In India, the EV industry is estimated to reach $15,397 Billion by 2027. The electric vehicles industry is at a nascent stage in India. It is less than 1% of the total vehicle sales however has the potential to grow to more than 5% in a few years. EV startups offer a slew of services such as sustainable mobility, energy infrastructure, commercial mobility, and battery management system, among others, to the general masses and other organizations. EV startups also work as a growth catalyst in sectors such as FMCG and logistics, among others. Below is the list of top 4 EV startups to look out for in 2023.

1.            EMotorad

Founded in 2020, Pune-based EMotorad (EM) is an electric vehicle company that strives to bring eco-friendly, futuristic e-bikes at an affordable price for adventure seekers, daily commuters, or casual riders. The EV startup aims to bring across premium quality electric cycles at an affordable price, utilizing its local sourcing and manufacturing capabilities in India. It has since expanded its business to Japan, the UAE, Europe, and Nepal. Alongside onboarding 160+ dealers in India, EM currently is present across 82 towns and cities in India and abroad.

2.            Zypp Electric

Zypp Electric is India’s Leading Tech-Enabled EV-as-a-Service platform, founded in 2017 with a Mission Zero-Emission and to make India carbon-free by using an ecosystem of Electric Vehicles and EV-based technology to make last-mile logistics sustainable and emission-free. Zypp Electric’s business model is to make carbon-free last-mile delivery for local merchants, e-commerce giants, and delivery executives, thereby reducing delivery cost and pollution on an asset-light model. The company currently delivers groceries, medicines, food, and e-commerce packages from point A to point B through their fully automated IoT and AI-enabled scooters which are low on maintenance and high on performance.

3.            ChargeZone

CHARGE ZONE is a tech-driven EV Charging infrastructure company specializing in B2B and B2C charging services on both dedicated and opportunity-based charging using smart-grid network. Based in India, with indigenous development of the technology of mobile-app and CMS with firmware/web-socket cloud based computing, CHARGE+ZONE is on a mission to establish 100,000 charging stations across important markets of EVs in India for cars, buses and even trucks.

4.            Kosh Energy

Kosh Energy Technologies Pvt Ltd (KETPL) is a leading manufacturer of Lithium Battery Systems across chemistries and applications with its 100MW & expanding, a state-of-the-art production line based at Vadodara, Gujarat. Backed by an industry-leading team of strong technocrats & business experts, Kosh is also developing scalable and sustainable solutions in energy Storage. Our endeavor to help India’s shift towards electric mobility has compelled us to set up Centre of Excellence for Development and Testing of Advanced Chemistry Batteries.