Bajaj Auto occupies third place in May 2024, ahead of Atheer Energy once again. The company recorded sales of 9,189 compared to 7,755 sales in April. Monthly growth is 18%, and market share is 14%. In the recently launched NSE EV index, Bajaj Auto’s weight is 7.08%, which is significant.
4) Other energy
Bengaluru-based smart EV OEM Ather Energy recorded sales of 6,024 units in May 2024, achieving a market share of 9.45% and a month-on-month growth of 32%. Recently, the company raised Rs 286 crore ($34 million) from its founders and Stride Ventures in a mix of debt and equity financing. Ather’s founders, Tarun Mehta and Swapnil Jain, invested Rs 86 crore in the company through Series F compulsorily convertible preference shares. On April 6, Ather launched the new Rizta priced from Rs 109,999 (Rizta S) to Rs 149,999 (Rizta Z).
5) Hero Motorcorp
Hero MotoCorp ranks fifth in May 2024 with sales of 2,453 units, up 157% from April sales of 955 units. This results in a monthly growth of 61% and a market share of 4%. The company plans to launch many electric cars in the middle categories at affordable prices in the coming years.
6) Electric Graves
Greaves Electric Mobility sales in May 2024 were 2,056 units, a slight decline compared to 2,675 units in April. Its monthly growth is negative 31% and its market share is 3%. May 2024 marked the first month of sales for Greaves Electric Mobility’s new Ampere Nexus, which launched on 30 April. Targeted at families, Ampere Nexus has been designed and developed in-house at its Ranipet facility in Tamil Nadu. Featuring a 3 kWh LFP battery, the Nexus has a top speed of 93 km/h and a certified range of 136 km. Available in two variants, prices range from Rs 110,000 to Rs 120,000 (ex-showroom).
7) The magician’s innovations
Wardwizard Innovations continues to see a rise in demand, with May 2024 retail sales reaching 1,261 units, a slight increase from 1,209 units in April. This represents the company’s best monthly numbers in the first five months of 2024. Monthly growth stands at 4%, with a market share of 2%. In February 2024, under the Joy-eBike brand, Wardwizard unveiled the concept of its first hydrogen-powered electric two-wheeler at the inaugural Bharat Mobility Global Expo 2024.
Delivering its vision to expand the electric vehicle model lineup through technological advancements and innovations, the company also introduced a pioneering high-speed electric scooter concept. In addition to these new concepts, Wardwizard showcased its current product lineup, including high- and low-speed models, as well as the newly introduced electric three-wheeler under the “Joy e-rik” brand name.
8) Gauss Otto
Bugass Auto ranks eighth on the OEM list for May. The company recorded sales of 1,158 units, a significant increase from the 712 units sold in April. Its monthly growth is 38% and its market share is 2%. The company recently collaborated with a leading electric vehicle (EV) aggregator and end-to-end enabler called VOICE to deploy 5,000 electric vehicles to last-mile partners, enterprise customers and B2B fleets, providing a comprehensive solution to streamline transportation. hiring.
9) Intelcorp Revolution
Gurugram-based Revolt Intellicorp ranks ninth in May. The company recorded sales of only 687 units in May as against 745 units in April 2024. Due to the decline in sales, the company witnessed a negative growth of 8% month-on-month and also has a market share of only 1%. Revolt Intellicorp should actively focus on product improvement, smart strategies, marketing initiatives, etc., to strengthen its position and sales in the competitive electric vehicle market.
10) Okaya E.V
OKa EV stands in last place in May. The company recorded sales of 519 units in May, which is a staggering increase from the 373 units sold in April 2024. The company’s month-on-month growth is 28% and has a market share of just 1%. Under its premium brand Ferrato, the company launched its inaugural Disruptor motorcycle. The company has two new electric motorcycles and one electric scooter in production, which will be launched soon.
