Company lists
The Gujarat edition · 2026

Electric vehiclescompanies in Gujarat

E-bikes & scooters, cars & commercial EVs, charging, batteries & components, rentals & sharing and more: the companies building electric vehicles in Gujarat, with their founders, funding, team size and business models.

139 company profiles48 with reported revenue7 with recorded fundingOctober 2026 edition

Recent electric vehicles business events in India

Funding, M&A, contract wins and launches involving 2,153 electric vehicles companies in India, last 24 months: 112 funding rounds · 72 Contracts · 66 launches · 45 M&A deals. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

FundingInvestment

Olectra greentech

OLECTRA GREENTECH is lining up a fresh investment of nearly ₹700 crore as it looks to deepen localisation, expand its electric bus and truck portfolio.

Electric commercial vehicle
FundingSeries A

Tiea connectors

Tiea Connectors also stood out with Rs. 77 crore in Series A funding led by IvyCap Ventures. Jamwant Ventures, 8X Ventures and HNI angel investors also joined the round.

Investors Ivycap ventures, Jamwant Ventures, 8x ventures, HNI angel investors
High-performance connectors / deeptech
FundingQualified Institutions Placement

Ola electric

Ola Electric Mobility Limited announced today, June 1, 2026, that its Fund Raising Committee has approved the opening of a qualified institutions placement of equity shares.

M&AAcquisition · Announced

Kpit technologies acquires Cymotive

KPIT Technologies ... announced that it has entered into an agreement to acquire a majority stake (subject to achievement of specific milestones) in Cymotive, a leading automotive…

Automotive cybersecurity
M&AAcquisition · Announced

Kpit technologies acquires Maj Jorites Tech

KPIT Technologies announced on Wednesday that it is acquiring Maj Jorites Tech from Israeli firm Symotive to strengthen its capabilities in AI-based automotive cybersecurity.

AI-based automotive cybersecurity
Funding

River

Electric vehicle startup River is in talks to raise approximately $100 million in fresh funding, marking its largest capital infusion since its founding in 2021.

Investors Anicut capital, Claypond Capital, Elev8 venture partners
Electric Vehicle
FundingDebt financing

Battery smart

Battery Smart, India's leading EV battery swapping provider, has raised $15 million in debt financing. The funding round was led by Mirova, a French asset management firm focused on…

Investors Mirova
EV battery swapping
ContractSupply

Emni · client: Advantex Battery

EMNI announced on April 21 that it has signed a lithium‑ion cell supply contract ... with ADVANTEX Battery.

Battery
Funding

Sarla Aviation

Sarla Aviation and IndiGo have announced a strategic equity investment of ₹10 crore by IndiGo Ventures in Sarla Aviation.

Investors IndiGo Ventures
EVTOL, Urban Air Mobility
ContractSupply

Citroën · client: Cab-e

Citroën has signed a Memorandum of Understanding (MoU) with urban e-mobility firm Cab-E, to introduce over 2000 Citroën ë-C3 EVs in Cab-E’s fleet in the Mumbai and Pune region, this year.

Contract

Ashok leyland · client: Switch mobility

Ashok Leyland is also expected to invest up to $ 200 million (Rs 1,480 crore) in Switch Mobility of which $ 130 million (Rs 962 crore) has already been invested in the entity.

E-mobility
LaunchOtua

Dandera ventures

EV start-up Dandera Ventures today launched Otua, an electric three-wheeler designed for cargo transportation.

Electric three-wheeler
LaunchHiLoad EV

Euler motors

Electric commercial vehicle company Euler Motors today launched its first cargo three-wheeler, the HiLoad EV.

Electric commercial vehicle
Launch

Bijliride

Bijliride has introduced a software-as-a-service platform designed to help enterprises manage electric vehicle fleets, marking the startup's expansion into B2B technology solutions.

Fleet management
LaunchGreaves Eltra cargo e-three-wheeler

Greaves electric mobility

Greaves Electric Mobility has launched its latest three-wheeler, the Greaves Eltra cargo model targeted at last-mile logistics providers.

LaunchELCV

E-Trio

Telengana-based electric vehicle start-up e-Trio today launched India’s first certified retrofitted electric light commercial vehicle (eLCV).

Electric Light Commercial Vehicle
LaunchKinetic DX

Kinetic group

The launch of the Kinetic DX in the two‑wheeler EV segment is the most visible marker of this shift.

Two‑wheeler EV
ContractSupply

Olectra greentech · client: Brihan Mumbai Electric Supply & Transport Undertaking (BEST)

Olectra Greentech Ltd has been awarded a contract from Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for supply of 2,400 electric buses.

Funding

Euler motors

Last month, electric commercial vehicle maker Euler Motors also raised ₹437.5 Cr in a round led by Lightrock, with participation from existing investors Hero MotoCorp and Blume Ventures.

M&AAcquisition · Announced

Tube Investments acquires Infraprime logistics technologies

Murugappa Group engineering company Tube investments of India acquired 65.2% stake in InfraPrime Logistics Technologies (IPLTech), a heavy-duty electric vehicle (EV) manufacturing…

Heavy-duty electric vehicle manufacturing startup
FundingSeries A

Bacancy Systems

Engineering startup Bacancy Systems raised $4.31 million in a Series A round.

Engineering
ContractGovernment

SCharge · client: Technology Development Board

the government body entered an agreement with Scharge Private Limited to develop a next‑generation electric vehicle charging solution for commercial fleet and depot operations under the…

Industrial sustainability, EV charging infrastructure
ContractInfrastructure

Dhabriya polywood · client: Indian Company

Dhabriya Polywood has received the work order worth Rs 34.81 crore (including GST) from Indian Company for Aluminium doors-windows & facade works.

Infrastructure
LaunchAther 450 series

Ather energy

With the Ather 450 series, the Bengaluru-based startup introduced connected dashboards, over-the-air updates, fast charging networks, and smart diagnostics.

Electric scooter
LaunchS1 range

Ola electric

Its S1 range brought electric scooters into mainstream discussion, combining design, performance, and app-based controls.

Electric scooter
FundingSeries A

Bacancy Systems

Bacancy Systems has raised ₹400 million in a Series A funding round led by Sabre Partners and Greenstone Capital, with both investors acquiring minority stakes through primary…

Embedded electronics and power systems for electric vehicles and railway applications
LaunchUV Space Station

Ultraviolette automotive

Ultraviolette Automotive announced the launch of a new UV Space Station in Nagpur, a significant step in expanding its retail and service network across emerging mobility markets in India.

Retail and Service Center
Funding

Pmi Electro Mobility

"KKR has made an investment of $310 million in PMI Electro Mobility, a manufacturer of e-buses); and Allfleet, a subsidiary of PMI that owns and operates e-bus concessions."

Investors Kkr
Electric commercial vehicle manufacturer
Funding

Ecofy

Ecofy, an NBFC focused on financing climate change solutions, raised Rs 380.5 crore ($41 million approx,) from BII and DAIF.

Investors Bii, DAIF
FinTech

Electric vehicles companies in Gujarat, by revenue

Browse electric vehicles companies in Gujarat by reported revenue, one-year revenue growth, revenue model, age and stage. The 48 companies below are the largest by their most recent reported revenue among 48 electric vehicles companies in Gujarat that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 48

Manufacturer of lithium-ion batteries for hybrid vehicle and energy storage

Electric vehicles
₹1,506.21 crFY 2024-25
Not reported
844+26% 12 mo to Sep 2024LinkedIn · Oct 2026
7 yr2019
0none in 3 months

Manufacturer of electric two-wheel vehicles and related components and services

Electric vehicles
₹305.35 crFY 2024-25
-5%2024–2025
387+3% 12 mo to Sep 2024LinkedIn · Oct 2026
44 yr1982
0none in 3 months

Developer of electric scooters

Electric vehicles
₹109.03 crFY 2024-25
-41%2024–2025
280-6% 12 mo to Sep 2024LinkedIn · Oct 2026
10 yr2016
0none in 3 months

Provider of electric vehicle solutions

Electric vehicles
₹93.09 crFY 2024-25
+313%2024–2025
32LinkedIn · Oct 2026
40 yr1986
0none in 3 months

Manufacturer of electric rickshaws

Electric vehicles
₹64.41 crFY 2024-25
+341%2024–2025
73+40% 12 mo to Aug 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Operator of electric vehicle charging stations and related software services

Energy storage tech
₹61.08 crFY 2024-25
Not reported
213+56% 12 mo to Aug 2024LinkedIn · Oct 2026
8 yr2018
0none in 3 months

Provider of electric vehicle charging solutions

Energy storage tech
₹58.02 crFY 2024-25
+98%2024–2025
—Not available
4 yr2022
0none in 3 months

Electric two-wheeler manufacturing company

Electric vehicles
₹22.92 crFY 2022-23
Not reported
60+11% 12 mo to Aug 2024recorded Aug 2024
12 yr2014
0none in 3 months

Manufacturer of electric rickshaws

Electric vehicles
₹23.79 crFY 2024-25
+57%2024–2025
7recorded
10 yr2016
0none in 3 months

Manufacturer of smart EV charging hardware and integrated infrastructure services

Electric vehicles
₹18.34 crFY 2024-25
+156%2024–2025
23LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Provider of EV charging solutions

Electric vehicles
₹18.00 crFY 2024-25
+344%2024–2025
—Not available
6 yr2020
0none in 3 months

Manufacturer of premium foldable electric bicycles and related accessories

Electric vehicles
₹17.98 crFY 2024-25
+31%2024–2025
49+614% vs previous recordLinkedIn · Jul 2026
8 yr2018
0none in 3 months

Manufacturer of electric vehicle charging stations and software solutions

Electric vehicles
₹6.36 crFY 2024-25
+2698%2024–2025
1LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Provider of EV charging software and fleet management solution

Energy storage tech
₹5.62 crFY 2024-25
-13%2024–2025
—Not available
3 yr2023
0none in 3 months

Provider of EV charging solutions for electric vehicles

Energy storage tech
₹4.51 crFY 2024-25
-5%2024–2025
—Not available
5 yr2021
0none in 3 months

Manufacturer of electric scooters

Electric vehicles
₹3.21 crFY 2021-22
Not reported
17LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Manufacturer of multiple categories of electric vehicles

Electric vehicles
₹2.66 crFY 2021-22
Not reported
—Not available
7 yr2019
—No postings tracked

Provider of AC and DC electric vehicle charging station solutions

It services
₹2.98 crFY 2024-25
+180%2024–2025
14-17% 12 mo to Sep 2024LinkedIn · Oct 2026
26 yr2000
0none in 3 months

Provider of electric vehicle chargers

Energy storage tech
₹2.62 crFY 2024-25
-6%2024–2025
6LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Platform offering electric scooters

Electric vehicles
₹2.07 crFY 2023-24
+6%2023–2024
30-39% 12 mo to Sep 2024LinkedIn · Jul 2026
4 yr2022
0none in 3 months · last posted Jul 2026

App-based rental platform providing electric kick-scooters

Road transport tech
₹1.92 crFY 2024-25
+956%2024–2025
7LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Provider of EV charging station operators

Smart cities
₹1.76 crFY 2024-25
+118%2024–2025
6LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Manufacturer of electric motorcycles

Electric vehicles
₹1.73 crFY 2024-25
+269%2024–2025
19-29% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Nov 2025

Online platform offering the listings and comparison of electric two-wheelers

Electric vehicles
₹1.28 crFY 2024-25
+165%2024–2025
21LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Provider of EV chargers

Energy storage tech
₹1.15 crFY 2024-25
+297%2024–2025
3LinkedIn · Jul 2026
6 yr2020
0none in 3 months
48 of 139 companies shown here · the full list is on Radar
Fliar Radar

Explore all 139 electric vehicles companies in Gujarat on Radar

This page shows the top 48. Radar has the complete, filterable list with contacts and live company signals.

Open electric vehicles in Gujarat on Radar
  • Every company, not just 50All 139 electric vehicles companies in Gujarat, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
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Explore electric vehicles companies in Gujarat by what you are looking for

Browse top electric vehicles companies in Gujarat, from electric two-wheeler makers to charging networks and battery suppliers. Find electric vehicle startups in Gujarat and listed companies too.

9 ways to explore electric vehicles in Gujarat

Electric bike & scooter manufacturersElectric cars, commercial vehicles & e-rickshawsEV charging station companiesEV batteries, motors & componentsElectric vehicle rental & sharing platformsEV listing, comparison & retail platforms

Electric bike & scooter manufacturers

Makers of electric bikes, scooters, motorcycles and bicycles.

  1. Wardwizard

    Manufacturer of electric two-wheel vehicles and related components and services

    Electric vehicles
    See in list
  2. Joy e-bike

    Developer of electric scooters

    Electric vehicles
    See in list
  3. Tunwal

    Electric two-wheeler manufacturing company

    Electric vehicles
    See in list
  4. Svitch

    Manufacturer of premium foldable electric bicycles and related accessories

    Electric vehicles
    See in list
  5. White Carbon Motors

    Manufacturer of electric scooters

    Electric vehicles
    See in list

Electric cars, commercial vehicles & e-rickshaws

Makers of electric cars, light commercial vehicles, e-rickshaws and tractors.

  1. Wardwizard

    Manufacturer of electric two-wheel vehicles and related components and services

    Electric vehicles
    See in list
  2. Joy e-bike

    Developer of electric scooters

    Electric vehicles
    See in list
  3. Mercury EV

    Provider of electric vehicle solutions

    Electric vehicles
    See in list
  4. Atul Greentech

    Manufacturer of electric rickshaws

    Electric vehicles
    See in list
  5. Tunwal

    Electric two-wheeler manufacturing company

    Electric vehicles
    See in list

EV charging station companies

Operators and makers of electric vehicle chargers and charging networks.

  1. ChargeZone

    Operator of electric vehicle charging stations and related software services

    Energy storage tech
    See in list
  2. EVamp Technologies

    Manufacturer of smart EV charging hardware and integrated infrastructure services

    Electric vehicles
    See in list
  3. VerdeMobility

    Provider of EV charging solutions

    Electric vehicles
    See in list
  4. Evnity - EV Charging Management Software

    Provider of EV charging software and fleet management solution

    Energy storage tech
    See in list
  5. Vraj EV Charge

    Provider of EV charging solutions for electric vehicles

    Energy storage tech
    See in list

EV batteries, motors & components

Lithium-ion batteries, motors and powertrain parts for electric vehicles.

  1. Tds-G

    Manufacturer of lithium-ion batteries for hybrid vehicle and energy storage

    Electric vehicles
    See in list
  2. Titlis Projects & Engineering

    Provider of engineering solutions, agritech innovations, and renewable energy products

    Crop tech
    Website
  3. E -Vega Labs

    Manufacturer of smart battery products for electric vehicles

    Energy storage tech
    Website
  4. Gati Drives

    Manufacturer of synchronous reluctance motors and motor control technology

    Electric vehicles
    See in list
  5. Bacancy Systems

    Manufacturer of electric vehicle components and embedded systems

    Electric vehicles
    Website

Electric vehicle rental & sharing platforms

Scooter and bike rental, subscription and mobility-as-a-service platforms.

  1. ElekGo

    App-based rental platform providing electric kick-scooters

    Road transport tech
    See in list
  2. BillionE

    Online platform offering multi-category electric two-wheeler rental services

    Electric vehicles
    See in list
  3. eVegah

    Online platform offering electric mobility-as-a-service vehicles

    Road transport tech
    See in list
  4. Horse

    App-based platform offering electric kick scooter sharing services

    Road transport tech
    See in list
  5. ionplus

    App-based electric scooter rental platform

    Electric vehicles
    See in list

EV listing, comparison & retail platforms

Online platforms to compare, list and buy electric vehicles.

  1. EV India

    Online platform offering the listings and comparison of electric two-wheelers

    Electric vehicles
    See in list
  2. Evehica

    Online listing platform for cars

    Electric vehicles
    Website
  3. EVINDIA

    Online platform offers information about electric vehicles

    Electric vehicles
    Website
  4. Tds-G

    Manufacturer of lithium-ion batteries for hybrid vehicle and energy storage

    Electric vehicles
    See in list
  5. BillionE

    Online platform offering multi-category electric two-wheeler rental services

    Electric vehicles
    See in list

Listed electric vehicles companies in Gujarat

Publicly listed electric vehicle companies.

  1. Wardwizard

    Manufacturer of electric two-wheel vehicles and related components and services

    Electric vehicles
    See in list
  2. Mercury EV

    Provider of electric vehicle solutions

    Electric vehicles
    See in list
  3. Tunwal

    Electric two-wheeler manufacturing company

    Electric vehicles
    See in list
  4. AmpVolts

    Provider of AC and DC electric vehicle charging station solutions

    It services
    See in list
4 companies in Gujarat

Electric vehicle startups in Gujarat

Newer electric vehicle companies founded in recent years.

  1. Mindra EV

    Provider of electric vehicle charging solutions

    Energy storage tech
    See in list
  2. EVamp Technologies

    Manufacturer of smart EV charging hardware and integrated infrastructure services

    Electric vehicles
    See in list
  3. i-elektrik

    Provider of electric vehicle chargers

    Energy storage tech
    See in list
  4. BU4 Auto

    Platform offering electric scooters

    Electric vehicles
    See in list
  5. ElekGo

    App-based rental platform providing electric kick-scooters

    Road transport tech
    See in list
31 companies in Gujarat

Electric vehicles companies hiring in Gujarat

Electric vehicle companies currently hiring.

  1. BU4 Auto

    Platform offering electric scooters

    Electric vehicles
    See in list
  2. ABZO

    Manufacturer of electric motorcycles

    Electric vehicles
    See in list
  3. Cargar

    Provider of portable electric vehicle fast charging and solar charging solutions

    Electric vehicles
    See in list
  4. Yahhvi

    Provider of electric vehicle charging infrastructure and related support services

    Energy storage tech
    See in list
  5. Tectonic Power

    Developer of redox flow batteries and electric vehicle charging solutions

    Energy storage tech
    See in list
8 companies in Gujarat
Mobile reach

Top 10 electric vehicles apps from Gujarat

The most-installed Android apps published by electric vehicles companies headquartered in Gujarat — 79K installs between them. 19 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Joy E-Bike

by Joy e-bike

Installs38K
Rating3.0167 ratings
Last updatedApr 2026
View on Google Play ↗
Joy E-Bike screenshot 1Joy E-Bike screenshot 2Joy E-Bike screenshot 3Joy E-Bike screenshot 4Joy E-Bike screenshot 5Joy E-Bike screenshot 6
2

myHorse Ride

by Horse

Installs16K
Rating—
Last updatedMay 2026
View on Google Play ↗
myHorse Ride screenshot 1myHorse Ride screenshot 2myHorse Ride screenshot 3myHorse Ride screenshot 4myHorse Ride screenshot 5myHorse Ride screenshot 6
3

Joy E-Bike Mihos

by Wardwizard

Installs7K
Rating—
Last updatedNov 2025
View on Google Play ↗
Joy E-Bike Mihos screenshot 1Joy E-Bike Mihos screenshot 2Joy E-Bike Mihos screenshot 3
4

Rhyno Rides

by Rhyno

Installs6K
Rating—
Last updatedMay 2026
View on Google Play ↗
Rhyno Rides screenshot 1Rhyno Rides screenshot 2Rhyno Rides screenshot 3Rhyno Rides screenshot 4Rhyno Rides screenshot 5Rhyno Rides screenshot 6
6

MatterVerse

by MATTER

Installs2K
Rating—
Last updatedApr 2026
View on Google Play ↗
MatterVerse screenshot 1MatterVerse screenshot 2MatterVerse screenshot 3MatterVerse screenshot 4MatterVerse screenshot 5MatterVerse screenshot 6
8

EVegah

by eVegah

Installs1K
Rating—
Last updatedMar 2026
View on Google Play ↗
EVegah screenshot 1EVegah screenshot 2EVegah screenshot 3EVegah screenshot 4EVegah screenshot 5
The business behind the activity

Electric vehicles financials in Gujarat

Revenue, profit and growth from the filed annual accounts of 40 electric vehicles companies in Gujarat for FY24-25 — 51 of the 139 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 91% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹2,265.36 cr

40 companies filing accounts

combined net profit−₹178.66 cr

-7.9% aggregate margin

are profitable40%

16 of 40 companies

median revenue~₹1.2 cr

the typical company

median revenue growth+64%

into FY24-25

earned by the top five91%

revenue concentration

Six-year view

Combined revenue of filing companies

₹882.12 crFY19-2015 filers
₹1,021.80 crFY20-2120 filers
₹1,635.09 crFY21-2225 filers
₹3,067.38 crFY22-2332 filers
₹3,929.81 crFY23-2441 filers
₹2,265.36 crFY24-2540 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 25 companies over three years

+16%
FY22-23₹1,897.84 cr−₹154.61 cr net
FY23-24₹2,557.04 cr₹47.27 cr net
FY24-25₹2,192.76 cr−₹94.33 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1926% profitable
₹1–10 cr1145% profitable
₹10–100 cr757% profitable
₹100–1,000 cr2100% profitable
Over ₹1,000 cr10% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking13
0–20%2
20–50%2
50–100%3
Doubled+16

36 companies with accounts for both years; median growth +64%.

Profitability

Profit is concentrated at the top

16profitable
24loss-making
-7.9%aggregate margin
-4.7%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
VerdeMobilityVERDEMOBILITY INDIA PRIVATE LIMITED+344%₹18.00 cr
Atul GreentechATUL GREENTECH PRIVATE LIMITED+341%₹64.41 cr
Mercury EVMERCURY EV-TECH LIMITED+251%₹69.07 cr
Mindra EVMINDRA EV PRIVATE LIMITED+98%₹58.02 cr
SavëSAVY GREENTECH PRIVATE LIMITED+57%₹23.79 cr
SvitchSvitch Energy Private Limited+31%₹17.98 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
SavëSAVY GREENTECH PRIVATE LIMITED15.6%₹23.79 cr
Mercury EVMERCURY EV-TECH LIMITED9.2%₹69.07 cr
Joy e-bikeWARDWIZARD SOLUTIONS INDIA PRIVATE LIMITED6.3%₹108.07 cr
Mindra EVMINDRA EV PRIVATE LIMITED2.6%₹58.02 cr
WardwizardWARDWIZARD INNOVATIONS & MOBILITY LIMITED2.2%₹302.86 cr
SvitchSvitch Energy Private Limited1.4%₹17.98 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electric vehicles24₹2,126.98 cr~₹99 lakh42%-6.0%
Energy storage tech9₹130.22 cr~₹2.6 cr44%-38.7%
Leaders

Largest electric vehicles companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Tds-GTDS LITHIUM-ION BATTERY GUJARAT PRIVATE LIMITED₹1,506.21 cr−₹48.35 cr-3.2%-21%
WardwizardWARDWIZARD INNOVATIONS & MOBILITY LIMITED₹302.86 cr₹6.79 cr2.2%-5%
Joy e-bikeWARDWIZARD SOLUTIONS INDIA PRIVATE LIMITED₹108.07 cr₹6.81 cr6.3%-41%
Mercury EVMERCURY EV-TECH LIMITED₹69.07 cr₹6.39 cr9.2%+251%
Atul GreentechATUL GREENTECH PRIVATE LIMITED₹64.41 cr−₹15.93 cr-24.7%+341%
Mindra EVMINDRA EV PRIVATE LIMITED₹58.02 cr₹1.52 cr2.6%+98%
ChargeZoneTecso Charge Zone Limited₹58.00 cr−₹50.86 cr-87.7%+6%
SavëSAVY GREENTECH PRIVATE LIMITED₹23.79 cr₹3.72 cr15.6%+57%
VerdeMobilityVERDEMOBILITY INDIA PRIVATE LIMITED₹18.00 cr−₹33.85 lakh-1.9%+344%
SvitchSvitch Energy Private Limited₹17.98 cr₹26.01 lakh1.4%+31%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Electric Vehicles Industry Landscape of India

The financials above are one chapter. The full electric vehicles landscape of Gujarat maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the electric vehicles landscape of Gujarat
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Electric vehicles funding and M&A across India

989 recorded equity rounds have gone to 2,153 electric vehicles companies in India — how much, at which stage, into which sub-sectors, from whom, and how Gujarat compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months38

US$377.01m

equity rounds, last 24 months154

US$1.96bn

raised over five yearsUS$6.64bn

732 rounds in India

M&A deals, India45

last 24 months

Capital by year

Equity funding into electric vehicles in India

amount rounds
$198m201843
$581m201969
$219m202066
$656m2021141
$1.9bn2022175
$1.5bn2023143
$720m2024148
$1.6bn2025104
$276m202621

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$1.92bn across 175 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$44.65m123 rounds · median US$122k
SeedUS$565.05m385 rounds · median US$487k
Series AUS$1.19bn133 rounds · median US$5.92m
Series BUS$1.03bn48 rounds · median US$15.00m
Series CUS$820.57m18 rounds · median US$29.19m
Series D+US$2.85bn23 rounds · median US$48.91m
Private equityUS$144.81m2 rounds · median US$144.81m
Where the money went · five years

Most-funded sub-sectors

Electric vehiclesUS$5.50bn455 rounds · 172 companies
Energy storage techUS$370.79m98 rounds · 41 companies
Road transport techUS$321.68m51 rounds · 15 companies
Alternative lendingUS$120.90m13 rounds · 7 companies
Logistics techUS$98.08m13 rounds · 4 companies
Smart citiesUS$44.35m4 rounds · 2 companies
Auto e-commerce & contentUS$44.33m21 rounds · 5 companies
Corporate activity · last 24 months

M&A in India

42Acquisition
2Merger
1Completed

Most active acquirers

  1. Kpit technologies16
  2. Jupiter Electric Mobility4
  3. A-1 Ltd3
  4. Blusmart2
  5. Vajram Electric2

Most acquired or merged

  1. A-1 sureja industries3
  2. Ather energy2
  3. Caresoft2
  4. Euler motors2
  5. Greenfuel energy solutions2

Each deal appears in the events strip at the top of the page.

Go deeper in the electric vehicles landscape reports:

Electric Vehicles Industry Landscape of India

Electric vehicles funding in Gujarat

7 electric vehicles companies in Gujarat have recorded equity funding, US$187.45m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Gujarat

Meet the people behind electric vehicles companies in Gujarat. 73 of 139 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Gujarat electric vehicles companies by sub-sector

The most common specialisations among electric vehicles companies in Gujarat. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring electric vehicles in India and nearby markets.

Coming soon