The electric vehicle (EV) two-wheeler market in India is witnessing rapid growth, driven by government incentives, manufacturer-supportive schemes, and an increasing demand for alternative mobility solutions. Both established brands and emerging players are capitalizing on this trend, with Pune-based startup EMotorad making significant strides in the sector.
Sandeep Sinha, Business Head at EMotorad, discussed the shift in consumer preferences: “India has long been a dominant market for traditional two-wheelers, but with the growing focus on sustainability, climate change, and EV adoption, consumers are increasingly turning to e-cycles as a practical alternative for mobility. In Tier 1 cities, demand for e-cycles is expanding, with domestic sales rising at a double-digit annual growth rate compared to previous years.”
Globally, the electric bicycle market is expected to grow from $18.58 billion in 2021 to $52.36 billion by 2028, reflecting a CAGR of 16%.
As the EV market heats up, EMotorad has carved a niche for itself, positioning its e-cycles as alternatives to traditional internal combustion engine (ICE) two-wheelers. The company has also expanded its operations with the launch of its gigafactory, which began manufacturing components in-house earlier this year.
In October 2024, EMotorad ranked among India’s top five EV two-wheeler brands in terms of unit sales, joining the ranks of both established giants and innovative startups. This milestone comes amid a period of significant growth for the company. In H1 FY25, EMotorad’s domestic sales surpassed its total sales for FY24, reflecting a 40X growth since 2020 and a 370% year-on-year growth in the current year.
Kunal Gupta, Co-founder & CEO of EMotorad, emphasized the company’s continued growth: “Standing among India’s top five EV two-wheeler brands is a testament to our commitment to innovation. Our focus is on expanding the EV market and offering sustainable mobility solutions that are affordable for consumers and beneficial for the planet. Our milestone in October 2024 marks a key moment for the company, and in 2025, we aim to introduce new products, further innovation, and expand our global distribution.”
EMotorad’s innovative approach has not only allowed it to dominate the domestic e-cycle market, holding a 75% market share, but also to expand internationally through exports. As the government seeks alternatives to ICE two-wheelers, EMotorad’s success underscores the growing adoption of EV two-wheelers as a sustainable transportation solution in India.
