The EV Market in India was valued at USD 1434.04 billion in 2021.
It is expected to reach USD 15397.19 billion by 2027 registering a CAGR of 47.09% during the forecast period (2022 – 2027).
Rising government emphasis on enhancing EV ecosystem in India, is allowing
many EV startups to bloom and flourish.
A few of the very promising EV startups are listed below:
Founded in 2013 by Tarun Mehta and Swapnil Jain, with a dream to challenge the well-established Internal Combustion Engine (ICE) and replace it with an electric drive.
They built India’s first smart and connected electric scooters.
Ather is one of the few start-ups in India, specifically within the automotive industry, to have products & services that are an amalgamation of clean design & engineering.
They are also building a complete ecosystem for India’s electric vehicles driven by indigenous design ,all locally manufactured. They are looking to expand in about 30 cities in the coming months.
Ather Energy is funded by the likes of HeroMotorCorp, Tiger Global Management, InnoVen capital and many others.
Founded by Anmol Jaggi and Punit K Goyal in 2019, BluSmart
is on a mission to steer urban India towards a sustainable means of transportation. Their aim is to provide them efficient, affordable, intelligent, safe and reliable mobility.
As a part of their BluRevolution, they have:
-curbed 2000+ tonnes of CO2 emissions
-completed 850,000+ electric rides
-travelled 31 million+ clean kms
BluSmart is funded by BP Ventures, Venture Catalysts | India’s First Integrated Incubator, Mayfield Fund and many others
Founded by Varun Agni, Anil G and Vivekananda Hallekere,
Bounce is making bike rides simple, accessible and sustainable for
Their ‘keyless bikes’ have just simplified the whole process of renting a bike without any physical or human intervention.
With their electric scooters, one can save on the daily commute and also save the
environment by reducing carbon emissions.
Bounce scooters have helped saved 691 M Tons of Carbon so far.
They are funded by Maverick Ventures, Chiratae Ventures, Accel India and many more
Founded by Arun Vinayak and Sanjay Byalal Jagannath,
Exponent Energy is Bengaluru based deep-tech startup focused on energy in the EV space.
They have unlocked 15-minute rapid charging on a wide range of Li-ion cells that
are affordable and easily available.
This is made possible by their battery pack and charging station seamlessly working together.
They are funded by YourNest Venture Capital, AdvantEdge Founders, Motherson Sumi Systems Limited and others.
We wish these startups and more the very best in their journey ahead.
We are elated to see the EV sector booming in India, are you?
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