Greaves Electric Mobility reported strong growth momentum in FY26, recording a 19% year-on-year increase in revenue to Rs 786 crore. The company also achieved 51% growth in the electric two-wheeler segment and 17% growth in the L5 category, driven by rising demand for clean, sustainable and reliable mobility solutions.
The growth was supported by higher sales volumes, deeper regional market penetration, continued product innovation and expanded customer access across its electric two-wheeler and three-wheeler portfolio.
As per VAHAN data, GEML registered 51% year-on-year growth in electric two-wheeler (E2W) volumes in FY26, demonstrating consistent quarter-on-quarter growth throughout the year. The company also improved its market share from 3.6% in FY25 to 4.4% in FY26, while also emerging among the Top 6 players in India’s E2W segment.
Greaves Electric Mobility continued to strengthen its regional leadership across key EV markets, achieving nearly 12% market share across Tamil Nadu, Odisha, Bihar, and West Bengal, states which collectively contribute around 23% of India’s overall E2W market demand. Additionally, GEML consolidated its Eastern India market share to nearly 8% in FY26, from 5.7% in FY25, reflecting growing consumer acceptance and stronger network presence across emerging EV markets. Supporting this momentum, Greaves Electric Mobility continued expanding and strengthening its retail footprint during FY26. Active dealer count increased by 13% during the year, while showroom revamps and network enhancement initiatives drove a nearly 30% improvement in per-dealer productivity, reflecting stronger consumer engagement and improved channel efficiency.
Commenting on the company’s performance, Mr Vikas Singh, Managing Director, 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 democratize adoption for electric mobility ecosystem and driving the next phase of sustainable growth.”
Supporting this growth, the company successfully ramped up its product portfolio and received recognition for innovation. The recently launched Ampere Magnus Grand, received the “Electric Scooter of the Year 2026” award, extending Ampere’s streak of four consecutive industry recognitions across Primus, Nexus, Magnus Grand, and Magnus G-Max. During Q4 FY26, GEML launched the Magnus G-Max that won the ‘Family Scooter of the Year’, and also announced the upcoming Magnus 6th Generation scooter, aimed at accelerating adoption among ICE scooter users.
Additionally, the Ampere Nexus set an Asia Book of Record, its first internationally recognized achievement, by conquering the 70-hairpin bends of Kolli Hills, further demonstrating the reliability and endurance of Greaves Electric Mobility’s products in real-world conditions.
On the three-wheeler front, the company reported consistent movement with L5 VAHAN volumes growing 17% year-on-year in FY26, supported by strong Q4 FY26 momentum with 31% YoY growth. L5 electric three-wheeler volumes and overall L5 three-wheeler volumes grew by nearly 14% and 17% respectively during the year.
The company continued strengthening its customer accessibility through strategic financing partnerships, including tie-up with Hinduja Leyland Finance, enabling up to 95% on-road LTV funding for L5 three-wheelers. Greaves Electric Mobility also continued to strengthen its customer experience proposition beyond product ownership. The company maintained one of the highest customer advocacy levels among EV peers, with social net sentiment reaching 93%, supported by a strong after-sales ecosystem and focus on customer satisfaction.
Greaves Electric Mobility continues to build on its differentiated technology positioning through its 100% transition to LFP battery technology across the EV portfolio, strengthening safety, thermal stability, lifecycle performance, and TCO for customers. The company’s LFP-powered platforms have continued to demonstrate strong reliability across diverse operating conditions.
