Greaves Electric Mobility Registers Strong FY26 Growth with Revenue Rising 19% to ₹786 Crore

Greaves Electric Mobility (GEML) has reported a strong performance for FY26, posting revenue of ₹786 crore, a 19 per cent increase over the previous financial year. The growth was driven by rising demand for electric mobility solutions, expanding market presence, product launches, and a wider retail network.

According to VAHAN data, the company recorded a 51 per cent year-on-year increase in electric two-wheeler volumes during FY26. This helped GEML improve its market share from 3.6 per cent in FY25 to 4.4 per cent in FY26, placing it among the top six electric two-wheeler manufacturers in India.

The company also strengthened its position in key EV markets including Tamil Nadu, Odisha, Bihar, and West Bengal, where it achieved a combined market share of nearly 12 per cent. In Eastern India, GEML increased its market share to around 8 per cent from 5.7 per cent in the previous fiscal year.

Supporting its sales growth, the company expanded its dealership network, with active dealer count rising by 13 per cent during FY26. Retail network upgrades and showroom revamps also contributed to a nearly 30 per cent improvement in per-dealer productivity.

Commenting on the performance, Vikas Singh, Managing Director, Greaves Electric Mobility, said that FY26 was marked by strong progress across both electric two-wheelers and three-wheelers, supported by sustained demand, product innovation and deeper customer engagement.

On the product front, GEML continued to strengthen its portfolio through Ampere-branded offerings. The recently launched Ampere Magnus Grand received the ‘Electric Scooter of the Year 2026’ award, while the Magnus G-Max, introduced during Q4 FY26, won the ‘Family Scooter of the Year’ title. The company also announced the upcoming sixth-generation Magnus scooter, aimed at accelerating EV adoption among conventional scooter users.

The Ampere Nexus further added to the brand's credentials by setting an Asia Book of Records achievement after successfully completing the challenging 70-hairpin-bend route of Kolli Hills.

In the electric three-wheeler segment, GEML reported 17 per cent year-on-year growth in L5 vehicle volumes during FY26. Growth accelerated in the fourth quarter, with L5 VAHAN volumes rising 31 per cent year-on-year. Electric L5 three-wheeler volumes grew nearly 14 per cent during the year.

To improve customer accessibility, the company expanded financing options through partnerships including Hinduja Leyland Finance, offering up to 95 per cent on-road loan-to-value funding for L5 three-wheelers.

Greaves Electric Mobility also highlighted its focus on customer satisfaction, reporting a social net sentiment score of 93 per cent. The company attributed this to its after-sales support network and customer experience initiatives.

From a technology perspective, GEML completed the transition of its EV portfolio to Lithium Iron Phosphate (LFP) battery technology. The company said the move enhances safety, thermal stability, battery life and overall ownership costs while improving reliability across diverse operating conditions.

With sustained growth across both two-wheeler and three-wheeler segments, expanding market share and continued investments in products and network development, Greaves Electric Mobility closed FY26 on a positive note and strengthened its position in India's growing electric mobility market.

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