Greaves Electric Mobility continued its growth momentum in FY26, reporting a 19% year-on-year increase in revenue to ₹786 crore, driven by rising demand for electric mobility solutions, stronger regional penetration, product innovation, and network expansion.
According to VAHAN data, the company recorded a 51% year-on-year growth in electric two-wheeler (E2W) volumes during FY26, supported by consistent quarter-on-quarter growth throughout the year. Greaves Electric Mobility also improved its market share from 3.6% in FY25 to 4.4% in FY26, emerging among the top six players in India’s E2W segment.
Regional expansion drives market gains
The company strengthened its leadership across key EV markets, achieving nearly 12% market share across Tamil Nadu, Odisha, Bihar and West Bengal, which together contribute around 23% of India’s E2W demand.
Greaves Electric Mobility also expanded its Eastern India market share to nearly 8% in FY26 from 5.7% in FY25, reflecting increasing consumer acceptance and a stronger retail network in emerging EV markets.
To support this growth, the company expanded and enhanced its retail footprint during the year. Active dealer count increased by 13%, while showroom revamps and network enhancement initiatives led to nearly 30% improvement in per-dealer productivity.
Focus on innovation and customer engagement
Greaves Electric Mobility Managing Director 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.”
He added, “With continued investments in technology, network expansion, financing accessibility, and customer experience, we remain committed to democratize adoption for electric mobility ecosystem and driving the next phase of sustainable growth.”
The company also strengthened its product portfolio during the year. The recently launched Ampere Magnus Grand received the Electric Scooter of the Year 2026 award, extending Ampere’s streak of industry recognitions across models including Primus, Nexus, Magnus Grand and Magnus G-Max.
During Q4 FY26, the company launched the Magnus G-Max, which won the ‘Family Scooter of the Year’ award, while also announcing the upcoming sixth-generation Magnus scooter aimed at accelerating EV adoption among conventional scooter users.
Meanwhile, the Ampere Nexus achieved an Asia Book of Record by conquering the 70-hairpin bends of Kolli Hills, showcasing the endurance and reliability of the company’s EV platforms.
Three-wheeler business gains momentum
On the three-wheeler front, Greaves Electric Mobility reported 17% year-on-year growth in L5 VAHAN volumes during FY26, supported by strong Q4 momentum with 31% YoY growth.
The company also strengthened customer accessibility through financing partnerships, including a tie-up with Hinduja Leyland Finance, enabling up to 95% on-road loan-to-value funding for L5 three-wheelers.
Greaves Electric Mobility said it continued enhancing its customer experience ecosystem, maintaining one of the highest customer advocacy levels among EV peers with a social net sentiment score of 93%.
The company further strengthened its technology positioning by completing a 100% transition to LFP battery technology across its EV portfolio, aimed at improving safety, thermal stability, lifecycle performance and overall total cost of ownership for customers.