India’s electric vehicle (EV) two-wheeler market is witnessing unprecedented growth, driven by government incentives, supportive policies, and the increasing demand for sustainable mobility. Amid this revolution, Pune-based startup EMotorad has emerged as a key player, achieving a top-five position in EV two-wheeler unit sales in October 2024, alongside established industry leaders and disruptive startups.
Redefining Mobility with E-Cycles
EMotorad, renowned for its e-cycles, has leveraged the growing demand for micro-mobility solutions, particularly in Tier 1 cities, to position itself as a viable alternative to traditional ICE two-wheelers. Sandeep Sinha, Business Head at EMotorad, highlighted this shift:
“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 mobility alternative. Domestic sales are growing at a double-digit rate, reflecting a robust demand for innovative solutions.”
Globally, the electric bicycle market is projected to grow from $18.58 billion in 2021 to $52.36 billion by 2028, with a CAGR of 16%.
A Story of Remarkable Growth
EMotorad’s journey from a startup to an industry leader is marked by milestones:
- Gigafactory Initiative: The launch of their gigafactory’s phase 1 has enabled in-house component manufacturing, improving production efficiency and scalability.
- Exponential Sales Growth: In H1 FY25, EMotorad’s domestic sales exceeded its total India sales for FY24, marking a 40X growth since 2020 and a 370% YoY growth.
- Market Share Leadership: The company commands a 75% market share in India’s e-cycle segment, underscoring its dominance in the niche market.
Kunal Gupta, Co-founder & CEO of EMotorad, shared his vision:
“Standing among India’s top five EV 2-wheeler brands is a testament to our commitment to innovation and dedication. Our focus is to expand the EV market with solutions that are sustainable for consumers, their pockets, and the planet. In 2025, we aim to introduce new products, foster innovation, and strengthen our global presence.”
Transforming India’s EV Market
EMotorad’s success aligns with India’s broader push for sustainable mobility. With government support and growing consumer awareness of climate change, the EV 2-wheeler market is poised for further expansion. EMotorad’s blend of affordability, innovation, and sustainability positions it as a leader in both the domestic and international markets.
As the company continues its growth trajectory, EMotorad is not just redefining e-cycles but also shaping the future of electric mobility in India and beyond.
