Greaves Electric Mobility (GEM), the EV arm of diversified engineered major Greaves Cotton, has crossed the 270,000-units sales mark for electric 2-wheelers in the domestic market. Retail sales data, sourced from the Vahan portal and encompassing e-2W deliveries of both Greaves Electric Mobility and Ampere Vehicles, puts the cumulative figure at 270,892 units (May 2019 to February 27, 2026). 

GEM, which completed its acquisition of the Coimbatore-based EV start-up Ampere Vehicles in November 2019, had surpassed the 250,000-units mark in end-October 2025. It now needs to sell another 4,108 units to achieve the 275,000 milestone, which it should by end-March 2026. 

New model launches like the Nexus and the Magnus Grand have revived demand for Ampere Vehicles and GEM. Retail sales in FY2026 YTD at 53,431 units are up 52% year on year. 

As the retail data detailed above reveals, GEM’s best calendar year sales to date were in CY2022 with 82,657 units albeit, for two subsequent years, sales fell by 19% (CY2023: 66,962 units) and by 46% (CY2024: 36,152 units), respectively. CY2025 though witnessed a revival of demand for the e-scooter manufacturer with 56,649 units, up 57% YoY.

In the first two months of CY2026 (with one day still to be counted), GEM has delivered 9,820 e-scooters to its customers, up 33% YoY (January-February 2025: 7,368 units). This gives the company No. 6 rank – its longstanding position – behind TVS (65,252 units), Bajaj Auto (49,953 units), Ather Energy (41,865 units), Hero Vida (25,305 units) and Ola Electric (11,421 units).

With one day still to be counted in February, Greaves E-Mobility is 587 units ahead of Ola. E2W leader TVS has crossed 30,000-unit monthly sales for the fifth time since January 2020. 

GREAVES & AMPERE RIDE AHEAD OF OLA IN FEBRUARY 2026
What’s different in February 2026 is that Greaves Electric Mobility has outsold Ola Electric. In the February 1-27 period, GEM has delivered 4,478 e-scooters, going ahead of Ola Electric (3,891 units) by 587 units. This sees GEM’s monthly ranking rise to No. 5 for the first time. The news of this changing market dynamic was first broken by Autocar Professional in its first-half February 2026 sales analysis when GEM (2,215 units) was ahead of Ola (2,160 units) by a minuscule 55 units. Since then, the difference has risen by 532 units. 

Ola Electric has had a tough February – the 3,891 units (with February 28 retails still to be factored in) are its fourth lowest monthly sales in the past 42 months. The previous lowest monthly sales for Ola were in August 2022 – 3,476 units – as per the retail data on the Vahan portal. 

Ola though is ahead of GEM when it comes to calendar-year and FY2026 YTD sales. While Ola has delivered 11,421 e-2Ws in the January 1-February 27, 2026 period, GEM has sold 9,820 units – a difference of 1,601 units. In FY2026 to date (April 1, 2025 to February 27, 2026), Ola has clocked retail sales of 154,080 units to GEM’s 53,431 units. This gives Ola the No. 5 rank in CY2026 YTD after TVS (290,731 units), Bajaj Auto (241,774 units), Ather Energy (202,241 units) and Hero MotoCorp (122,216 units) and ahead of GEM (53,431 units).

Greaves Electric Mobility’s highest monthly sales in the current fiscal were in October 2025 (7,642 units). It is likely to end FY2026 with total e-scooter deliveries of around 60,000 units. 

In the first 11 months of FY2026, GEM has sold 53,431 e-scooters, up 52% YoY (April 2024-February 2025: 35,222 units). The highest monthly sales this fiscal were in festive October 2025 (7,642 units) albeit this is a lot less than the company’s highest-ever monthly sales – November 2022 (12,449 units). 

GEM PORTFOLIO TO EXPAND, NEW E-SCOOTER COMING IN FY2027

Greaves Electric Mobility has three key e-scooter brands – Nexus (EX and ST), Magnus (Neo, Grand, G-Max) and Reo (80). The flagship Ampere Nexus, which is targeted at families and equipped with a 3 kWh LFP battery, has a claimed top speed of 93kph and a certified range of 136km. Sold in two variants, prices start at Rs 119,900 (ex-showroom). 

The Magnus series opens with the 2.3 kWh battery-equipped Neo priced at Rs 86,999, 80-95km real-world range and 65kph top speed.  The Magnus Neo is followed by the Magnus Grand which has the same 2.3 kWh LFP battery and range, 65kph top speed and an ex-showroom price of Rs 89,999 (ex-showroom). Then there’s the Magnus G-Max, priced at Rs 94,999 (ex-showroom) and equipped with a 3 kWh battery has a claimed 100km range and 65kph top speed. The Reo 80, which is the most affordable GEM e-scooter and launched in April 2025 at Rs 59,900, travels 80km on a single charge. 

On February 19, GEM and Ampere Vehicles announced plans to launch a new model – the Ampere 6th Gen Electric Scooter – aimed to draw buyers from the conventional petrol-engined scooter market. Set for launch in FY2027, the model aims to “deliver better performance while offering better ownership economics with the potential to challenge high-selling petrol scooters in the sub-Rs 100,000 category”.

Key highlights of the upcoming model include high torque for quicker pickup and stronger load-carrying capability, improved gradeability, reducing running costs by 50% (versus ICE scooters) while providing benefits of home charging, reverse mode, and reduced maintenance, and Over-The-Air (OTA) update capability, AI/ML enabled for seamless connectivity, and remote diagnostics and prognostics.

Watch this space as we bring you the latest sales and news updates on the EV world. . . on two and more wheels. 

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