EV visionboard

by ei.market

Q1
CY2023
EV Competitive Analysis &
Benchmarking in India
– Quarterly Insight
 EV visionboard
by ei.market

06
Competitive Analysis
& Benchmarking
Competition Landscaping & Benchmarking
Snapshot
As per Eninrac’s EV Vision board, Hero Electric has the minimum price range and maximum number of variants in the E2W category & TVS
motors has the maximum price range in the E2W category as of Mar’2023.
Exhibit no: 5.1
Minimum Price range EVs of Top OEMs in India as of MAR,2023 Maximum Price Range EVs of Top OEMs in India as of MAR,2023

Hero Electric TVS Motor

INR 67,329 – INR 86,490 INR 1,25,000 – INR 1,61,056
Two Wheeler Two Wheeler

Saera Electric Piaggio Electric

INR 1,26,000 – INR 1,35,490 INR 2,80,000 – INR 3,50,000
Three Wheeler Three Wheeler

Switch Mobility TATA Motors

INR 20,00,000 – INR 2,00,00,000 INR 67,329 – INR 86,490
E-Buses E-Buses
Source: Eninrac EI Market, Channel Checks
Competition Landscaping & Benchmarking Of
E2W
As per Eninrac’s EV Vision board, Hero Electric has the minimum price range and maximum number of variants in the E2W category & TVS
motors has the maximum price range in the E2W category as of Mar’2023.
Exhibit no: 5.2
Key Players Parameters

Origin Manufacturing Geographic Production Sales Revenue Product Typical Price Range Targeted
Facilities Presence Capacity (Last (Last Portfolio (INR) Manufacturing
Quarter) Quarter) (No. of Expansion
Variants)
1
OLA Electric Krishnagiri South 5,00,000 3 84,999 - 1,29,000 20,00,000
74620

1
TVS Motors Chennai South 1,20,000 3 5,00,000
49181 1,25,000 - 1,61,056

2
Ather Energy Bengaluru, Hosur South 4,20,000 38978 2 1,08,895 - 1,31,905 10,00,000

1
Ampere Electric Ranipet South 1,20,000 24,032 3 69,900 – 1,09,900 10,00,000

2
Hero Electric Ludhiana, Salarpur PAN India 5,00,000 6 20,00,000
27,294 67,329 - 86,490

Source: Eninrac EI Market, MNRE, Channel Checks

 Competition Landscaping & Benchmarking Of
E3W
As per Eninrac’s EV Vision board, Piaggio Electric has the maximum price range of E3W, and Atul Auto has a maximum number of variants in
the E3W category. The Saera Electric has been considered in the minimum price range E3W category as of Mar’2023.
Exhibit no: 5.3
Key Players Parameters

Origin Manufacturing Geographic Production Sales Revenue Product Typical Price Range Targeted
Facilities Presence Capacity (Last (Last Portfolio (INR) Manufacturing
Quarter) Quarter) (No. of Expansion
Variants)
1
Mahindra & Bengaluru South 30,000 4 1,00,000
Mahindra 1,10,000 - 3,20,000
11695

1
YC Electric New Delhi North 60,000 4 NA
9863 1,30,000 - 1,70,000

2
Saera Electric Haryana North 60,000 3 NA
6373 1,26,895 - 1,35,905

1
Piaggio Electric Baramati West 3,50,000 1870 4 2,80,000 – 3,50,000 7,00,000

2
Atul Auto Ahmedabad West 60,000 8 NA
360 1,12,000- 1,50,000
Source: Eninrac EI Market, MNRE, Channel Checks
 Competition Landscaping & Benchmarking Of E-
Buses
As per Eninrac’s EV Vision board, Switch Mobility has the minimum price range for E-buses & has the maximum number of variants in the E-
buses category. TATA motors have the maximum price range in the E-buses category in India as of Mar’2023.
Exhibit no: 5.4
Key Players Parameters

Origin Manufacturing Geographic Production Sales Revenue Product Typical Price Range Targeted
Facilities Presence Capacity (Last (Last Portfolio (INR) Manufacturing
Quarter) Quarter) (No. of Expansion
Variants)

PMI Electro 1
Mobility Rewari North 2,400 170 1 1,25,00,000 2500

1
Olectra Hyderabad South 1,500 1 10,000
69 2,00,00,000

1
JBM Auto Faridabad North 3,000 18 1 2,00,00,000 NA

1
TATA Motors Jamshedpur East 7,000 28 1 2,20,00,000 NA

1
Switch Mobility Tamil Nadu South 2,500 3 8000
111 20,00,000 – 2,00,00,000
Source: Eninrac EI Market, MNRE, Channel Checks