EV STARTUPS IN INDIA

Electric vehicles have been gaining momentum in recent years, and the most prominent electric vehicles startups in India in 2022 are poised to take advantage of this trend. These companies are focused on developing and manufacturing electric vehicles and are looking to impact the Indian market significantly.

The list of the electric vehicles startups In India in 2022 includes Mahindra Reva Electric Vehicles, Mahindra & Mahindra Group’s electric vehicle arm, Renault-Nissan-Mitsubishi Alliance’s Tesla-influenced all-electric producer Renault EZ-Link, and Tata Motors’ NanoCar.

These companies are focused on making electric vehicles more affordable and accessible, and they are all looking to make a meaningful impact in the Indian market. The large population of Indians looking for environmentally friendly transportation options will be excited to see the impact these companies have on the market.

According to Statista estimates, the present market valuation of the Indian EV Industry is US$2.8 billion and is expected to reach US$10.4 billion by 2025. 

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BLUSmart

Location: Gurugram
Establishment Year: 2019
Founders: Anmol Singh Jaggi, Punit K Goyal

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Revolt Motors

Location: Gurgaon
Establishment Year: 2017
Founders: Rahul Sharma

3EV Industries

Location: Bangalore, Karnataka
Establishment Year: 2019
Founders: Peter Hartmut Voelkner and Suman K. Mishra

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OLA Electric

Location: Bengaluru, Karnataka, India
Establishment Year: 2017
Founders: Bhavish Aggarwal

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Chargeup

Location: New Delhi
Establishment Year: 2019
Founders: Varun Goenka and Ankur Madan

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Altigreen Propulsion Labs

Location: Bengaluru, India
Establishment Year: 2013
Founders: Amitabh Saran and Shalendra Gupta

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AMO Mobility

Location: Noida, India
Establishment Year: 2018
Founders: Sushant Kumar

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Ather Energy

Location: Bengaluru
Establishment Year: 2013
Founders: Tarun Mehta, Swapnil Jain

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Baaz Bikes

Location: New Delhi
Establishment Year: 2019
Founders: Karan Singla, Abhijeet Saxena, and Shubham Srivastava

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Battery Smart

Location: New Delhi
Establishment Year: 2019
Founders: Pulkit Khurana and Siddharth Sikka

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BGauss

Location: Mumbai, India
Establishment Year: 2020
Founders: Hemant Kabra

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Bolt.Earth

Location: Bengaluru, India
Establishment Year: 2017
Founders: Jyotiranjan Harichandan and Mohit Yadav

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Cell Propulsion

Location: Bengaluru, India
Establishment Year: 2017
Founders: Nakul Kukar, Paras Kaushal, Supratim Naskar

CHARGE+ZONE

Location: Gujarat, India
Establishment Year: 2018
Founders: Kartikey Hariyani and Pavan Bakeri

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Corrit Electric

Location: Noida, Uttar Pradesh
Establishment Year: 2020
Founders: Mayur Misra

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ElectricPe

Location: Bengaluru, Karnataka
Establishment Year: 2021
Founders: Avinash Sharma, Raghav Rohila

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Emflux Motors

Location: Bengaluru, Karnataka
Establishment Year: 2016
Founders: Ankit Khatry, Varun Mittal, Vinay Raj Somashekar

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EMO Energy

Location: Bengaluru, Karnataka
Establishment Year: 2022
Founders: Sheetanshu Tyagi and Rahul Patel

EMotorad

Location: Pune, Maharashtra
Establishment Year: 2020
Founders: Rajib Gangopadhyay, Kunal Gupta, Aditya Oza, Sumedh Battewar

ETrio

Location: Hyderabad Telangana
Establishment Year: 2016
Founders: Sathya Yalamanchili, Deepak M V 

Euler Motors

Location: New Delhi, Delhi
Establishment Year: 2018
Founders: Saurav Kumar

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EVage

Location: Chandigarh, India
Establishment Year: 2014
Founders: Inderveer Singh, Pulkit Srivastava, Harnoor Kaur

Grinntech

Location: Chennai, Tamil Nadu
Establishment Year: 2013
Founders: Nikhilesh Mishra, Puneet Jain

Kabira Mobility

Location: Goa
Establishment Year: 2019
Founders: Jaibir Siwach, Akash Siwach, and Sagar Siwach

goEgoNetwork

Location: Pune, Maharashtra
Establishment Year: 2021
Founders: Sayantan Chakraborti, Dheeman Kadam, Pravin Kumar 

Who is leading the EV industry in India?

Tata Motors is leading the electric vehicle race in India. The company is expected to enjoy an 80 per cent market share in the electric vehicle segment by 2021.

Leading players include Mahindra Electric, Tata Motors, and Volkswagen Group India. These companies are working hard to build the infrastructure needed for the EV industry to take off, and they are making progress. For example, Tata Motors has announced plans to produce electric cars in India by 2020. Additionally, Volkswagen Group India is investing $1 billion in electric vehicles and batteries over the next five years.

What is the scope for startups on EV in India in the next ten years?

The electric vehicles (EV) industry is poised for massive growth in India over the next 10 years. The country is currently the world’s third-largest market for electric vehicles, and the number is projected to grow exponentially. This is due to several factors, including government initiatives to reduce pollution, increasing awareness about the benefits of electric vehicles, and the increasing affordability of EVs.

According to a study by PwC, the market of EV startups in India is expected to grow from US$2.5 billion in 2020 to US$11.8 billion by 2030. This growth will be driven by the demand from the transportation and infrastructure sectors and the consumer segment. The transportation sector is expected to account for over 50% of the overall EV market in India by 2030. The consumer segment will be primarily driven by the adoption of EVs for personal use.

How are all EV startups expected to lead the EV industry in the future?

All Indian EV startups are focused on creating innovative and sustainable products that address these concerns. They also strive to create a better customer experience by offering enhanced mobility and security. In addition to this, many focus on developing the ecosystem around EVs by encouraging charging infrastructure development, promoting electric vehicle usage, and fostering research and development in the sector.

Indian EV startups are making significant progress in their efforts to lead the way in the future of the EV industry. It is a virtue to keep an eye on their developments to see which ones will be the most successful!

What are the latest developments in the Indian EV industry?

The EV startup companies are overgrowing, and there are many exciting developments in the works. The most notable include the launch of the Renault Zoe in India and establishing the TATA Motors EV unit.

The list of Indian EV startups is booming, and there are plenty of reasons. The government has set a target of owning a million electric vehicles on the road by 2022, and the industry is already responding in full force.

One of the biggest reasons for this is the falling cost of electric vehicles. The average price of electric vehicles has fallen by 50% in the past two years, and this trend is only expected to continue. This is good news for both businesses and consumers, making electric vehicles more accessible and affordable. Furthermore, the government has introduced several incentives and support schemes to help promote the purchase and use of electric vehicles. These include tax breaks, subsidies, and even free parking spaces.

What opportunities do entrepreneurs have in the EV industry?

EV startups can develop new technology, build new businesses, or create new services to help make the buying and ownership of electric vehicles easier and more convenient.

Some of the most popular opportunities for startups in the Electric vehicles industry include the development of charging infrastructure, electric vehicles, electric vehicle services, and the development of green infrastructure.

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