Zelio E Mobility

What Zelio E Mobility does

Zelio E-Mobility Limited is a publicly listed (BSE SME, ticker 544563) Indian manufacturer of electric two-wheelers and three-wheelers, founded in 2021 and headquartered in Hisar, Haryana. The company designs, manufactures, and sells more than 19 electric scooter models across entry-level (Eeva series from Rs 47,784), mid-range (Gracy, Logix, Legender), and premium/sport segments (X-Men, Mystery up to Rs 88,034), plus three electric three-wheeler e-rickshaws (Tanga Butterfly, Tanga SS, Tanga Nine+). Core technology centres on BLDC hub motors with BLDC/PMSM options, lead-acid gel and lithium-ion battery packs, and an IoT-enabled Battery Management System (BMS) that monitors cell voltage and temperature in real time; premium models also feature regenerative braking. Low-speed variants (under 25 km/h, motor below 250W) require no driving licence or RTO registration, which is a central product design choice targeting students, homemakers, and seniors excluded from conventional two-wheeler ownership.

Zelio sells exclusively through a pan-India dealer network of 350+ authorised showrooms across 25+ states and union territories, with no direct e-commerce channel; financing is enabled through partnerships with Kotak Mahindra Bank, Ecofy, and other NBFCs at the point of sale. Manufacturing runs across four domestic plants — two in Hisar, one in Cuttack (commissioned February 2026), and one in Coimbatore (planned July 2026) — lifting installed capacity from 180,000 to a targeted 240,000 units per annum. FY26 revenue was Rs 313.68 crore (up 81.8% YoY) with Rs 28.39 crore net profit and Rs 38.01 crore EBITDA at 12.2% margin, supported by a 200,000+ installed rider base, a 4-year ~121% revenue CAGR, and a Rs 78.34 crore BSE SME IPO completed in October 2025.

The business is organised around three revenue streams — electric two-wheeler sales, electric three-wheeler sales, and auto component manufacturing through wholly-owned subsidiary Zelio Auto Components (established May 2025). Customer segments span Tier-2/Tier-3 commuters, hyperlocal delivery partners for Swiggy, Zomato, Blinkit, and Zepto, small-business owners using cargo variants, and price-sensitive individual buyers seeking fuel-cost arbitrage (claimed Rs 0.25/km vs Rs 2.5/km for petrol). The company is led by Managing Director and founder Kunal Arya, with Divyanshu Agarwal (ex-Navi/UPI) appointed CEO in April 2026 to professionalise operations ahead of the planned scale-up.

Name

Zelio E Mobility

Legal name

Zelio E-Mobility Limited

Website

https://zelioebikes.com

Company type

Public

Founded year

2021

Operating status

Ipo

Headcount range

101–250 employees

Short description

Zelio E-Mobility is a publicly listed Indian manufacturer of affordable electric two-wheelers and three-wheelers, serving Tier-2/Tier-3 commuters, gig workers, and small businesses through 350+ dealers across 25+ states via four domestic manufacturing plants.

Ownership category

akta.pro rank

Product category

Electric Two-Wheeler and Three-Wheeler Manufacturing

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Electric Motorcycles & Electric Scooters Manufacturing (IMACAEAB)

akta.pro secondary industries

E-Scooters (Stand-Up) (CRACASAB), E-Mopeds & Light Electric Motorbikes (Consumer) (CRACASAG)

Keywords

• Electric two-wheelers
• Electric three-wheelers
• Electric scooters
• E-rickshaw manufacturing
• Affordable EV mobility

Headquarters

HQ city

Hisar

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Electric Two-Wheeler Sales: Primary revenue from manufacturing and selling electric two-wheelers and three-wheelers under the Zelio brand across India through dealer network.
2. Electric Three-Wheeler Sales: Revenue from electric three-wheeler e-rickshaws including Tanga Butterfly and Tanga SS models for last-mile mobility.
3. Auto Components Manufacturing: Zelio established Zelio Auto Components as a subsidiary in May 2025 to manufacture auto components, adding a new revenue stream.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Zelio E-Mobility manufactures and sells affordable electric two-wheelers and three-wheelers designed for Indian non-metro and Tier-2/Tier-3 city markets. The portfolio spans 19+ electric scooter models (entry-level Eeva series through premium Legender+ Premium, sporty X-Men, cargo Logix, and high-speed Mystery) plus electric three-wheelers (Tanga Nine+, Tanga Butterfly, Tanga SS) for passenger and cargo transport. Vehicles use BLDC hub motors with lead-acid or lithium-ion batteries and IoT-enabled battery management systems.

Product overview

Zelio E-Mobility is an Indian electric two-wheeler and three-wheeler manufacturer offering a diverse portfolio of 19+ electric scooter models and electric three-wheelers. The product lineup spans budget-friendly entry-level models (Eeva series) to premium long-range variants (Legender+ Premium), sporty designs (X-Men series), and cargo-focused scooters (Logix/Logix Loader). The company also offers electric three-wheelers including the Tanga Nine+, Tanga Butterfly, and Tanga SS. All low-speed models (under 25 km/h) require no driving licence or RTO registration, while the Mystery high-speed model requires licence and registration. Zelio operates four manufacturing facilities (Hisar, Ladwa, Coimbatore, Cuttack) with 180,000 annual production capacity, and maintains a dealer network of 350+ outlets across 25+ Indian states serving 200,000+ customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Eeva Eco LX Budget electric scooter with tubeless alloy wheels, anti-theft alarm, keyless drive, USB port, range 60-80 km. No driving licence or RTO registration required under low-speed classification.
• Eeva Eco Entry-level daily commuter electric scooter with BLDC motor, anti-theft alarm with centre lock, keyless drive, USB port, digital speedometer, range 60-80 km.
• Eeva Eco ZX Enhanced variant with sharper design, DRL lighting, alloy wheels, parking gear, keyless drive, range 60-90 km.
• Eeva ZX Electric scooter variant with enhanced features and design styling over base Eeva.
• Eeva ZX+ Premium variant of Eeva ZX with additional features.
• EEVA (N) Lightweight practical electric scooter with lithium-ion battery option, suitable for daily city use.
• Little Gracy Compact, lightweight electric scooter designed for women riders, seniors, and first-time users; features CBS braking, alloy wheels, telescopic suspension, range up to 80 km.
• Gracy All-round electric scooter with 60V BLDC motor, range 60-90 km, anti-theft alarm, keyless drive.
• Gracy i Bestselling model with front disc brake, fast charging on lithium variant, telescopic hydraulic suspension, 60/72V motor, range 60-90 km, 2.5 lakh+ riders.
• Gracy+ Reinforced build for regular pillion use, same motor family as Gracy i, range 60-90 km.
• Gracy Pro Premium variant of Gracy with enhanced features and styling.
• Gracy 2026 New 2026 Gracy electric scooter targeting young urban commuters, college students, and women; 120 km range, four battery variants (lead-acid and lithium-ion), 50-litre boot space, front disc and rear drum brakes, priced Rs 59,999.
• Logix Cargo-focused electric scooter for delivery riders, shopkeepers, and small businesses, sturdy frame with practical load capacity, range 60-90 km.
• Logix Loader Heavy-duty cargo variant of Logix, reinforced frame for commercial delivery operations, range 100-120 km per charge.
• Logix Cargo 2026 Facelift cargo e-scooter targeting gig workers, delivery partners, and small businesses with 150 kg loading capacity, anti-theft detection, real-time diagnostics, 2-year vehicle warranty, and 1-year battery warranty, priced Rs 56,551.
• Legender Premium electric scooter with solid range and modern features, range 100-120 km.
• Legender+ Enhanced Legender variant with improved specifications and features.
• Legender+ Premium Premium long-range variant with 120 km lithium range, combi brake system, larger 12-inch tyres; highest range in lineup under Rs 70,000.
• X-Men+ Sporty electric scooter with wide 90-100/10 tyres, bold bodywork, front disc brake, LED lighting, range 60-100 km on lithium variant.
• X-Men+ 2026 New 2026 X-Men+ electric scooter with design updates, 120 km per charge range, 25 kmph top speed, 60V/72V BLDC hub motor, 180 kg loading capacity, priced approximately Rs 60,000.
• X-Men 2.0 Most capable scooter in lineup, dual disc brakes front and rear, telescopic front fork, spring-loaded rear suspension, 180 kg weight capacity, 74V/32AH lithium battery option, range up to 90 km.
• Mystery High-speed electric scooter requiring driving licence and RTO registration, top speed above 25 km/h, range 100 km.
• Tanga Nine+ Electric three-wheeler (e-rickshaw) with Autosafe front design, 8-passenger capacity, top speed 45-50 km/h, range up to 150 km, powered by 2.5 kW BLDC/PMSM motor, designed for last-mile passenger transport in Tier-2 and Tier-3 cities.
• Tanga Butterfly Electric three-wheeler e-rickshaw for passenger transport, covered under 2-year transferable warranty.
• Tanga SS Electric three-wheeler e-rickshaw for passenger transport, covered under 2-year transferable warranty.

Quantifiable outcome

• 90% reduction in per km running cost: Rs 0.25/km electric vs Rs 2.5/km petrol
• +6 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Punjab KingsminorGTM or Marketing Partner · 15 April 2026Zelio E-Mobility became the official electric vehicle (EV) sponsor for Punjab Kings for the 2026 IPL cricket season. Partnership includes branding rights at matches, digital media activation, and featuring Zelio EV models during live games, targeting consumer engagement across diverse cricket-viewing demographics in India.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Hero Electric: Established Indian electric two-wheeler manufacturer with broad model portfolio including low-speed and high-speed scooters. Directly comparable to Zelio's affordable, mass-market positioning and pan-India dealer distribution.
• Ather Energy: Bengaluru-based premium electric scooter maker competing in the same Indian two-wheeler electrification market. Comparable on product category (e-scooters) and target customer (urban commuters), though Ather skews premium and metro-focused.
• Bounce Infinity: Bengaluru-based electric scooter maker focused on affordable, swappable-battery models. Comparable to Zelio on price-conscious positioning and India-wide ambition, though smaller scale.
• Okinawa Autotech: Indian electric two-wheeler manufacturer offering low- and high-speed scooters aimed at mass-market buyers. Directly comparable on affordable pricing, low-speed models, and Tier-2/Tier-3 distribution strategy.
• Ola Electric: India's largest electric two-wheeler manufacturer selling e-scooters through an expanding dealer network across metros and Tier-2 cities. Direct competitor to Zelio across e-scooter categories, though Ola focuses more on premium/high-speed models.
• Ampere Electric (by Greaves Cotton): Indian electric scooter maker owned by Greaves Cotton, focused on affordable personal and commercial e-mobility. Comparable product line and target customer profile to Zelio, with similar non-metro distribution emphasis.

Emerging players

• Simple Energy: Indian electric two-wheeler startup with the Simple One e-scooter. Comparable on product category and Indian market, though Simple targets higher-performance premium positioning rather than Zelio's affordable mass-market approach.

Broad incumbents

• Mahindra Electric (formerly Mahindra Two Wheelers / Peugeot e-Ludix): Mahindra Group's EV arm with electric three-wheeler and small commercial vehicle offerings. Comparable to Zelio's e-rickshaw (Tanga series) commercial transport focus, with broader portfolio and stronger group backing.
• TVS Motor Company (iQube): Major Indian two-wheeler incumbent with the iQube electric scooter line. Overlaps with Zelio in e-scooter category but TVS operates a much broader ICE+EV portfolio with vastly larger distribution and brand equity.
• Bajaj Auto (Chetak Electric): India's largest two-wheeler manufacturer with the Chetak Electric line. Comparable on product category and customer base but with significantly deeper capital, R&D, and distribution than Zelio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/zelioebikes
• Facebookfacebook.com/Zelioebikes
• LinkedInlinkedin.com/company/zelio-e-bikes

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zelio E Mobility