99
/
2
Min Read
Greaves Electric Mobility is doubling down on the sub-1 lakh electric two-wheeler segment as the core growth driver for its Ampere portfolio. The company believes affordability will remain the key factor in accelerating EV adoption across India’s mass market.
Managing Director Vikas Singh said the value segment offers the largest and most sustainable opportunity, given the country’s price-sensitive consumer base. He emphasized that Ampere’s strong foothold in this category will continue to be a strategic priority as competition intensifies.
Ampere’s lineup spans from entry-level scooters like Reo 80 to premium offerings such as Nexus, enabling the brand to cater to both first-time buyers and customers seeking feature-rich mobility solutions. The company is planning to launch a sixth-generation mass-market electric scooter by FY2027, aimed at replacing petrol-powered two-wheelers in the sub-₹1 lakh category.
Amid rising competition, Ampere climbed to the fifth position in electric two-wheeler retail sales in February 2026, selling 4,478 units and overtaking Ola Electric for the month. In FY2026, the company’s market share rose to 4.4%, with registrations growing 51% to 61,641 units.
Greaves Electric is targeting a double-digit market share in the coming years, supported by network expansion and product upgrades. The brand currently operates across 27 states with over 500 dealers.
The company expects demand to remain resilient despite a gradual reduction in government subsidies, citing lower running and maintenance costs as key drivers for EV adoption among cost-conscious consumers.
Focus on Product and Technology
Instead of aggressive multi-segment launches, the company is adopting a disciplined product rollout strategy, introducing models at regular intervals. It is also working on consolidating its vehicle platforms into a scalable architecture to improve efficiency and reduce costs.
Exports and IPO Plans
Alongside domestic growth, Greaves Electric is expanding internationally with early moves into Nepal and the Philippines, positioning exports as a secondary growth lever.
The company is also preparing for an IPO to raise ₹1,000 crore, with funds earmarked for product development, technology enhancement, and manufacturing expansion. Investments will include strengthening its Bengaluru tech center and setting up an in-house battery pack assembly line in Ranipet, Tamil Nadu, by FY2027.
Overall, Greaves Electric Mobility sees affordability and operational efficiency as the primary forces shaping the next phase of growth in India’s electric two-wheeler market.
