Top 10 Electric Vehicle Manufacturers Companies in India

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We all know that environmental pollution has assumed horrifying proportions around the world today. And it is a leading cause of global warming. It causes temperatures to rise all around the world, leading to widespread damages. The ozone layer gets depleted, allowing harmful sun rays to enter our atmosphere. Such pollution also damages soil and human health.

Vehicle manufacturers globally have been trying for a while to build cars that use alternative sources of energy and shun traditional fossil fuels. After considerable research, they have manufactured electric cars. They run on electricity stored in the battery that powers an electric motor. This battery needs to be changed periodically.

Advantages of Electric Cars

  • Cheaper maintenance
  • Environment-friendly
  • Beneficial for human health
  • Safer than traditional vehicles
  • Reduces dependence on petroleum imports (for energy-deficient countries). This helps save precious foreign exchange.

India’s Electric Vehicle Sector

The Indian electric car market is slated to reach more than $700 million by 2025. This implies a CAGR of more than 34%. The government is playing an active role to promote more manufacturing and usage of electric vehicles to decrease fossil fuel pollution. As of now, battery electric vehicles (BEVs) hold a majority share in the market. There are certain roadblocks like lack of charging points, initial heavy investment, lack of awareness, etc. But the government and manufacturers are sure to eliminate these.

Top Indian electric vehicle company - Infographics

The manufacturers’ market for electric vehicles in India is fairly consolidated. As of now, a moderate number of players are operating in the market.

Here is the list of leading electric vehicle manufacturers in India:

Mahindra Electric

Mahindra Electric

Mahindra Electric has been the forerunner of electric vehicle manufacturing in India. The products are available for both commercial and personal use. Part of the multi-billion dollar Mahindra Group, the present electric vehicle portfolio includes Treo &eAlfa Mini– the 3-wheelers, eVerito – the sedan, eSupro – the passenger and cargo van, and e20Plus – the revolutionary electric small car.

  • Market Cap (Rs Cr.): 93,525.38
  • Book Value (Rs): 277.45
  • Face Value (RS): 5.00
  • Turnover (Rs. In Lakhs): 30,642.75

Profit and Loss:

  • March 2020: -1,363.58
  • March 2019: 4,650.33
  • March 2018: 6,850.53
  • March 2017: 3,151.13

Tata Motors

TATA Motors

The global conglomerate, the Tata Group, has introduced their electric car model, named Nexon EV. The car comes with some excellent features like 0-100 kmph within 10 seconds & 0-50 kmph within 5 seconds, the largest network pan-India, free home charging installation (in select cases), and a large public charging network. The safety aspects are top-notch as well.

  • Market Cap (Rs Cr.): 56,698.12
  • Book Value (Rs): 56.39
  • Face Value (RS): 2.00
  • Turnover (Rs. In Lakhs): 59,126.12

Profit and Loss:

  • March 2020: -10,975.23
  • March 2019: -28,933.70
  • March 2018: 6,813.10
  • March 2017: 6,063.56

Hyundai

Hyundai

The KONA Electric by Hyundai is set to be India’s first all-electric SUV. With an unmatched driving range of 450+ km per full charge, an acceleration of 0-100 kmph in just above 9 seconds, automatic transmission, and a battery warranty of 8 years, the KONA provides an incomparable and extremely thrilling driving experience for the discerning customer.

  • Market Cap (B.): 47,692.29
  • Book Value (Rs): N/A
  • Face Value (Rs): N/A
  • Revenue (B): 102,578.39

Profit and Loss:

  • March 2020: N/A
  • March 2019: N/A
  • March 2018: N/A
  • March 2017: N/A

Ashok Leyland

Ashok Leyland, the flagship company of the Hinduja Group, is India’s largest and the world’s 4th largest bus manufacturer. Keeping in mind the extensive usage of public buses in India, Ashok Leyland is launching electric buses. These buses will be equipped with flash-charging technology that will take only 15 seconds for a 600 kW charge. The company has already started to run these buses on a pilot basis in Ahmedabad & Chennai.

  • Market Cap (Rs Cr.): 27,946.22
  • Book Value (Rs): 24.24
  • Face Value (RS): 1.00
  • Revenue (Rs. In Cr): 15,615.76

Profit and Loss:

  • March 2020: 239.52
  • March 2019: 1,983.20
  • March 2018: 1,717.73
  • March 2017: 1,223.08

Lohia Auto

Lohia Auto

Lohia Auto came into existence in 2008. In their decade-long stint, they have become a noted manufacturer of electric two-wheelers and three-wheelers. The company has launched the OMA range of scooters, Comfort range of e-rickshaws, Narain range of cargo three-wheelers, and Humsafar range of passenger and cargo three-wheelers. The company is driven by its zeal to create a cleaner world through new-age vehicles.

  • Market Cap (Rs Cr.): 30
  • Book Value (Rs): -120.25
  • Face Value (RS): 10
  • Revenue (Rs. In Cr.): 264

Profit and Loss:

  • March 2020: -90.69
  • March 2019: -78.36
  • March 2018: -81.09
  • March 2017: -72.83 

TwentyTwo Motors

TwentyTwo Motors

TwentyTwo Motors entered the electric vehicle fray in India with its first electric scooter, the Flow. With an all-digital display and smartphone compatibility, the vehicle is complete next-gen – along with a classy retro look. The vehicles remain linked with the mother company via a cloud base. This helps to track the scooter in case of theft or unauthorized ride. 2 hours is all it takes for a full charge, while a 10 minutes charge can see the scooter through 20 km. the top speed is 60 kmph.

  • Market Cap (Rs Cr.): N/A
  • Book Value (Rs): N/A
  • Face Value (Rs): N/A
  • Turnover (Rs. In Cr): 14,78,07,100.00

Profit and Loss:

  • March 2020: N/A
  • March 2019: N/A
  • March 2018: N/A
  • March 2017: N/A

BYD Olectra

OlectraGreentech Ltd was founded in 1992. It has strong involvements in Composite Insulators, Amorphous core-distribution transformers, Data Analysis, IT consulting, and Electric Buses. The e-buses are examples of the latest technology – with fast charging (2 hours), ITS-enablement, optimum passenger safety, long-range on a single charge, and much more. The maintenance hassles are also very low, making these buses the passenger carriers of the new age.

  • Market Cap (Rs Cr.): 960.76
  • Book Value (Rs): 84.32
  • Face Value (Rs): 4.00
  • Turnover (Rs. In Lakhs): N/A

Profit and Loss:

  • March 2020: 13.53
  • March 2019: -15.81
  • March 2018: 8.89
  • March 2017: 8.42

MG Motor

MG Motor

MG Motor’s ZS EV is India’s first pure electric internet SUV, available in three variants – standard, Excite, and Exclusive. The car comes with an 8-year/150k km warranty on the battery. Private owners will get a 24 x 7 roadside service warranty for 5 years. The running cost comes to less than Re 1/km. the advanced air filter assures clean air inside the vehicle while the 3 drive modes – eco, sports, and normal – allows you to customize your driving experience. Other premium features like hill descent control, reverse parking assist, connected mobility, and electric parking brake make sure that you enjoy a seamless driving experience.

  • Market Cap (Rs Cr.): 3350.0
  • Book Value (Rs): N/A
  • Face Value (Rs): N/A
  • Revenue (Rs. In Cr.): 5.30

Profit and Loss:

  • March 2020: N/A
  • March 2019: N/A
  • March 2018: N/A
  • March 2017: N/A

Ola Electric

Ola Electric

Ola Electric is a project undertaken by Ola, one of the largest app cab companies of the world. Its target is to launch e-scooters and e-rickshaws in India in the near future. As of now, it is targeting to launch its e-scooter by February 2021 at a price under Rs 1 lakh. It will be called “App Scooter.” It can be charged at home and in the public charging points. The scooter will come with 3 interchangeable battery modules. Each battery will have a capacity of 600W per module. The range per module would be 80km.

  • Market Cap (M): $114.8M
  • Book Value (Rs): N/A
  • Face Value (Rs): N/A
  • Revenue (Rs. In Crore): 2,222

Profit and Loss:

  • March 2020: N/A
  • March 2019: N/A
  • March 2018: N/A
  • March 2017: N/A

Ather Energy

Ather Energy, a new entrant in the field, comes with its attractive e-scooter, the Ather 450X. the scooter comes in 4 attractive colors and with a host of exciting and essential features. The 7” LCD display will help you to take calls, navigate, and locate the nearest charging point – in short, everything you would have otherwise done through your smartphone. This is a critical safety mechanism. Accelerate to 40 kmph in just over 3 seconds and reach up to 80kmph of top speed. The easy-to-install home charger, Ather Dot, saves you from the hassle of going to refuel. The Ather app would also enable you to remotely check your scooter’s charge status.

  • Market Cap (Rs Cr.): N/A
  • Book Value (Rs): N/A
  • Face Value (Rs): N/A
  • Turnover (Rs. In Lakhs): N/A

Profit and Loss:

  • March 2020: N/A
  • March 2019: N/A
  • March 2018: N/A
  • March 2017: N/A

List of Top Electric Vehicle Companies in India

Sl. No. Company Establishment Head office Website
1 Mahindra Electric 1994 Bengaluru https://www.mahindraelectric.com/
2 Tata Motors 1945 Mumbai https://www.tatamotors.com/
3 Hyundai 1967 Seoul, South Korea https://www.hyundai.com/in/en
4 Ashok Leyland 1948 Chennai https://www.ashokleyland.com/
5 Lohia Auto 2008 Noida https://lohiaauto.com/
6 Twenty Two Motors 2016 Gurgaon http://www.22motors.in/
7 BYD Olectra 2007 Hyderabad https://olectra.com/
8 MG Motor 2006 Marylebone, London, United Kingdom https://www.mgmotor.co.in/
9 Ola Electric 2010 Bengaluru https://olaelectric.com/
10 Ather Energy 2013 Bengaluru https://www.atherenergy.com/

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