefore according to the statement a noble one. Ever since Mahindra Electric has entered into the market, it has a fairly good variety of models in the automobile sector ranging from cars to three-wheelers to light commercials.
Key Models
Highlight key models such as the Mahindra eVerito:
The Mahindra eVerito is perhaps the most prominent model of Mahindra Electric as it is an all-electric sedan which is derived from the company’s Verito sedan.
The eVerito has an overall kilometers per charge of approximately 140 km which is ideal for city use. They appreciated accessible interior space, environmental friendliness, and, lastly, minimum expenses on car operation, which is satisfactory for both individuals and companies ordering fleets.
Another model of interest is the Mahindra e2o Plus which is a city car, with very good features suitable for use in urban environments. Mahindra Electric also offers electric three-wheelers such as the Treo which is commonly used in the first and last-mile transportation category.
Future Prospects
Innovations and future launches:
Mahindra Electric delivers innovations for the future of electric mobility and aims at a strategic growth constantly.
Currently, the company is also focused on improving battery technologies in order to create longer range and higher efficiency of the electric vehicles. Future models are eVerito improved models and new versions with better charecteristics and longer battery capacity.
3: Hero Electric
Overview
History and evolution in the EV space:
Hero Electric is a first-generation electric two-wheeler player in India and is a part of the Hero Eco Group. With its operation beginning in 2007, Hero electric has been steadfast in addressing issues to do with sustainable means of transport.
Since then the company has expanded itself and today it is one of the prominent electric two-wheeler makers in India. The conception of Hero Electric was initiated with the launch of its first electric scooter and currently, the company has garnered the presence with upgraded and diversified portfolios.
Key Models
Popular models like the Hero Electric Optima:
Hero Electric brings a variety of scooters, and some of the widely used scooter is the Hero Electric Optima. The Optima has its reputation in its usage, cost, and fuel consumption, which makes it a favorite among city drivers.
It is small and portable which increases its maneuverability, the seats are relatively comfortable and it has somewhat of a fair range between charges. Other models by the company include the Hero Electric Nyx of scootering, Hero Flash of commuter motorcycles, and Hero Photon of mileage centric bikes.
Future Prospects
Plans for expanding the EV lineup:
Currently Hero Electric has planned to add many new variants to its electric two-wheeler portfolio in the later years. For the models the company has plan of to release new models with enhanced features, increased range and better battery systems.
The firm is also collaborating with its suppliers to work towards improvement of its models and designs in the two areas of performance and efficiency. Also, the company wants to increase their capacity of manufacturing and fortify the charging stations for electric two-wheelers due to the increased requirement.
4: Ather Energy
Overview
Background of Ather Energy and its founders:
Ather Energy is one of the many EV startups in India and takes a unique approach by establishing themselves as an automotive OEM (Original Equipment Manufacturer) while setting their own benchmark with innovative offerings.
Based out of Bangalore, the company has been able to create a niche for itself with its technology-first and futuristic approach. Ather Energy is a key contributor to Ather 450, India’s first truly intelligent electric scooter that has witnessed widespread acceptance among customers and the industry.
It comes as no surprise then that our next product was met with an equal amount of excitement from people across the country. Backed by well-known investors like Hero MotoCorp & Tiger Global Management, Ather recently raised its last round at nearly INR 700 Crores (USD100 million)+”. Ather Energy’s success in the fiercely competitive EV market has been fuelled by its founders’ vision and ambition to set benchmarks for a great riding experience.
Key Models
Notable models such as the Ather 450X:
The Ather 450X is the performance-focused flagship model in manufacturer’s stable. The Ather 450 a.k.a the new 450X is one such electric scooter that has been pretty famous in terms of its futuristic design, top-spec features and powerful performance.
This electric vehicle offers a range of and up to 146 km on a single charge, thanks in part to its powerful 3.7 kWh battery – the largest among any scooter-class two-wheelers in India! Its scooters come with a 7-inch touch screen dashboard, inbuilt navigation and over-the-air updates as well as fast charging so two minutes of charge should provide enough juice for five kilometers.
Future Prospects
Innovations and plans for growth:
With its innovative products and comprehensive expansion plans, Ather Energy is gunning for a landmark growth. The company is also expanding manufacturing capacity, investing in R&D for advanced battery technology and continuing to address the supply chain bottleneck associated with growing demand. Ather Energy is also working on introducing new vehicles with more features and longer range, appealing to a wider market.
Physical experience centres, and new Ather Grid public charging stations across the cities are part of this expansion. Ather Energy has a strong brand image, innovative approach and commitment towards sustainability which aligns well for it to emerge as one of the fromerunners in Electric Vehicle segment emerging in India.
5: Ola Electric
Overview
Introduction to Ola Electric’s entry into the EV market:
India-based ride hailing giant Ola marked its presence in the electric vehicle (EV) segment by launching an EV division — Ola Electric pay and disrupted urban mobility system across similar lines. Ola Electric was launched in 2017 and is currently focused on creating a sustainable and affordable mobility ecosystem from electric ride-hailing to large-scale EV manufacturing.
The Ola S1, the first electric scooter by the company was launched in August 2021 leaving its footprint into EV industry. Raising the bar for electric mobility options, Ola Electric will change how daily use cases contribute to pollution and urban congestion, available noiselessly.
Key Models
Key products like the Ola S1 Pro:
It is the Ola S1 Pro that brings a something new to the table for this product from Ola Electric. The electric scooter features a high performance with last-mile connectivity, and it has a 181 km rang on single charge as well as top speed of up to 115 km/h.
It is fitted with an advanced battery (3.97 kWh), mobile-enabled keyless entry fortified by other design controls like touch-screen display measuring7-inch and various riding modes Reverse mode hill-hold assist is standard on the Pro, and being fully kitted out with connected-car features makes this a very practical machine for city riders.
Future Prospects
Expansion plans and future developments:
Ola Electric has lofty ambitions for the future, when it comes to growth and expansion. The business is pumping large quantities of money into building out production at the upcoming Ola Futurefactory, which will be one of the biggest electric two-wheeler factories worldwide. Ola Electric plans to launch new models with more features and longer ranges targeting a broader spectrum of buyers.
In addition, the company has shown interest in potentially entering into electric cars as well indicating that it may plan to be a significant player with even broader EV plans.
Conclusion
Several companies in India are driving the growth of Indian electric vehicle (EV) market towards a sustainable future. Tata’s Nexon EV is setting the pace thanks to its fresh formula and massive reach of solid line up by Tata Motors. Mahindra Electric has been at the job for quite some time, and with multiple products such as this eVerito in its stable, it just goes to show how much life there is left in Indian EV models.
Making the most of this boon is Hero Electric, an early entrant into electric two-wheelers – it’s got a strong hold on urban commute with number one-selling models like the Optima.
Ather Energy, on the other hand, had something more fastidious in mind with their best-in-class techno-enthusiast scooters like 450X and was always high spirited at keeping everything top-notch! But Ola Electric, one of the latest but most promising entrants to this bold market is turning it all around with its ambitious strategies and high-tech scooters such as the S1 Pro.
