Electric vehicle (EV) ecosystem in India continues to be at a very nascent stage. However, the central government has already announced the second phase of its ambitious FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles) policy and aims to step up EV adoption in the country across segments.
According to Niti Aayog, the Indian EV industry can add around $300 bn by 2030 cumulatively while accelerating the adoption of electric cars, electric scooters and electric motorcycles as well as electric buses in the country. Here is a list of top 10 EV manufacturers in the country:
1. Hero Electric
Hero Electric, a part of Hero Group, has already rolled out more than a dozen electric vehicles in the country. The company has been among the front runners in the electric vehicle segment and has electric two wheelers as well as electric three wheelers. Across its ER series, E2 series and E5 series, Hero electric rolls out a range of Optima, Nyx, Flash and Photon electric scooters.
2. Tata Motors
Tata Motors has lately unveiled the Nexon in electric version as well that has been introduced with ZIPTRON technology. The company will launch the Nexon EV in a price bracket of Rs 15-17 lakhs and will target range of 300 km to address range anxiety issues often related to EVs in the country. It has also supplied Tata Tigor in electric version to Energy Efficiency Services Limited (EESL).
3. Ather Energy
Ather Energy launched its Ather 450 & Ather 340 electric scooter Models in India last year that have been primarily designed for city usage. The company claims that both the electric scooters have been designed to address various problems in EV two-wheeler segment such as slow charging, low powered motors as well as shorter battery life. Ather Energy is also offering Ather One plan that includes free access to public and home charging, breakdown assistance as well as unlimited data service among others.
4. Mahindra Electric
Mahindra spearheaded the electric vehicle revolution in the country with its very first and much famous Reva electric car. Over the years the company has diversified into various segments and offers a range of electric vans, electric autos and e-three wheelers like Mahindra E2o, Mahindra eAlfa Mini, Mahindra eSupro, Mahindra Treo and Mahindra eVerito.
5. Lohia Auto
Lohia Auto offers a range of electric scooters, electric three wheelers as well as e-autos in the country. Comfort E-Auto HS by Lohia Auto was launched at Delhi Auto Expo in 2018 that offers a load capacity of 40 kg and offers a seating for five people including the driver.
6. TwentyTwo Motors
Rolling out electric scooters in India, Twenty Two Motors tied up with Taiwanese electric two-wheeler manufacturer Kwang Yang Motor Company (KYMCO) to expand its horizons in the country. Both companies will be developing various charging solutions across fast charging, standard charging as well as battery swapping.
7. BYD Olectra
Among the leaders in electric buses segment, Olectra BYD claims to sell over 100 electric vehicles in the country across various state transport undertakings. Nearly 40 e-buses spanning 12m in length have been deployed by Telegana Stated Road Transport Corporation have been supplied by Olectra BYD.
8. Hyundai Kona electric
Charging up the Indian electric vehicle ecosystem, Hyundai launched its Kona EV in India with ARAI-certified range of 452 km. The Kona is equipped with lithium-ion polymer battery, against the conventional nickel-metal hybrid batteries for excellent charging and discharging efficiency. The company claims the EV has been designed to make it more suitable for Indian operating conditions.
9. Ashok Leyland
Ashok Leyland, the fourth largest bus maker in the world, unveiled its first electric bus Circuit in 2016 and Circuit S at the 2018 Delhi Auto Expo. The company claims its electric buses are designed for Indian conditions and has tied up with Sun Mobility to enhance its expertise in electric vehicle domain and introduce battery swapping in electric buses to address e-mobility needs in the country.
10. MG Motor
MG Motor has created a lot of buzz with its Hector SUV and has also lately introduced its MG ZS electric car. Strategically placed against Hyundai Kona electric, The MG ZS offers ARAI certified range of 340 kms and can be charged via two options- using normal 15 A AC charger in about 6-8 hours and 50 kW DC charger that can charge the vehicle up to 80 % in less than an hour.
The EV segment offers a huge business potential for Indian manufacturers across the value chain which includes manufacturers, traders as well as service providers. Electric vehicle range anxiety as well as charging infrastructure uncertainty continues to pose hurdles for electric vehicle adoption in the country. Despite a low volume segment, the electric vehicles and its manufacturers are growing in the country at a rapid clip. However, EV adoption will depend largely on stakeholders such as OEMs, start-ups, charging infrastructure developers along with battery manufacturers to come together and aim at a collaborative participation.