Top 8 Key Players of the Electric Scooter and Motorcycle Market

• Published Date: February 21, 2024

If we talk about the vehicles hustling on road in the contemporary scenario, the electric versions of scooters are making a large chunk of that. There is a lot of fascination about electric vehicles among people, as the world is moving toward decreasing the levels of pollution.  Vehicular emission constitutes a large part of the air pollution, impacting the quality of air like anything, and to reduce this, electric scooters and motorcycles play a vital part.

The value of the industry was USD 24,816 million in 2022, and it will reach USD 87,139 million by the end of this decade.

There are various notable players in the industry, and in this blog, we will discuss about them, and their contribution toward the industry.

Yadea Technology Group Co. Ltd.

Establishment: 2001

Headquarters: China

Website: https://www.yadea.com

Yadea is an e-two-wheeler brand, with high-performance e- motorcycles, e- mopeds, e- bicycles, and e- kick scooters.   The company started exporting in 2007, and till now it has exported electric vehicles to over 66 nations. The total customer base of the company is 70 million users and a network of 40,000+ retailers all across the globe.

The sales volume of electric two wheelers increased by about 33.8% from about 6,136,200 units half yearly ended 30 June 2022 to about 8,210,700 units on half-yearly basis ended 30 June 2023. Revenue from the sales of e- two-wheelers and batteries and chargers increased by around 21.3% from roughly RMB14,050.6 million for the 6 months ended 30 June 2022 to nearly RMB17,041.1 million for the half-a year ended 30 June 2023.

AIMA Technology Co. Ltd.

Establishment: 1999

Headquarters: China

Website: https://aimatech.net/

AIMA Group largely produces and sells e- bicycles, e-tricycles, bicycles, sports equipment and its parts manufacturing, R&D, processing and assembly; bicycle, e- bicycle, e- motorcycle and its parts sales and after-sales service.  There are 7 manufacturing bases, 5 operating entities. As of 2021, the global cumulative sales exceeded 50 million, and it was listed on the A-share main board in June. By 2035, AIMA will offer 800 million users globally with convenient and green travel solutions.

Zhejiang Luyun Electric Vehicle Co. Ltd.

Establishment: 1997

Headquarters: China

Website: https://luyuanvehicle.en.made-in-china.com/

The company was one of the initial specialized in EV R&D and manufacturing in China. It has 5 business manufacturing units in Zhejiang, Jiangsu, Shandong, Guangxi, and Fujian province, with over 1000 sales distributors and 10,000 individuals in relevant and with a production capacity of 2.3 million e-vehicles. The vehicles are distributed to more than 60 nations, for example Canada, France, the USA, Spain, Italy, Japan, Korea, India, Malaysia, Brazil etc.

Ampere Vehicles Pvt. Ltd.

Establishment: 2008

Headquarters: India

Website: https://ampere.greaveselectricmobility.com/

Ampere Vehicles is an Indian e- mobility company. It manufactures a lot of lucrative EV’s. It also makes three-wheelers, e-rickshaw and e-auto under the brands Ele and Teja, respectively.

By utilizing finest research and technology, Ampere is going by the Moto of Har Gully Electric with their EVs. The total valuation of the company was USD 418 million by January 2022. If we talk about the total revenue of the company by March 2023, it was USD 345 million.

BMW AG

Establishment: 1916

Headquarters: Germany

Website: https://www.bmwgroup.com/en.html

With four brands BMW, Rolls-Royce, MINI and BMW Motorrad, the BMW Group is a premium vehicle manufacturer and also offers financial and mobility services. It has more than 30 production sites globally; the company sells in over 140 countries. In 2022, the company sold approximately 2.4 million passenger automobiles and over 202,000 motorcycles at a global level. The profit before tax in 2022 was EU 23.5 billion on revenue amounting to EU 142.6 billion.

Energica Motor Company S.p.A.

Establishment: 2006

Headquarters: Italy

Website: http://www.energicamotor.com

Energica Motor Company is the subsidiary of CRP Group, known for international motorsports. CRP Group is well-known for Additive Manufacturing with cutting-edge laser sintering materials Windform and CNC Machining. Amid 2008 and 2009 CRP Group invested in electric vehicles.

In 2009 the prospect for developing an all- electric racing motorcycle was taken, and then came into being, the eCRP project. After 2 years, the company started working on the road version, because of the CRP technologies advanced for the aerospace and F1, the Energica project came into being. CRP Group has developed electric technology and created electric motorcycles for everyday use.

Jiangsu Xinri E-Vehicle Co. Ltd.

Establishment: 1999

Headquarters:  China

Website: https://www.sunraev.com/

SUNRA is a company specializing in research and development, manufacturing and sales of EVs. The company is the initial e-vehicle manufacturer to get qualification for production e- motorcycle & e- automobile production and license of low-speed e- automobile. The company has 4 production bases in Tianjin, Wuxi, Xiangyang, and Guangdong.

Jiangsu Xinri E-Vehicle offers e- cars, parts and accessories. It offers automobiles various models, such as phantom, fengya dq3, xcs 2.0, m1ku1, and others. They offer car parts for example intelligent control systems, automatic lithium batteries, dual power, and dual-core.

The company exclusively provided for e- vehicles, for Beijing Olympics and Paralympics and various other events. Since 2012, the company has partnered with Carvered, 3M and MIT.

Hero Electric Vehicles Pvt Ltd.

Establishment: 1993

Headquarters:  Gurugram

Website: https://heroelectric.in/

HERO Electric offers various high Speed Electric Two-Wheelers and has a widespread network and Service outlets. Founded and constituted the SMEV, the global representative of Indian EV Industry. The company has introduced first of its kind Personal Charger, Range Extender, Easy Wheels, and Charging Stations etc.

Summing Up the Scene

There are many key players in the industry and these are some of them for you to see and analyze their contribution in the electric scooter and motorcycle market.