Greaves Electric’s Ampere Crosses 4 Lakh Scooter Milestone, Strengthening Leadership in India’s Mass EV Segment

Key Metrics:

What Happened ?

Key Details

Business Milestone and Growth Drivers:

• Ampere has surpassed 4 lakh electric scooters manufactured and sold in India.
• The company recorded 51% year-on-year growth in FY26.
• Market share increased from 3.6% in FY25 to 4.4% in FY26.
• Dealer network expanded by 12% during FY26.
• The milestone includes slow-speed electric vehicles, which are not captured in VAHAN registration data.
• Ampere continues to strengthen its retail and service network with 400+ dealer touchpoints across India.
• The company operates three manufacturing plants located in Hyderabad, Noida and Ranipet.
• Products are based on a 100% LFP battery platform, offering improved safety, thermal stability and long lifecycle performance.
• Ampere Nexus received the Electric Scooter of the Year 2025 award.
• Magnus Grand won Electric Scooter of the Year 2026, while Magnus G-Max received the Family Scooter of the Year recognition.
• Ampere products have earned 8 India Book of Records titles and 1 Asia Book of Records recognition.

Note:

• The announcement highlights operational and market expansion rather than a financial transaction. The milestone demonstrates increasing consumer acceptance of Ampere’s electric scooters and reinforces Greaves Electric Mobility’s positioning in India’s fast-growing affordable EV segment.

Risk Analysis

Summary:

• Despite the positive momentum, future growth depends on sustained consumer demand, competitive pricing, policy support, battery supply chains and continued expansion of charging and service infrastructure.

Key Risks:

• Intense competition in India’s electric two-wheeler market.
• Dependence on government EV incentives and regulatory environment.
• Execution risk in maintaining dealer network expansion.
• Supply chain and battery raw material availability may impact production.
• Maintaining market share amid increasing competition remains critical.

Worst Case:

• Any slowdown in EV demand, reduction in subsidies, or aggressive competitive pricing could moderate sales growth and limit further market share gains.

Risk Level: Medium

Company Commentary

• Managing Director Vikas Singh said crossing the 4 lakh milestone validates customer trust in Ampere and the company’s strategy of delivering dependable, value-driven electric mobility solutions.
• He stated that the company’s “Built for Bharat” approach focuses on practical, affordable and durable EVs designed for Indian road and operating conditions.
• The company believes the next phase of EV growth in India will be driven by mass-market electric mobility solutions.
• Ampere reaffirmed its commitment to expanding technology offerings, strengthening its 100% LFP product portfolio and making electric mobility more accessible across India.