India is funding EV businesses to enhance environmentally friendly transportation. These firms use AI, ML, and IoT to produce efficient, reasonably priced EVs. The largest problem facing the globe now is global warming, and Indian businesses are essential in finding solutions.
One of the main contributors to global warming is vehicle pollution, thus various firms have emerged to fill this gap in the market and provide individuals who wish to go all electric on their wheels an economically sensible choice. The Indian EV industry, which is expected to reach $15,397 billion by 2027, contains both small and major EV firms.
The Top 10 Best Electric Vehicles (EV) Startups in India in 2023 will be discussed in this post.
2019 saw the founding of EV startup BLUSmart by Anmol Singh Jaggi and Puneet K Goyal. Through its smartphone app, the Gurugram-based firm offers electric ride-hailing mobility services. Mahindra & Mahindra and BLUSmart collaborated to introduce the first group of EVs on the platform. The business secured $3 million in angel funding in September 2019 under the direction of JITO Angel Network, Deepika Padukone’s investment firm.
The business launched intercity EV services from the Delhi NCR to Chandigarh and Jaipur. Additionally, it has increased EV services at Delhi IGI Airport. In order to increase its fleet to more over 5,000 vehicles, it is now aiming to expand its EV charging centres in Delhi NCR.
The Revolt RV400 resembles street naked bikes in appearance and is the first AI-capable electric motorbike in the country. The firm was formed by Micromax co-founder Rahul Sharma.
The RV400 and RV300 are Revolt Motors’ top-selling electric bike models, and the company also leads the Indian market for EV bikes. These electric bicycles have a range of 150 km, a peak speed of 85 km/h, and a charging time of 4 hours.
In collaboration with RUGGED Solar Products Pvt Ltd and ReBatt Limited, 3EV Industries was founded in 2019. Suman K. Mishra and Peter Hartmut Voelkner launched the Bengaluru-based firm.
Over the course of 4 rounds, 3EV Industries has secured $5.67 million in investment. Their most recent round of investment was a $2.5M seed round on July 18, 2022. Customers in India may get last-mile hyper-local connection thanks to the company. The business wants to improve last-mile logistics using off-grid power technologies and renewable energy sources. The startup mostly complies with the Indian government’s ‘Make in India’ initiative.
Bhavish Agarwal established Ola Electric Mobility in 2017. India’s Ola Electric Mobility is an electric two-wheeler manufacturer with headquarters in Bengaluru. The Ola Future factory employs more than 3000 robots and can produce 10 million electric two-wheelers per year.
Revolt Switch Stations are app-based battery switching stations that the firm also offers, allowing EV bike users to swap out their batteries with rechargeable ones.
In 2019, Chargeup was launched by Varun Goenka and Ankur Madan. The company is an innovative fin-tech platform that enhances drivers’ efficiency and convenience by using the network of the finance-technology sector.
The company also offers battery-changing alternatives that work well at swapping stations.
2018 saw the founding of Delhi-based electric vehicle (EV) start-up Euler Motors. Through three-wheeler EVs, mobile apps, energy infrastructure, and web-based software solutions, Euler Motors offers commercial electric mobility solutions.
According to the manufacturer, it can be fully charged in 15 minutes and, after that, travel 151 kilometres. The business provided more than 250 three-wheeler electric vehicles to a number of businesses, including BigBasket, Ecom Express, and Udaan.
The Delhi-based firm was established by Goldie Srivastava in 2015. The firm provides last-mile connection to commuters. The start-up runs electric cars in more than 10 Indian cities, including Gurugram, Delhi, Faridabad, Noida, Lucknow, Mumbai, Kolkata, and Bengaluru.
17 companies have joined forces with SmartE, including Kinetic Green, HSIIDC, ACME, NTPC, SBI, Exicom, Sun Mobility, and Amar Raja.
The business was started in 2019 by Avinash Sharma and Raghav Rohilla. Customers may access charging infrastructure from the startup’s Bengaluru location. EV users may find nearby charging stations using their smartphone.
In partnership with hundreds of independent charge point operators, ElectricPe is building India’s biggest Electric Vehicle (EV) Charging Platform to make sure that EV drivers never have to worry about running out of power or being able to find a charging station nearby.
The basis for the 2020 launch of the EMotorad (EM) was formed by Kunal Gupta, Rajeev Gangopadhyay, Aditya Ojha, and Sumedh Batewar.
In order to make the e-bike of the future affordable for people who are interested in going on adventures, daily commuting to work, or improving their general health, EMotorad (EM), an electric vehicle company with headquarters in Pune, was founded.
Tarun Mehta and Swapnil Jain, two IIT graduates who formed the company in Bengaluru, have also established an EV charging station there. The business offers infrastructure solutions for green energy and transportation.
They are already successful and very well-liked by young people. Numerous investors and well-known e-commerce companies like Flipkart support the business. The scooter is available in two variations from the startup: Ather 450X and Ather 450 Plus.