Company lists
The Mumbai edition · 2026

Electric vehiclescompanies in Mumbai

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

105 company profiles58 with reported revenue23 with recorded fundingOctober 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

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 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
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
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 Mumbai, by revenue

Browse electric vehicles companies in Mumbai 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 58 electric vehicles companies in Mumbai, 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

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 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

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

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
₹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

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

Operator of a technology platform providing all-electric vehicle cab booking services

Electric vehicles
₹36.85 crFY 2024-25
+142%2024–2025
44+31% 12 mo to Jun 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Developer of electric scooters and motorbikes

Electric vehicles
₹32.50 crFY 2024-25
+15%2024–2025
—Not available
6 yr2020
0none in 3 months

Manufacturer of multiple categories of two-wheelers

Electric vehicles
₹15.10 crFY 2021-22
-4779%2021–2022
—Not available
7 yr2019
0none in 3 months

Provider of batteries and chargers

Electric vehicles
₹14.89 crFY 2024-25
+6%2024–2025
36+46% 12 mo to Mar 2024LinkedIn · Jul 2026
17 yr2009
0none in 3 months

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

Logistics tech
₹10.01 crFY 2024-25
+587%2024–2025
22LinkedIn · Jul 2026
3 yr2023
0none in 3 months

Manufacturer of electric two and three-wheeled vehicles for various applications

Road transport tech
₹5.11 crFY 2023-24
-11%2023–2024
104LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Dec 2025

Platform offering for electric vehicle charger management

Electric vehicles
₹3.91 crFY 2024-25
Not reported
22LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Manufacturer of electric bicycles and related parts and accessories for sale

Electric vehicles
₹3.84 crFY 2024-25
+550%2024–2025
68LinkedIn · Jul 2026
11 yr2015
1postings · last posted Sep 2026

Provider of SaaS-driven station management solutions for EV charging stations

Energy storage tech
₹3.69 crFY 2024-25
+2%2024–2025
24LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Online rental platform for electric scooters, bicycles and motorbikes

Road transport tech
₹3.18 crFY 2023-24
+6%2023–2024
7+40% 12 mo to Sep 2024recorded Sep 2024
6 yr2020
0none in 3 months

Manufacturer of electric two-wheelers, three-wheelers, smart wheelchairs, and trikes

Electric vehicles
₹2.48 crFY 2024-25
+1699%2024–2025
13+278% 12 mo to Jun 2024LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Manufacturer of electric rickshaws

Electric vehicles
₹1.78 crFY 2021-22
+297%2021–2022
—Not available
8 yr2018
0none in 3 months

App-based platform offering electric scooter subscription services

Road transport tech
₹1.88 crFY 2024-25
+149%2024–2025
62LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Smart electric vehicle charging solutions provider

Energy storage tech
₹1.60 crFY 2023-24
Not reported
18LinkedIn · Jul 2026
21 yr2005
0none in 3 months

Subscription-based online rental platform for power banks

Energy storage tech
₹1.60 crFY 2024-25
+180%2024–2025
12-88% 12 mo to Mar 2021LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Manufacture of electric scooters

Electric vehicles
₹1.38 crFY 2024-25
+35%2024–2025
19LinkedIn · Jul 2026
10 yr2016
0none in 3 months · last posted Jun 2026
50 of 105 companies shown here · the full list is on Radar
Fliar Radar

Explore all 105 electric vehicles companies in Mumbai on Radar

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

Open electric vehicles in Mumbai on Radar
  • Every company, not just 50All 105 electric vehicles companies in Mumbai, 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 Mumbai by what you are looking for

Discover electric vehicles companies in Mumbai, from electric scooter and electric car makers to charging and battery providers. Browse EV companies and electric vehicle startups in Mumbai by what they offer.

8 ways to explore electric vehicles in Mumbai

Electric scooter, bike & two-wheeler makersElectric car & commercial vehicle makersEV charging stations & charger companiesEV battery & battery swapping companiesEV rental, subscription & shared mobilityElectric delivery fleets & logistics

Electric scooter, bike & two-wheeler makers

Manufacturers of electric scooters, motorcycles and bicycles.

  1. BGauss

    Manufacturer of electric scooters designed for urban and developing environments

    Electric vehicles
    See in list
  2. Raft Cosmic EV

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

    Electric vehicles
    See in list
  3. Epavo

    Provider of thermal energy systems for heating installations of various sizes

    Electric vehicles
    See in list
  4. Odysse

    Developer of electric scooters and motorbikes

    Electric vehicles
    See in list
  5. Blix

    Manufacturer of multiple categories of two-wheelers

    Electric vehicles
    See in list

Electric car & commercial vehicle makers

Makers of electric cars, utility and cargo vehicles.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. Battrixx

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

    Energy storage tech
    See in list
  3. BGauss

    Manufacturer of electric scooters designed for urban and developing environments

    Electric vehicles
    See in list
  4. Neuron Energy

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

    Energy storage tech
    See in list
  5. Raft Cosmic EV

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

    Electric vehicles
    See in list

EV charging stations & charger companies

Providers of EV chargers, charging networks and charging station software.

  1. Magenta

    Provider of electric vehicle fleets and charging infrastructure management services

    Logistics tech
    See in list
  2. Apple Energy

    Provider of batteries and chargers

    Electric vehicles
    See in list
  3. Pulse Energy

    Platform offering for electric vehicle charger management

    Electric vehicles
    See in list
  4. Bijlify

    Provider of SaaS-driven station management solutions for EV charging stations

    Energy storage tech
    See in list
  5. PlugO

    Subscription-based online rental platform for power banks

    Energy storage tech
    See in list

EV battery & battery swapping companies

Makers of lithium-ion battery packs and battery swapping services.

  1. Battrixx

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

    Energy storage tech
    See in list
  2. Neuron Energy

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

    Energy storage tech
    See in list
  3. Apple Energy

    Provider of batteries and chargers

    Electric vehicles
    See in list
  4. Mechatron

    Provider of charging solutions for EVs

    Electric vehicles
    Website
  5. Altergo

    Digital twin platform offering analytics and battery science solution

    Energy storage tech
    Website

EV rental, subscription & shared mobility

Platforms for renting, subscribing to or sharing electric cars and scooters.

  1. Cab-eez

    Operator of a technology platform providing all-electric vehicle cab booking services

    Electric vehicles
    See in list
  2. ONN

    Online rental platform for electric scooters, bicycles and motorbikes

    Road transport tech
    See in list
  3. Trueno

    App-based platform offering electric scooter subscription services

    Road transport tech
    See in list
  4. Quiklyz

    Online car subscription platform

    Auto e-commerce & content
    Website
  5. Earth5R

    Earth5R was founded by Saurabh Gupta who quit his job at Cafe Coffee Day India to bicycle around different countries, riding more than 50,000 kms in little more than two years.

    Green transport
    Website

Electric delivery fleets & logistics

Electric fleets and last-mile delivery vehicle providers.

  1. Magenta

    Provider of electric vehicle fleets and charging infrastructure management services

    Logistics tech
    See in list
  2. Enviiirowheels

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

    Logistics tech
    See in list
  3. Ridezzy

    Platform offering electric scooter rentals for delivery and other purposes

    Electric vehicles
    Website
  4. Khaniya Mobility

    Electric vehicle manufacturing startup developing EVs for delivery purposes

    Electric vehicles
    Website
  5. Cab-eez

    Operator of a technology platform providing all-electric vehicle cab booking services

    Electric vehicles
    See in list

Electric vehicle startups in Mumbai

Recently founded electric vehicle startups in Mumbai.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. Ecofy

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

    Alternative lending
    See in list
  3. Enviiirowheels

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

    Logistics tech
    See in list
  4. Vajram Electric

    Manufacturer of electric two-wheelers, three-wheelers, smart wheelchairs, and trikes

    Electric vehicles
    See in list
  5. ProsParity

    Financing platform for electric mobility

    Alternative lending
    See in list
30 companies in Mumbai

Electric vehicles companies hiring in Mumbai

EV companies in Mumbai with open roles.

  1. BGauss

    Manufacturer of electric scooters designed for urban and developing environments

    Electric vehicles
    See in list
  2. Magenta

    Provider of electric vehicle fleets and charging infrastructure management services

    Logistics tech
    See in list
  3. eBikeGo

    Manufacturer of electric two and three-wheeled vehicles for various applications

    Road transport tech
    See in list
  4. Pulse Energy

    Platform offering for electric vehicle charger management

    Electric vehicles
    See in list
  5. Nexzu Mobility

    Manufacturer of electric bicycles and related parts and accessories for sale

    Electric vehicles
    See in list
12 companies in Mumbai
Mobile reach

Top 10 electric vehicles apps from Mumbai

The most-installed Android apps published by electric vehicles companies headquartered in Mumbai — 265K installs between them. 12 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
2

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
4

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
5

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
6

EVJoints: EV Trip Planner

by EVJoints

Installs12K
Rating—
Last updatedJan 2026
View on Google Play ↗
EVJoints: EV Trip Planner screenshot 1EVJoints: EV Trip Planner screenshot 2EVJoints: EV Trip Planner screenshot 3EVJoints: EV Trip Planner screenshot 4EVJoints: EV Trip Planner screenshot 5EVJoints: EV Trip Planner screenshot 6
9

Jolt Install Partner

by BrightBlu

Installs654
Rating—
Last updatedMay 2026
View on Google Play ↗
Jolt Install Partner screenshot 1Jolt Install Partner screenshot 2Jolt Install Partner screenshot 3Jolt Install Partner screenshot 4Jolt Install Partner screenshot 5Jolt Install Partner screenshot 6
The business behind the activity

Electric vehicles financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 50 electric vehicles companies in Mumbai, Maharashtra for FY24-25 — 64 of the 105 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 99% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹16,254.45 cr

50 companies filing accounts

combined net profit₹35.06 cr

0.2% aggregate margin

are profitable28%

14 of 50 companies

median revenue~₹60 lakh

the typical company

median revenue growth+38%

into FY24-25

earned by the top five99%

revenue concentration

Six-year view

Combined revenue of filing companies

₹250.51 crFY19-2020 filers
₹311.70 crFY20-2128 filers
₹521.09 crFY21-2235 filers
₹1,088.47 crFY22-2346 filers
₹11,241.84 crFY23-2447 filers
₹16,254.45 crFY24-2550 filers

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

Like-for-like

The same 37 companies over three years

+1389%
FY22-23₹1,083.82 cr−₹287.85 cr net
FY23-24₹11,167.62 cr−₹514.05 cr net
FY24-25₹16,134.99 cr₹41.42 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 cr2814% profitable
₹1–10 cr1136% profitable
₹10–100 cr729% profitable
₹100–1,000 cr3100% profitable
Over ₹1,000 cr1100% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking14
0–20%5
20–50%4
50–100%5
Doubled+15

43 companies with accounts for both years; median growth +38%.

Profitability

Profit is concentrated at the top

14profitable
35loss-making
0.2%aggregate margin
-40.1%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
Cab-eezCAB-EEZ INFRA TECH LIMITED+142%₹36.85 cr
MagentaMAGENTA EV SOLUTIONS PRIVATE LIMITED+92%₹82.76 cr
Neuron EnergyNEURON ENERGY PRIVATE LIMITED+68%₹106.54 cr
EpavoEPAVO ELECTRICALS PRIVATE LIMITED+62%₹43.79 cr
Tata Passenger Electric MobilityTATA PASSENGER ELECTRIC MOBILITY LIMITED+47%₹15,247.00 cr
Lords AutomativeLORDS MARK TECH NEXT PRIVATE LIMITED+18%₹51.85 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Raft Cosmic EVRAFT MOTORS LIMITED15.9%₹102.12 cr
Lords AutomativeLORDS MARK TECH NEXT PRIVATE LIMITED8.7%₹51.85 cr
BattrixxKABRA EXTRUSION TECHNIK LTD6.9%₹489.83 cr
Apple EnergyAPPLE ENERGY PRIVATE LIMITED1.3%₹14.89 cr
Neuron EnergyNEURON ENERGY PRIVATE LIMITED0.7%₹106.54 cr
Tata Passenger Electric MobilityTATA PASSENGER ELECTRIC MOBILITY LIMITED0.6%₹15,247.00 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electric vehicles38₹15,555.14 cr~₹43 lakh26%0.4%
Energy storage tech7₹603.43 cr~₹1.6 cr43%5.4%
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%
BattrixxKABRA EXTRUSION TECHNIK LTD₹489.83 cr₹33.87 cr6.9%-20%
Neuron EnergyNEURON ENERGY PRIVATE LIMITED₹106.54 cr₹76.07 lakh0.7%+68%
Raft Cosmic EVRAFT MOTORS LIMITED₹102.12 cr₹16.20 cr15.9%>10×
MagentaMAGENTA EV SOLUTIONS PRIVATE LIMITED₹82.76 cr−₹63.12 cr-76.3%+92%
Lords AutomativeLORDS MARK TECH NEXT PRIVATE LIMITED₹51.85 cr₹4.50 cr8.7%+18%
EpavoEPAVO ELECTRICALS PRIVATE LIMITED₹43.79 cr−₹6.98 cr-15.9%+62%
Cab-eezCAB-EEZ INFRA TECH LIMITED₹36.85 cr−₹11.52 cr-31.3%+142%
OdysseODYSSE ELECTRIC VEHICLES PRIVATE LIMITED₹32.50 cr−₹1.33 cr-4.1%+15%
Apple EnergyAPPLE ENERGY PRIVATE LIMITED₹14.89 cr₹19.96 lakh1.3%+6%
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 Mumbai 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 Mumbai
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 Mumbai 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.

Electric vehicles funding in Mumbai

23 electric vehicles companies in Mumbai have recorded equity funding, US$1.29bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind electric vehicles companies in Mumbai. 76 of 105 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai electric vehicles companies by sub-sector

The most common specialisations among electric vehicles companies in Mumbai. 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