Ampere Parent Greaves Electric Mobility Reports 51% Electric Bike Growth, 19% Revenue Rise in FY26

Greaves Electric Mobility, which operates the Ampere electric bike brand, has reported strong growth in FY 2025-26. The company achieved revenue of ₹786 crore, a 19 percent year-on-year improvement. According to the company, its growth was thanks to strong demand, deeper regional penetration, product innovation, and better customer access to electric vehicles.

Citing India’s central Vahan database records, the company says it achieved 51 percent year-on-year growth in electric bike sales for the financial year, with consistent quarter-on-quarter growth throughout. The company also says its market share went up from 3.6 percent in FY 2024-25 to 4.4 percent in FY 2025-26. It is now ranked sixth in India’s electric bike market.

The company’s market share is strongest in Tamil Nadu, Odisha, Bihar, and West Bengal, at almost 12 percent. It considers these states key markets for EVs, as they collectively account for around 23 percent of India’s overall electric bike market. The company also says it has improved its market presence in the growing Eastern India region, with a stronger dealer network.

Greaves Electric Mobility also expanded its footprint during the financial year, increasing its active dealers  by 13 percent, and also undertaking showroom revamps and other initiatives to increase dealer productivity and boost consumer engagement.

In a press statement, company MD Vikas Singh said “FY26 has been a year of strong progress for Greaves Electric Mobility, driven by sustained market demand, product innovation and creating deeper customer engagement. Our consistent Q-o-Q growth across electric two-wheelers and three-wheelers reflects the increasing acceptance of EVs that are purpose-built for Indian consumers and conditions. With continued investments in technology, network expansion, financing accessibility and customer experience, we remain committed to democratising adoption for the electric mobility ecosystem and driving the next phase of sustainable growth.”

During the year, Ampere strengthened its portfolio with the new Magnus Grand and Magnus G-Max models. It also announced an upcoming Magnus 6th Generation scooter. The Ampere Nexus also set an Asia Book Record, an recognised achievement, successfully navigating the 70 hairpin bends of the Kolli Hills in Tamil Nadu, which earned it some publicity.

The company’s offerings under its Ele and Greaves brands, which sell e-rickshaws and commercial vehicles, also grew. Sales of vehicles classified L5 (cargo or commercial three-wheelers) grew by 17 percent year-on-year in FY 2025-26, with a particularly strong 31 percent YoY boost in Q4. Financing partnerships helped make the company’s offerings more accessible to buyers.