Company lists
The Maharashtra edition · 2026

Electric vehiclescompanies in Maharashtra

Scooters & bikes, cars & commercial, charging, batteries, components and more: the companies building electric vehicles in Maharashtra, with their founders, funding, team size and business models.

265 company profiles132 with reported revenue49 with recorded fundingSeptember 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent electric vehicles business events in Maharashtra

Funding, M&A, contract wins and launches involving 333 electric vehicles companies in Maharashtra, last 24 months: 20 M&A deals · 16 Contracts · 16 funding rounds · 6 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: May 2026.

M&AAcquisition · Announced

Kpit acquires Cymotive

KPIT to acquire majority stake Israeli cyber security company Cymotive

Cyber security
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
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.

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
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
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
ContractSupply

Varroc engineering · client: major global electric vehicle (EV) manufacturer

Indian auto component giant Varroc Engineering has secured a significant new contract to supply AC bi-directional wall chargers to a major global electric vehicle (EV) manufacturer,…

Electric Mobility
ContractSupply

Varroc · client: Na

Varroc, a global Tier-1 automotive supplier, has secured a new business order from a leading international electric vehicle (EV) OEM to supply AC bi-directional wall chargers.

Automotive Electronics
FundingPre-Series B

Neuron energy

India’s EV battery startup Neuron Energy has secured ₹31 crore in a Pre-Series B funding round — a move many see as a big vote of confidence in domestic battery manufacturing.

Investors Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office
EV battery manufacturing
FundingPre-Series B

Neuron energy

Neuron Energy, a leading EV battery manufacturer, has raised ₹31 crore in its Pre-Series B funding round

Investors Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office
EV battery manufacturing
FundingDebt and equity

Magenta mobility

This comes less than a year after Magenta raised around ₹100 crore in debt and equity in March.

Electric mobility
LaunchHeavy-duty electric truck

Blue energy motors

Blue Energy Motors has unveiled a game‑changer in freight mobility: a heavy‑duty electric truck equipped with rapid battery‑swapping technology

Electric truck
Funding

Greencell mobility

In September, the International Finance Corporation (IFC) announced $137 million in financing for electric bus makers JBM ECOLIFE (a JBM Auto subsidiary) and GreenCell Mobility

Electric bus
FundingUndisclosed

Blue energy motors

Blue Energy Motors, a player in the electric truck space, raised $30 million from investors including Zerodha’s Nikhil Kamath.

Investors Zerodha’s Nikhil Kamath
Electric truck / EV
M&AAcquisition · Announced

ChargeZone acquires Zerovolt

ChargeZone, India's largest charge point operator, has acquired Zerovolt's Wadala charging facility in Mumbai in an all-cash deal.

LaunchWBMS-SWLT

Webber electrocorp

The WBMS-SWLT, an intelligent battery management system created by Webber Electrocorp, is intended to maximize performance in lithium-ion battery packs.

Battery Management System
LaunchWebber Care Point

Webber electrocorp

Electric Vehicle Technical Company Webber Electrocorp has launched a new service network called ‘Webber Care Point’ to address the lack of After-Sales support in India’s EV market.

Service network
ContractSupply

Montra electric · client: Magenta mobility

Montra Electric will supply 100 units of its recently launched EVIATOR E350L electric small commercial vehicles to Magenta Mobility.

Electric vehicle supply
ContractSupply

Tivolt Electric Private Limited · client: Magenta mobility

Montra Electric’s Small Commercial Vehicle (SCV) division, Tivolt Electric Vehicles, will supply 100 units of its newly launched Eviator E350L electric vehicles to Magenta Mobility.

Logistics
M&AAcquisition · Announced

Remsons industries acquires Astro Motors

Remsons Industries has announced that it has purchased a majority stake in Astro Motors

Electric three-wheeler manufacturer
FundingLong-term loan

Ecofy

Ecofy Finance, a non-banking financial company (NBFC) focused on supporting India’s green transition, has raised INR 104 Crore ( around $12.5 million) long-term loan facility from the…

Investors Investment Fund for Developing Countries (IFU)
FundingPre-Series B

Magenta mobility

Mumbai-based electric mobility startup Magenta Mobility has raised ₹100 Cr (about $11.5 Mn) in a mix of equity and debt in its pre-Series B round.

Investors BP Tech Ventures, Morgan Stanley India Infrastructure, Na
Electric mobility
ContractSupply

Eicher trucks and buses · client: Magenta mobility

Eicher Trucks and Buses has begun the supply of its newly launched Eicher Pro X electric trucks to Magenta Mobility logistics solutions provider.

Logistics
ContractSupply

Eicher Trucks · client: Magenta mobility

Eicher Trucks and Eicher, a business unit of VE Commercial Vehicles announced the commencement of supplies of the Eicher Pro X small truck to Magenta Mobility, a leading logistics…

Logistics
ContractTechnology

Compal electronics · client: Kalyani Powertrain

its wholly-owned subsidiary, Kalyani Powertrain, entered into a technology licensing agreement with Taiwan's Compal Electronics to manufacture X86 platform servers in India.

Technology
ContractService

Jupiter Electric Mobility · client: Pulse energy

We are pleased to announce that Jupiter Electric Mobility Private Limited (“JEM”), Subsidiary of Jupiter Wagons Limited strengthens its EV ecosystem for the growth of its eLCV business.…

Electric Vehicles
ContractTechnology

Trentar Energy Solutions · client: Kpit

Under the collaboration, KPIT will transfer its sodium-ion battery technology to Trentar Energy Solutions to operationalise and commercialise it further. The technology transfer…

Electrical mobility and energy storage
ContractSupply

Aerpace · client: Na

Aerpace Industries Limited, under its key renewable energy initiative, aerVolt, has secured a significant order for the supply of 100 MWp high-efficiency 595 Wp TOPCon technology smart…

Renewable Energy
Funding

Mahindra electric automobile

British International Investments (BII) has fulfilled its 2022 commitment by injecting an additional ₹ 650 crore into Mahindra Electric Automobile Limited (MEAL) as part of its final…

Investors British International Investments, Asian infrastructure investment bank, OP Finnfund Global Impact Fund I, Finnfund
Electric Vehicle

Electric vehicles companies in Maharashtra, by revenue

Browse electric vehicles companies in Maharashtra by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 132 electric vehicles companies in Maharashtra 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 50

Manufacturer of electric cars

Electric vehicles
₹15,247.00 crFY 2024-25
+47%2024–2025
1,169LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Manufacturer of automotive components

Auto components
₹8,171.77 crFY 2024-25
+8%2024–2025
350recorded
38 yr1988
7postings · last posted Sep 2026

Autonomous driving solutions for vehicles

Electric vehicles
₹6,009.67 crFY 2024-25
+22%2024–2025
16,870+13% 12 mo to Sep 2024LinkedIn · Jul 2026
36 yr1990
3postings · last posted Aug 2026

Developer of lithium-ion battery packs for multi-cateory electric vehicles

Energy storage tech
₹489.83 crFY 2024-25
-20%2024–2025
40+3900% 12 mo to Jun 2023recorded Jun 2023
44 yr1982
0none in 3 months

Manufacturer of electric scooters and multi-utility electric vehicles for transportation

Electric vehicles
₹267.30 crFY 2024-25
+19%2024–2025
1LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Manufacturer of electric vehicle powertrains, battery systems, and energy storage

Auto components
₹258.04 crFY 2024-25
-28%2024–2025
288+22% 12 mo to Aug 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months · last posted Apr 2026

Manufacturer of electric buses trucks and small commercial transport vehicles

Electric vehicles
₹242.22 crFY 2024-25
+335%2024–2025
1,048+83% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Manufacturer of electric scooters designed for urban and developing environments

Electric vehicles
₹238.88 crFY 2024-25
+34%2024–2025
499+16% 12 mo to Jul 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Manufacturer of electric scooters, three-wheelers, and golf carts for transportation

Electric vehicles
₹220.32 crFY 2024-25
-25%2024–2025
1+17% 12 mo to Aug 2024LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Platform offering heavy duty trucks

Electric vehicles
₹141.87 crFY 2024-25
Not reported
159+26% 12 mo to Mar 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Electric vehicle company offering a range of premium e-bikes and accessories

Electric vehicles
₹118.50 crFY 2024-25
-8%2024–2025
276-18% vs previous recordLinkedIn · Jul 2026
6 yr2020
4postings · last posted Sep 2026

Manufacturer of automotive vehicles, components, and customized logistics supply chain solutions

Electric vehicles
₹117.75 crFY 2024-25
+13547%2024–2025
52LinkedIn · Jul 2026
3 yr2023
0none in 3 months

Developer of electric scooters

Electric vehicles
₹111.93 crFY 2024-25
-35%2024–2025
228+98% vs previous recordrecorded
26 yr2000
0none in 3 months

Financial solutions for the electric vehicle, solar, and SME sectors

Alternative lending
₹106.91 crFY 2024-25
+206%2024–2025
422+75% 12 mo to Sep 2024LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Manufacturer of lithium-ion batteries for electric vehicles and energy storage

Energy storage tech
₹106.54 crFY 2024-25
+68%2024–2025
117+60% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Provider of lithium-ion battery and energy storage solutions

Electric vehicles
₹105.26 crFY 2024-25
+429%2024–2025
193+84% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Manufacturer of electric scooters, components, financial information, and investor resources

Electric vehicles
₹102.12 crFY 2024-25
+4860%2024–2025
21LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Provider of electric vehicle fleets and charging infrastructure management services

Logistics tech
₹83.07 crFY 2024-25
+89%2024–2025
365+3% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Jun 2026

Manufacturer of electric scooters

Electric vehicles
₹72.36 crFY 2024-25
+102%2024–2025
11-20% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Provider of electric vehicle charging solutions

Energy storage tech
₹70.53 crFY 2024-25
+1%2024–2025
1-2% 12 mo to Sep 2024LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Provider of high performance electric vehicles and charging infrastructure manufacturing solutions

Electric vehicles
₹59.57 crFY 2023-24
Not reported
118+8% 12 mo to Apr 2024LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Manufacturer of multiple categories of electric two-wheelers

Electric vehicles
₹57.56 crFY 2024-25
+56%2024–2025
45+67% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Manufacturer of electric scooters

Electric vehicles
₹51.85 crFY 2024-25
+18%2024–2025
87+27% 12 mo to Sep 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Manufacturer of electric vehicle powertrains and high-efficiency synchronous industrial motors

Electric vehicles
₹50.65 crFY 2024-25
+55%2024–2025
119+44% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Provider of thermal energy systems for heating installations of various sizes

Electric vehicles
₹43.79 crFY 2024-25
+62%2024–2025
55-27% 12 mo to Sep 2024recorded Sep 2024
6 yr2020
0none in 3 months
50 of 265 companies shown here · the full list is on Radar
Fliar Radar

Explore all 265 electric vehicles companies in Maharashtra on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open electric vehicles in Maharashtra on Radar
  • Every company, not just 50All 265 electric vehicles companies in Maharashtra, 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.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore electric vehicles companies in Maharashtra by what you are looking for

Browse the top electric vehicles companies in Maharashtra, from electric scooter and bike makers to EV charging and battery firms. Find electric vehicle startups in Maharashtra and EV manufacturing companies in one list.

9 ways to explore electric vehicles in Maharashtra

Electric scooter, bike & two-wheeler manufacturersElectric car & commercial vehicle makersEV charging station & infrastructure companiesEV battery & energy storage companiesEV components, motors & powertrain companiesEV rental, subscription & shared mobility companies

Electric scooter, bike & two-wheeler manufacturers

Makers of electric scooters, motorcycles and bicycles.

  1. BGauss

    Manufacturer of electric scooters designed for urban and developing environments

    Electric vehicles
    See in list
  2. EMotorad

    Electric vehicle company offering a range of premium e-bikes and accessories

    Electric vehicles
    See in list
  3. Chetak

    Developer of electric scooters

    Electric vehicles
    See in list
  4. Raft Cosmic EV

    Manufacturer of electric scooters, components, financial information, and investor resources

    Electric vehicles
    See in list
  5. Tork Motors

    Provider of high performance electric vehicles and charging infrastructure manufacturing solutions

    Electric vehicles
    See in list
53 companies in Maharashtra

Electric car & commercial vehicle makers

Makers of electric cars, buses, trucks and cargo vehicles.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. EKA

    Manufacturer of electric buses trucks and small commercial transport vehicles

    Electric vehicles
    See in list
  3. Blue Energy Motors

    Platform offering heavy duty trucks

    Electric vehicles
    See in list
  4. Aeroeagle

    Manufacturer of automotive vehicles, components, and customized logistics supply chain solutions

    Electric vehicles
    See in list
  5. Enviiirowheels

    Provider of electric and green-fuel commercial vehicles for sustainable transportation

    Logistics tech
    See in list
76 companies in Maharashtra

EV charging station & infrastructure companies

Providers of electric vehicle charging stations and software.

  1. Magenta

    Provider of electric vehicle fleets and charging infrastructure management services

    Logistics tech
    See in list
  2. VoltUp

    Provider of battery swapping for electric two- and three-wheelers to support urban mobility

    Energy storage tech
    See in list
  3. Apple Energy

    Provider of batteries and chargers

    Electric vehicles
    See in list
  4. Eeevv

    Provider and operator of charging stations and networks for EVs

    Energy storage tech
    See in list
  5. Ioemas

    Provider of electric vehicle chargers

    Electric vehicles
    See in list

EV battery & energy storage companies

Makers of lithium-ion batteries, packs and battery swapping.

  1. Battrixx

    Developer of lithium-ion battery packs for multi-cateory electric vehicles

    Energy storage tech
    See in list
  2. Blue Energy Motors

    Platform offering heavy duty trucks

    Electric vehicles
    See in list
  3. Neuron Energy

    Manufacturer of lithium-ion batteries for electric vehicles and energy storage

    Energy storage tech
    See in list
  4. Magenta

    Provider of electric vehicle fleets and charging infrastructure management services

    Logistics tech
    See in list
  5. VoltUp

    Provider of battery swapping for electric two- and three-wheelers to support urban mobility

    Energy storage tech
    See in list

EV components, motors & powertrain companies

Suppliers of motors, controllers, powertrains and conversion kits.

  1. Varroc

    Manufacturer of automotive components

    Auto components
    See in list
  2. KPIT

    Autonomous driving solutions for vehicles

    Electric vehicles
    See in list
  3. Electra EV

    Manufacturer of electric vehicle powertrains, battery systems, and energy storage

    Auto components
    See in list
  4. Matel

    Manufacturer of electric vehicle powertrains and high-efficiency synchronous industrial motors

    Electric vehicles
    See in list
  5. Epavo

    Provider of thermal energy systems for heating installations of various sizes

    Electric vehicles
    See in list

EV rental, subscription & shared mobility companies

Platforms for renting, subscribing to and sharing electric vehicles.

  1. Magenta

    Provider of electric vehicle fleets and charging infrastructure management services

    Logistics tech
    See in list
  2. Exa Mobility

    Provider of electric two-wheeler rental platform

    Electric vehicles
    See in list
  3. ONN

    Online rental platform for electric scooters, bicycles and motorbikes

    Road transport tech
    Website
  4. Trueno

    App-based platform offering electric scooter subscription services

    Road transport tech
    Website
  5. eZpedal

    Worlds first electric bicycle rideshare on IEC Standard

    Road transport tech
    Website

Electric vehicle startups in Maharashtra

Newer electric vehicle companies founded in recent years.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. Aeroeagle

    Manufacturer of automotive vehicles, components, and customized logistics supply chain solutions

    Electric vehicles
    See in list
  3. Ecofy

    Financial solutions for the electric vehicle, solar, and SME sectors

    Alternative lending
    See in list
  4. Weber Drivetrain

    Weber Drivetrain - Manufacturing of Electric motors and controllers

    Auto components
    See in list
  5. Hayasa E-Mobility

    Manufacturer of electric two and three-wheeled vehicles for personal transport

    Electric vehicles
    See in list
57 companies in Maharashtra

Electric vehicle companies hiring in Maharashtra

EV companies with open roles right now.

  1. Varroc

    Manufacturer of automotive components

    Auto components
    See in list
  2. KPIT

    Autonomous driving solutions for vehicles

    Electric vehicles
    See in list
  3. Electra EV

    Manufacturer of electric vehicle powertrains, battery systems, and energy storage

    Auto components
    See in list
  4. BGauss

    Manufacturer of electric scooters designed for urban and developing environments

    Electric vehicles
    See in list
  5. EMotorad

    Electric vehicle company offering a range of premium e-bikes and accessories

    Electric vehicles
    See in list
17 companies in Maharashtra

Listed electric vehicle companies in Maharashtra

Publicly listed EV companies; demand EV stocks.

  1. Varroc

    Manufacturer of automotive components

    Auto components
    See in list
  2. KPIT

    Autonomous driving solutions for vehicles

    Electric vehicles
    See in list
  3. aerpace

    Developer of flying cars

    Electric vehicles
    Website
3 companies in Maharashtra
Mobile reach

Top 10 electric vehicles apps from Maharashtra

The most-installed Android apps published by electric vehicles companies headquartered in Maharashtra — 826K installs between them. 34 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Chetak

by Chetak

Installs430K
Rating—
Last updatedMay 2026
View on Google Play ↗
Chetak screenshot 1Chetak screenshot 2Chetak screenshot 3Chetak screenshot 4Chetak screenshot 5
4

SHRIDE - Electric Bike Rentals

by Shride

Installs50K
Rating—
Last updatedAug 2023
View on Google Play ↗
SHRIDE - Electric Bike Rentals screenshot 1SHRIDE - Electric Bike Rentals screenshot 2SHRIDE - Electric Bike Rentals screenshot 3SHRIDE - Electric Bike Rentals screenshot 4SHRIDE - Electric Bike Rentals screenshot 5SHRIDE - Electric Bike Rentals screenshot 6
5

Bijlify EV Charging

by Bijlify

Installs33K
Rating—
Last updatedFeb 2026
View on Google Play ↗
Bijlify EV Charging screenshot 1Bijlify EV Charging screenshot 2Bijlify EV Charging screenshot 3Bijlify EV Charging screenshot 4Bijlify EV Charging screenshot 5Bijlify EV Charging screenshot 6
7

BGauss | ElectricScooter India

by BGauss

Installs28K
Rating—
Last updatedMay 2026
View on Google Play ↗
BGauss | ElectricScooter India screenshot 1BGauss | ElectricScooter India screenshot 2BGauss | ElectricScooter India screenshot 3BGauss | ElectricScooter India screenshot 4BGauss | ElectricScooter India screenshot 5
8

Quiklyz

by Quiklyz

Installs24K
Rating—
Last updatedNov 2025
View on Google Play ↗
Quiklyz screenshot 1Quiklyz screenshot 2Quiklyz screenshot 3Quiklyz screenshot 4Quiklyz screenshot 5Quiklyz screenshot 6
9

goME - EV Charging Network

by goEgo

Installs23K
Rating—
Last updatedMay 2026
View on Google Play ↗
goME - EV Charging Network screenshot 1goME - EV Charging Network screenshot 2goME - EV Charging Network screenshot 3goME - EV Charging Network screenshot 4goME - EV Charging Network screenshot 5goME - EV Charging Network screenshot 6
The business behind the activity

Electric vehicles financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 114 electric vehicles companies in Maharashtra for FY24-25 — 138 of the 265 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 93% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹28,070.83 cr

114 companies filing accounts

combined net profit₹329.72 cr

1.2% aggregate margin

are profitable33%

37 of 114 companies

median revenue~₹1.1 cr

the typical company

median revenue growth+28%

into FY24-25

earned by the top five93%

revenue concentration

Six-year view

Combined revenue of filing companies

₹4,142.04 crFY19-2042 filers
₹4,026.70 crFY20-2160 filers
₹5,756.87 crFY21-2278 filers
₹7,796.99 crFY22-2396 filers
₹21,685.19 crFY23-24107 filers
₹28,070.83 crFY24-25114 filers

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

Like-for-like

The same 83 companies over three years

+257%
FY22-23₹7,782.00 cr−₹1,620.54 cr net
FY23-24₹21,579.26 cr₹185.16 cr net
FY24-25₹27,759.60 cr₹339.32 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 cr5313% profitable
₹1–10 cr3145% profitable
₹10–100 cr1644% profitable
₹100–1,000 cr1155% profitable
Over ₹1,000 cr3100% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking33
0–20%12
20–50%14
50–100%12
Doubled+28

99 companies with accounts for both years; median growth +28%.

Profitability

Profit is concentrated at the top

37profitable
75loss-making
1.2%aggregate margin
-31.3%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
ASR Control Solutions SystemsASR CONTROL SOLUTION SYSTEMS PRIVATE LIMITED
REPLUS EngitechREPLUS ENGITECH PRIVATE LIMITED+429%₹105.26 cr
VoltUpAMPUP ENERGY PRIVATE LIMITED
Cab-eezCAB-EEZ INFRA TECH LIMITED
Nk E-bikeENGTIAN ELECTRIC BIKE PRIVATE LIMITED+102%₹72.36 cr
MagentaMAGENTA EV SOLUTIONS PRIVATE LIMITED+92%₹82.76 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
KPITKPIT TECHNOLOGIES LIMITED18.2%₹2,645.93 cr
Raft Cosmic EVRAFT MOTORS LIMITED15.9%₹102.12 cr
Nk E-bikeENGTIAN ELECTRIC BIKE PRIVATE LIMITED15.3%₹72.36 cr
ChetakBAJAJ AUTO TECHNOLOGY LIMITED14.9%₹111.93 cr
Lords AutomativeLORDS MARK TECH NEXT PRIVATE LIMITED8.7%₹51.85 cr
AeroeagleAEROEAGLE AUTOMOBILES PRIVATE LIMITED7.0%₹117.75 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electric vehicles82₹19,567.55 cr~₹67 lakh31%0.6%
Auto components5₹7,668.17 cr~₹11.8 cr20%3.4%
Energy storage tech18₹735.18 cr~₹3.0 cr50%3.7%
Leaders

Largest electric vehicles companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Tata Passenger Electric MobilityTATA PASSENGER ELECTRIC MOBILITY LIMITED₹15,247.00 cr₹95.00 cr0.6%+47%
VarrocVarroc Engineering Limited₹7,396.21 cr₹275.85 cr3.7%+10%
KPITKPIT TECHNOLOGIES LIMITED₹2,645.93 cr₹481.84 cr18.2%+27%
BattrixxKABRA EXTRUSION TECHNIK LTD₹489.83 cr₹33.87 cr6.9%-20%
Jitendra New EV TechJITENDRA WHEELS (NASIK) PRIVATE LIMITED₹267.30 cr₹5.24 cr2.0%+19%
Electra EVELECTRODRIVE POWERTRAIN SOLUTIONS PRIVATE LIMITED₹258.04 cr−₹9.60 cr-3.7%-28%
Kinetic GreenKINETIC GREEN ENERGY AND POWER SOLUTIONS LIMITED₹220.32 cr−₹80.05 cr-36.3%-25%
Blue Energy MotorsBLUE ENERGY MOTORS LIMITED₹141.87 cr−₹13.65 cr-9.6%-8%
EMotoradINKODOP TECHNOLOGIES PRIVATE LIMITED₹124.20 cr−₹53.09 cr-42.7%-2%
AeroeagleAEROEAGLE AUTOMOBILES PRIVATE LIMITED₹117.75 cr₹8.27 cr7.0%—
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 Maharashtra 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 Maharashtra
For investors and data teams

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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 Maharashtra compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months44

US$442.61m

equity rounds, last 24 months162

US$2.01bn

raised over five yearsUS$6.64bn

732 rounds in India

M&A deals, Maharashtra20

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 Maharashtra

20Acquisition

Most active acquirers

  1. Kpit technologies16
  2. Vajram Electric2
  3. ChargeZone1
  4. Remsons industries1

Most acquired or merged

  1. Caresoft2
  2. Cymotive1
  3. Maj Jorites Tech1
  4. Cymotive technologies1
  5. N-dream ag1

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 Maharashtra

49 electric vehicles companies in Maharashtra have recorded equity funding, US$1.69bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Maharashtra

Meet the people behind electric vehicles companies in Maharashtra. 171 of 265 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Maharashtra electric vehicles companies by sub-sector

The most common specialisations among electric vehicles companies in Maharashtra. 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.

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