July 2021 was a month of much activity and announcements in the Indian electric two-wheeler industry. Much of it had to do with the announcement of Phase II of FAME II scheme by the Central Government, which seemed to favour the early adoption of electric two- and three-wheelers. Many states followed suit with a new or revised electric vehicle (EV) policy. Of the opinion that the new FAME II scheme will disrupt the two-wheeler market in India, Tarun Mehta, CEO and Co-founder, Ather Energy, said, “They could clock sales of over six million units by 2025.”

The increase in maximum subsidy limit from 20 to 40 percent in the case of initial acquisition cost has enabled electric two-wheeler OEMs to reduce the sticker price of their products a good deal. The arrangement is such that the government will reimburse the OEM the subsidy amount after it has sold the vehicle to its customer, the actual beneficiary. “Lowering the prices of electric scooters will help to persuade more riders to switch to an electric one,” said Jeetender Sharma, MD and Founder, Okinawa Autotech. Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV), informed, “The Gujarat State Government’s subsidy of INR 20,000 for electric two-wheelers that cost up to INR 150,000 has a potential to make it an EV hub,” Referring to the Maharashtra EV policy, which provides a subsidy of INR 10,000 on an electric two-wheeler, Nagesh Basavanhalli, MD and CEO, Ampere Vehicles, remarked, “The policy will not only boost electric vehicle growth, it will also provide employment.”

Helping electric two- and three-wheeler proliferate, the Phase II of FAME II and the EV policies of various states, it is clear, are looking at attracting investments and employment opportunities. These policies are also looking at creating a self-sufficient (Atmanirbhar Bharat) ecosystem of fundamental manufacture – that of chips, battery cells, motors and controllers. India has the software but needs the hardware, mentioned a source. He pointed at Ola’s high voltage campaign for its e-scooter, and said that the real slog will start only after the plant is up and running. It will begin when the e-scooter hits the road and starts competing against numerous others. Stressing on the presence of equally capable global, regional and local players, he explained, it is as necessary to understand the psyche of the market as much as it is to have the technology and the money to invest. Carrying with them the image of being premium and technologically superior, the Ather e-scooters have been attracting attention for some time.

Its dealer from Maharashtra mentioned that awareness for electric two-wheelers is growing and the number of footfalls after the fuel price hike. Range anxiety, however, remains to be a challenge, he said. Across segments – Ather e-scooters are said to be premium offerings compared to others with a price premium of roughly INR 30,000 to INR 40,000. Range anxiety is a factor that is proving challenging to many. Especially along with the higher initial acquisition cost. The innovative technological achievements like a detachable battery pack that could be taken out for charging at home or in the office are helping to an extent. They are also highlighting the efforts of the electric two-wheeler OEMs to understand the dynamic regulatory and market requirements.

Investments in technology involving materials and sciences are yielding better products no doubt. With the emergence of demand for commercial-use electric three-wheelers, companies like Komaki are quick to respond. Its XGT CAT 2.0 e-bike with a 350 kg payload is designed to address the needs of e-commerce logistics companies like Delhivery and Ekart, and aggregator platforms like Swiggy and Zomato. Looking at maximum uptime and reliability in the last-mile space, commercial electric three-wheeler users, tasked with attacking as many pin codes and as many customers as they could in a strict time stipulation, are keen to control costs as well as reduce their carbon footprint. Leveraging IoT and AI to analyse data, they are choosing between Lithium-ion powered and lead-acid battery-powered electric two-wheelers. (MT)

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Carolwood LP has officially closed its agreement with Polaris to acquire the iconic Indian Motorcycle Company, which will now become an independent business.

The transition coincides with the 125th anniversary of the company, which also sees Mike Kennedy, a veteran of the motorcycle industry, take over as the Chief Executive Officer of the stand-alone entity.

The acquisition agreement includes the transition of approximately 900 employees to the new Indian Motorcycle Company. Manufacturing operations will remain at existing facilities in Spirit Lake, Iowa and Monticello, Minnesota.

Industrial design, technology and product development will continue at research and development centres in Burgdorf, Switzerland and Wyoming, Minnesota. Sales, service, and support for the dealer network and customers are expected to continue without interruption.

The company’s strategy involves concentrated investment in motorcycles, technologies, and craftsmanship. The executive emphasised a commitment to the brand's American manufacturing identity and its dealer partnerships.

Mike Kennedy, said, “It’s an incredible honour to take the helm of Indian Motorcycle as it celebrates its 125th Anniversary, empowered by a sense of gratitude and opportunity, and the support and ambition of a well-resourced, highly motivated ownership team. 2026 will be a special year to honour our history, but more importantly, to drive the brand into the future with a renewed level of commitment, focus and clarity that can only be found as a stand-alone company.”

The new leadership intends to focus on transparency and collaboration with its global dealer network, incorporating feedback into operations, marketing, and product development.

“We will achieve our vision through a deeper level of differentiation, leaning in on what makes our brand unique, and with products that possess a style, craftsmanship and performance quality that is uniquely justified by our historic legacy and spirit of innovation. Dealers are our most important partners, and we will judge our business based on the success of our dealers. We intend to be extremely collaborative with our dealers, actively listening to their feedback and incorporating it into our planning and decision-making, not only in terms of dealer operations, but also product development and marketing. America’s first motorcycle company will put America first. Our brand and business will be grounded in our American identity and more importantly, American manufacturing. ‘Built in America’ is not a slogan. It’s a competitive advantage, and we intend to use it,” added Kennedy.

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Bengaluru-based electric vehicle maker Ather Energy has posted its highest quarterly revenue to date, reaching INR 9.95 billion for Q3 FY2026, which marks a 53 percent YoY growth.

The company attributed the performance to sales volume growth as well as a rise in non-vehicle revenue. During the period, the company sold 67,851 units, a 50 percent increase YoY. Consequently, Ather’s national market share has expanded to 18.8 percent.

Ather Energy reported a narrowing of its EBITDA loss to INR 299 million, with the EBITDA margin improving by 1,600 basis points to (-3 percent). This progress is attributed to cost management and operating leverage.

Key Financial Data:

• Adjusted Gross Margin (AGM): INR 2.51 billion, up 111 percent YoY.
• AGM (Excluding Incentives): 23 percent, an increase of 1,100 bps YoY.
• Non-Vehicle Revenue: Contributed 14 percent to total income, led by software subscriptions, charging and services.
• Quarterly Loss Reduction: Narrowed by 45 percent compared to Q2 FY2026.

Tarun Mehta, Executive Director & CEO, Ather Energy, said, “Q3 has been a strong quarter for us. Robust festive demand, healthy volume growth, and improving market share together drove our best quarterly revenue and EBITDA so far. Over the past few quarters, we have stayed very focused on getting the fundamentals right by improving unit economics, margins, and operating leverage, and that effort is now clearly showing in the improvement in EBITDA. What is particularly encouraging is the strength of our ecosystem. AtherStack attach rates remain very high, and customer engagement is deepening even as our sales scale. All of this gives us confidence that the business is structurally prepared for sustainable, long-term growth.”

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Suzuki Motorcycle India (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan has reported wholesales of 125,786 units in January 2026, which marks a 15 percent YoY growth.

In the domestic market, the sales increased by 14 percent to 100,296 units, as against 87,834 units last year, while exports came at 25,490 units, up 21 percent YoY.

Deepak Mutreja, Vice-President – Sales & Marketing, Suzuki Motorcycle India, said, “The sales results for January indicate growing demand in both domestic and international markets. This momentum is supported by our ongoing focus on continuous customer engagement, after‑sales service enhancement, and network expansion. We will continue to invest in these areas to ensure that customers receive a seamless and reliable ownership experience throughout the year.”

Furthermore, the company reported INR 895.6 million revenue through spare parts sales, marking a 20 percent YoY growth.

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India Yamaha Motor (IYM), a leading two-wheeler manufacturer, has announced the price of its first electric scooter – the EC-06 – at INR 167,600 (ex-showroom Delhi). The e-scooter based on the River Indie will initially be sold in select cities through the company's Blue Square showrooms in a Bluish White colour.

The EC-06 features a 4kWh fixed battery paired with an Interior Permanent Magnet Synchronous Motor (IPMSM). It offers a certified claimed range of 169km on a single charge. It has a claimed top speed of 79 kmph, 6.7 kW of peak power, 26 Nm of torque and can be charged in 8 hours using a standard plug. It comes with 3 years or 30,000 km warranty for the battery.

The vehicle is built with IP67-certified protection for the motor and battery, while other electronics carry an IP65 rating for water and dust resistance.

The scooter includes three riding modes – Eco, Standard and Power – alongside a Reverse Mode. The chassis uses telescopic front forks with hydraulic dampers and a rear coil spring suspension. Braking is handled by 200mm discs at both ends, supported by a Combi Brake System (CBS).

For storage and technology, the EC-06 provides 24.5 litres of under-seat space and a colour LCD display. It integrates with the ‘Yamaha Motor Connect R’ app for real-time data access.

Hajime Aota, Chairman, Yamaha Motor India Group, said, “The EC-06 marks an important step in Yamaha’s journey toward sustainable urban mobility. As India accelerates its transition toward a carbon-neutral future under the government’s visionary leadership, Yamaha is proud to support this national agenda through high-quality electric innovation. Designed for everyday commuting, it balances efficiency with performance, offering an impressive range and intuitive features. As a first-of-its-kind model from Yamaha, it demonstrates how sustainability and riding excitement can coexist – true to our brand philosophy and our responsibility towards the future of India’s green economy.”

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