Eyeing a double-digit market share in the highly competitive electric vehicle market over the next two years, Greaves Electric Mobility Ltd (GEML) is focusing on expanding its international presence, launching new products and investing heavily in technology.
Speaking to TNIE, Vikas Singh, MD of GEML, said the company’s electric two-wheeler business grew 120% year-on-year during April-July, compared with around 75% growth for the overall industry. Its market share rose from 3.2% to 5.6% in June. In the electric three-wheeler segment, GEML grew 85% year-on-year.
The mobility arm of Greaves Cotton Ltd has sold more than 10,000 electric two-wheelers since June, according to the Vahan dashboard, with 10,127 vehicles sold across India.
The Bengaluru-headquartered company offers products priced between Rs 65,000 and Rs 1.5 lakh. Its portfolio includes Ampere Nexus, Ampere Magnus G Max and Ampere Reo. The Reo VYB, a low-speed scooter, has also gained traction in the Indian market.
According to Singh, more than four lakh Ampere electric vehicles have been manufactured and sold in India since GEML acquired the brand in 2019. The company plans to launch one product every quarter in FY27, including an electric three-wheeler and an electric two-wheeler in October.
GEML also plans to expand its distribution network to 1,000 outlets from the current 650.
Ampere recorded 51% year-on-year growth in FY26, while its market share increased from 3.6% in FY25 to 4.4% in FY26, strengthening its position among India’s leading electric two-wheeler players.
The company is also expanding beyond the B2B segment into B2C and D2C markets, including offerings aimed at enabling gig workers to own electric vehicles at affordable prices.
GEML is expanding in markets such as Nepal and the Philippines and is in the final stages of launching its products in Sri Lanka. Its Ampere Nexus has seen strong demand in Nepal.
Singh said the company’s lithium iron phosphate (LFP) battery pack enables the vehicle to deliver torque of up to 130-140 Nm. GEML plans to increase this to 200 Nm in the future.
GEML recently raised Rs 530 crore through a rights issue. The funds will be deployed towards technology development and further expansion of its distribution network.
