2023 Most Profitable Electric Two-Wheeler Franchise Opportunities in India

on Jan 16, 2023 | 240 views

 By Debatri Das

Believe it or not, Electric Vehicles are a big part of our future not only in India but in the entire world. The Government of India has taken the action of making the roads of the country filled with only electric vehicles by 2030.

Electric two-wheelers are the most flourishing sector of the Electric Vehicles Industry in India with Government support, and programs. With similar favorable support and rising demand, the field of Electric two-wheelers is anticipated to grow exponentially in the coming years.

Top 14 Electric Two-Wheeler Franchise Opportunities in India To Look out for in 2023

Here are some of the electric two-wheeler franchise opportunities to keep an eye on in 2023.

1. Ola Electric Scooter

Ola operated by ANI Technologies Private Limited is currently one of the most popular companies dominating the automobile industry. Launched for the first time on the 15th of August 2021, Ola Electric Scooters are exclusively manufactured by Ola Electric Mobility Private Limited in their newly opened factory in Tamil Nadu and are enthusiastic about expanding its reach through franchises. Their franchise or dealership model is one of the lucrative ones with various support systems in the form of godown, showroom space, and space for servicing.

Other supports provided to franchisees are Interior infrastructure, spare parts for servicing the bikes, and working capital. An initial stock of a minimum of 50 bikes is also provided.

Here are some of the details you need to know before you apply -

Official Website - https://olaelectric.com

Cost of one electric scooter - Rs. 99,999 – Rs. 1,29,999 INR

Total investment fees - Rs 80 lac to 90 lac

 

2. Hero Electric Scooter

Hero Electric is India’s most popular two-wheeler manufacturer. Founded in 2007, they have the highest market share in EV sales in the entire country. With headquarters located in Gurugram Haryana, they are constantly developing themselves and upgrading their products to meet the demands of their customers.

If you want to experience the best of the best electric vehicle then the hero electric scooter is the answer for you. At hero electric, customers are provided with the technologically latest model of electric scooter produced after painstaking research.

Most important of all, their products are completely sustainable since the energy resources they employ are renewable. With zero emissions from their vehicles, Hero Electric is on a mission to provide their customers, with an environment-friendly and eco-friendly product that will help them combat drastic climate change and global warming effects. Currently, the company has over 500 dealers and showrooms in more than 25 states.

Official Website - heroelectric.in

Total Investment fees - Rs 40 lac to 50 lac

 

3. Okinawa Electric Scooter

Okinawa is one of India’s leading two-wheeler automobile companies. Its total market share as reported in a blog by India Brand Equity Foundation is 21%. Established in 2015, Okinawa operates intending to develop an environment-friendly two-wheeler that would help India in fulfilling her dream of becoming fully sustainable.

With its headquarters in Gurgaon, Haryana the founders Jeetender Sharma and Rupali Sharma are now expecting to grow their business. The Okinawa electric scooters are one of a kind in India as it possesses complete AI connectivity.

In today’s world where AI is massively influencing research and product developments, Okinawa electric scooter proves to be one of the best. It is also the first to receive the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India II or FAME II incentive from the government of India.

The support systems provided by Okinawa Electric Scooter Franchise are Working capital, tools, spares, and a workshop. Anyone interested in buying the franchise should have locations or spaces which can be used as a godown and showroom.

 

Official Website - okinawascooters.com

Total Investment - Rs 42 lac to 48 lac

 

4. Ampere Electric Scooter

Ampere by Greaves is one of the popular electric vehicle-producing companies in India. Founded in 2008, it is now looking to expand throughout the country. It has in total six products divided into two primary categories. Performance E Scooters contain under it two models namely Magnus and Zeal Ex whereas Enoomy E Scooters contain four models whose names are Reo Series, Reo Elite, V Series, and M Series. The application process is fully online.

Official Website - amperevehicles.com

Total Investment fees - Rs 20 lac to 50 lac

 

5. Ather Energy

Ather Energy Private Limited has the third largest market share after Hero Electric and Okinawa in the field of Electric two-wheeler vehicles. Its total market share is 11.1%. Its electric vehicle is Smart Electric Super Scooter.

Being one of its first kind, the company is now planning to sell it across India through franchises. Founded by Tarun Mehta and Swapnil Jain in 2013, it is slowly becoming known all over the country.

They primarily manufacture two kinds of electric scooters namely the Ather 450x and Ather 450Plus. With headquarters in Bangalore, Ather Energy is one of the automobile companies whose primary goal is to provide customers with sustainable and eco-friendly scooters at a low cost. In the year 2019, they were able to produce a total of 40,000 vehicles.

Official Website - atherenergy.com

Total Investment fees - Rs 2 crores to Rs 4 crores

 

6. Pure Electric Vehicles

Started by Dr, Nishanth Dongari and Mr. Rohit Vadeta, Pure Energy is one of the unique automobile manufacturing companies in India. Since its inception, the company has been rigorously involved in various environmentally conscious fields such as renewable energy and hybrid solar storage products.

Over the past few years, they have also worked alongside schools and NGOs. They have been manufacturing lithium batteries to support their electric two-wheelers. Today they are one of the largest startups in the field of electric two-wheelers with huge success.

In total there are five different kinds of products manufactured by Pure Energy or Pure EV, namely EPLUTO 7G, ENTRANCE NEO, ENTRANCE. ETRON+ and LI Battery.

Official Website - pureev.in

Total investment fees - Rs 75 lac to 125 lac

 

7. Evolet India

Evolet is a startup under Rissala Electric Motors Private Limited. They have over the last few years established themselves in 7 cities in India and are enthusiastic about reaching more cities. Founded by Prerana Chaturvedi and Ajay Ahlat in the year 2019, the company has bloomed with over 50 franchises.

Franchising since 2020, they have a total of four models of Electric two-wheelers. Started by veteran defence officers Evolet India has a very noble approach that is to make the air that humans every day breathe purer and better in quality.

Their products manufactured using high-quality technology strives to make a difference in today’s polluted environment.

Official Website - evoletindia.com

Total Investment fees - Rs 30 lacs

 

8. Bounce Infinity - Auto Dealership

Bounce Infinity was founded by Vivekananda Hallekere, Anil G, and Varun Agni in May 2018. It was launched with a very innovative approach at its core that is providing smart mobility options to the citizen. It aims to make everyday commutes as smooth and comfortable as possible. At Bounce Infinity the customers are given two options.

They can buy an electric scooter with or without the battery. Buying the bounce infinity franchise would thus be highly profitable as it would fulfill the demand for electric scooters at the same time would give the customers an option to buy whichever is convenient for them.

The franchisee would be given support by the franchisor in the form of field assistance, training, and expert guidance from the main office. The franchise term is for 3 years and it is renewable.

Official Website - bounceinfinity.com

Total Investment fee - Rs 50 lac to Rs 1 crore

 

9. FAE Bikes

FAE Bikes also known as First and Electric Bikes are a revolutionary model in the field of Electric two-wheelers. They provide services to companies like Swiggy, Zomato, Myntra, etc. Delivery companies require transport throughout the day to fulfill their customer’s demands.

FAE Bikes by providing vehicles to them are helping in maintaining a pollution-free environment as well as fast service. They are interested in opening franchises all over India. Guidance, field assistance, and training will be provided to the franchisee. The franchise term is 3 years long and renewable.

Official Website - faebikes.com

Total Investment fee - Rs 30 lac to 50 lac

 

10. Joy E-Bikes

Joy E-Bikes are one of those products which are always in demand. Their electric bikes are technologically efficient and are very popular in today’s market. One of the leading companies in the field of the two-wheelers manufacturing industry, they intend to make pollution-free and environment-friendly products that are affordable and have zero emissions.

With headquarters in Vadodara, they are now seeking to enlarge their reach through franchises. Produced by Ward wizard Innovations & Mobility Limited Joy E-Bikes are comfortable for daily use. Some of the models of the Electric two-wheeler are Thunderbolt, Gen Next Nanu E- Scooter, Wolf, Glob, Monster, Beast, Hurricane, and Skyline.

Official Website - joyebike.com

Total investment fees - Rs 30 lac to 35 lac

 

11. Vihan Electric Vehicles Company

Operating since 2015, Vihan Electric Vehicles Company strive to bring their customers superior products. They also provide their customers with spare parts for vehicles. They are currently enthusiastic about increasing their reach within the state of Maharashtra.

They started franchising in 2015. They provide the franchisee with training as well as field assistance. They also offer skilled guidance. Their franchise term is 5 years long and renewable.

Official Website - vihanevehicles.com

Total investment fees - Rs 5 lac to 10 lac

 

12. Esybike Technologies Pvt. Ltd.

Originating in 2019 Esybike Technologies Private Limited is one of those new automobile manufacturing companies whose aim is to fulfill the Government of India’s dream of filling the Indian streets with electric vehicles.

Their mission is to bring change in the field of transport by offering alternatives for petrol and diesel-fuelled vehicles. Right now they are producing high-quality products with 5 manufacturers but aim to increase it to 10.

They are interested in spreading their dream and brand throughout the country. Along with a variety of spare parts, they will also aid the franchisee with quality training, assistance, and guidance. The term for their franchise is 3 years long and is renewable.

Official Website -easyleadz.com

Total investment fees - Rs 2 lac to 5 lac

 

13. SDC Network

SDC Network is actively involved in the field of media. Seeing the current state of the environment and climate change they are now introducing electric two-wheelers through SDC Solar and an electric project which will bring positive change in our society.

The work for the same started in 2022. They are interested in franchising in mostly southern states of the country namely Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, and Telangana.  Proper training, assistance, and guidance will be offered to the franchisee. Their franchise term is 5 years long and is renewable.

Official Website - ufg.co.in

Total investment fees - Rs 50 k to 2 crores

 

14. Aechvee Motor Corp

YObykes produced by Aechvee Motor Corp function with the help of batteries and is one of the first to do so in India.  The bikes do not cause any pollution and are available at a reasonable & affordable price. Traveling on YObykes is extremely comfortable. The bikes are empowered with excellent electrical technology.

Founded in 2014, the company is looking to expand through franchises in the state of Gujarat. They provide franchisees training, guidance, and assistance. Their franchise term is for 2 years and can be renewed.

Official Website - yobykes.in

Total investment fees - Rs 50 K to 2 lac

 

The Market Overview for Electric Two-wheelers

JMK Research and Analytics have called electric two-wheelers a “Torchbearer of EV revolution in India” (Gulia 6).  In their most recent report on the market for electric two-wheelers published in November 2022, they claimed that 55% of the total sales of Electric vehicles in 2022 originated from electric two-wheelers alone. Other similar reports state that around two crores of electric two-wheelers were sold in a year. A high number of products in this field are being produced including batteries.

The sales trend in 2023 is expected to be much higher than last year as more and more citizens are becoming aware of the need for Electric Vehicles.

 

Frequently Asked Questions

Q1. Is EV profible franchise in India?

Ans. Undoubtedly yes, it is a profitable franchise in India. Electric two-wheelers come with a plethora of advantages that are bound to make one’s life easy.They are cheaper than four-wheelers, fast fources of transport, easy to use, easy to maintain since the maintaince cost is lower than petrol or diesel-controlled two-wheelers.They do not require frequent servicing.

Moreover, It does not require a lot of space due to their size and they are eco-friendly being electrically operated these vehicles have zero emissions thus causing zero pollution.

 

Conclusion

The world and the society living in it are perpetually changing. The one who can adapt to this environment survives and succeeds whereas the one who is not able to do so is left behind. Electric Two-wheelers are a significant part of that changed environment and now is the right time to invest in them.

Citation 

Gulia, Jyoti, et al. p. 6, Electric -Wheeler Market India November 2022.

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