Electric Vehicle Startups

10 EV startups in 2024 revolutionizing the EV market with innovation, technology, and sustainable mobility solutions

The electric vehicle (EV) sector in India is experiencing an exciting phase of growth and innovation in 2024. The Indian government’s focus on reducing carbon emissions, along with increasing consumer awareness and demand for sustainable mobility solutions, has created a thriving environment for EV startups. In this article, we explore India’s top 10 electric vehicle startups of 2024, highlighting their unique contributions to the industry and the future of mobility in the country.

1. Ather Energy

Ather Energy has quickly become one of the most recognized names in the Indian EV landscape. Founded in 2013, Ather Energy is known for its flagship electric scooters, the Ather 450X and Ather 450 Plus. In 2024, Ather continues to lead the market with its advanced technology, seamless design, and superior performance.

Ather Energy's scooters feature a fast-charging network called Ather Grid, which is expanding rapidly across Indian cities. Their vehicles are equipped with a range of smart features such as onboard navigation, over-the-air updates, and mobile app integration, making them highly popular among tech-savvy urban commuters. The company’s focus on in-house battery manufacturing and its expansion plans for setting up new production facilities are also contributing to its continued growth in the EV market.

2. Revolt Motors

Revolt Motors has carved a niche for itself by offering India’s first AI-enabled electric motorcycles. Launched in 2019, the company’s RV400 and RV300 models are gaining traction among young, eco-conscious riders looking for stylish and affordable alternatives to traditional petrol bikes. Revolt’s unique offering includes a subscription-based model that allows customers to access their bikes with a monthly fee, covering everything from the cost of the bike to maintenance and insurance.

Revolt Motors is also known for its focus on AI and IoT, integrating smart features such as geo-fencing, remote diagnostics, and customizable artificial engine sounds. In 2024, Revolt continues to expand its presence in tier-2 and tier-3 cities across India, leveraging its innovative business model and customer-centric approach.

3. ElectricPe

ElectricPe is a dynamic startup in the EV charging infrastructure space, addressing one of the key challenges of electric vehicle adoption—charging accessibility. Founded in 2021, ElectricPe aims to build a robust and extensive network of charging stations across the country. The startup uses a subscription model to offer affordable charging solutions for both individual and fleet operators.

In 2024, ElectricPe continues to innovate with smart charging solutions that optimize energy consumption and reduce costs. Their platform also integrates with various digital payment systems, providing a seamless experience for EV users. With strategic partnerships with real estate developers, malls, and parking operators, ElectricPe is rapidly expanding its footprint across urban India.

4. OLA Electric

OLA Electric, a subsidiary of the ride-hailing giant OLA, has emerged as a significant player in the electric mobility space. With the launch of its highly anticipated OLA S1 and S1 Pro electric scooters, OLA Electric has set ambitious goals to dominate the Indian EV market. The company’s cutting-edge products boast high performance, extensive range, and affordable pricing, which have struck a chord with the masses.

In 2024, OLA Electric has continued its aggressive expansion strategy, including setting up the world’s largest EV factory in Tamil Nadu, which aims to produce 10 million scooters annually. The company is also working on developing its own battery technology to reduce dependence on imports, ensuring affordability and scalability in the long term.

5. Chargeup

Chargeup is another innovative startup focused on solving the charging infrastructure problem in India. It operates a unique battery-swapping network that caters specifically to electric rickshaws, a segment that is rapidly growing in India. Founded in 2019, Chargeup provides an easy solution for e-rickshaw drivers by allowing them to swap their discharged batteries with fully charged ones within minutes, ensuring minimal downtime and maximum productivity.

In 2024, Chargeup is expanding its battery-swapping stations across multiple cities and forming partnerships with e-rickshaw manufacturers to integrate its swapping technology directly into their vehicles. This expansion has positioned Chargeup as a key player in the push toward electrifying India’s massive auto-rickshaw market.

6. EMotorad

EMotorad, a Pune-based startup founded in 2020, specializes in electric bicycles (e-bikes). The company has gained a loyal customer base by offering high-quality, affordable electric bikes designed for both urban and off-road use. EMotorad’s e-bikes are equipped with powerful motors, long-lasting batteries, and smart features like app connectivity and GPS tracking.

In 2024, EMotorad continues to innovate by expanding its product line to cater to different user segments, including commuters, fitness enthusiasts, and adventure seekers. The startup is also expanding its presence internationally, exporting its e-bikes to markets in Europe and the Middle East, thus showcasing Indian engineering on a global stage.

7. BLUSmart

BLUSmart is India’s first all-electric ride-sharing platform, offering sustainable and eco-friendly urban transportation solutions. Founded in 2019, BLUSmart has quickly become a preferred choice for conscious consumers looking to reduce their carbon footprint. The startup has built a fleet of electric cars in partnership with leading EV manufacturers, providing zero-emission rides to passengers across several major cities.

In 2024, BLUSmart is expanding its services into more cities while also building its own charging infrastructure to support its growing fleet. The company’s commitment to sustainability, coupled with its focus on providing a superior customer experience, has made it a standout player in the EV space.

8. Euler Motors

Euler Motors, founded in 2018, focuses on electric commercial vehicles, particularly in the cargo and delivery segment. The company’s flagship product, the HiLoad EV, is designed to cater to the needs of last-mile delivery operators. With a payload capacity higher than most of its competitors, the HiLoad EV is built to handle the rugged conditions of Indian roads while offering cost savings on fuel and maintenance.

In 2024, Euler Motors is expanding its market reach and production capabilities. The company has received significant funding to increase production and enhance its battery technology. With its focus on electric commercial vehicles, Euler Motors is well-positioned to capitalize on the growing demand for sustainable last-mile delivery solutions.

9. SmartE

SmartE, founded in 2014, has become India’s largest electric mobility service, primarily operating electric rickshaws for last-mile connectivity. The startup operates in multiple cities and has partnered with metro services to provide convenient and eco-friendly last-mile transport options. SmartE aims to reduce urban congestion and pollution by offering a reliable and affordable alternative to conventional auto-rickshaws.

In 2024, SmartE is scaling its operations further by adding more vehicles to its fleet and expanding to new cities. The company is also experimenting with different vehicle types, including electric buses, to provide comprehensive mobility solutions. SmartE’s growth aligns with India’s larger objective of reducing vehicular emissions and promoting sustainable urban transport.

10. 3EV Industries

3EV Industries is a relatively new entrant in the Indian EV ecosystem, focusing on providing electric solutions for light commercial vehicles (LCVs). Founded in 2021, 3EV Industries has quickly gained recognition for its innovative electric delivery vans and trucks designed for urban logistics. The startup aims to replace diesel-powered LCVs with electric alternatives, offering both cost savings and environmental benefits.

In 2024, 3EV Industries is working on developing more advanced battery technology to increase the range and efficiency of its vehicles. The company is also in talks with e-commerce giants and logistics companies to pilot its electric LCVs for their delivery operations, which could provide significant growth opportunities.

India’s electric vehicle ecosystem is vibrant and rapidly evolving, with several startups leading the way in innovation and sustainable mobility solutions. From Ather Energy’s smart scooters to OLA Electric’s aggressive expansion plans, and from Revolt Motors’ AI-enabled motorcycles to SmartE’s electric rickshaws, these startups are helping to shape the future of transportation in India.

As we move forward in 2024, the continued growth of these startups will be crucial in achieving India’s ambitious goals of reducing carbon emissions and promoting clean energy. With a supportive regulatory environment, increased consumer awareness, and technological advancements, India is well on its way to becoming a global hub for electric mobility.