Evex Auto India Pvt Ltd

What Evex Auto India Pvt Ltd does

Evex Auto India Pvt Ltd is an Indian electric vehicle manufacturer incorporated in 2021 and headquartered at an in-house ISO 9001 and ISO 14001 certified facility in Gurugram, Haryana. The company designs, manufactures, and sells ICAT-certified and RTO-registered electric 2-wheelers and 3-wheelers, with a current product portfolio comprising the Ranger E-Rickshaw (passenger, 120km range), Ranger E-Loader (cargo, 500kg capacity, 100km range), Raptor E-Scooter (urban 2-wheeler, 80km range), and a Custom Cargo EV built to commercial specification. Vehicle pricing is positioned at mass-market accessibility with EMI options starting from ₹2,299 per month, supported by an integrated finance partner ecosystem.

The business operates four go-to-market motions: direct-to-consumer online sales with 48-hour doorstep delivery via Razorpay-enabled checkout; a pan-India authorised dealer network of 50+ partners across Haryana, Uttar Pradesh, Delhi NCR, Madhya Pradesh, Uttarakhand, and Chhattisgarh; enterprise fleet deployment for e-commerce and quick-commerce operators including Zomato, Blinkit, Swiggy, Amazon, Flipkart, and Meesho, covering vehicle supply, driver onboarding, maintenance, and battery management; and white-label contract manufacturing for regional EV brands and international OEMs with end-to-end ICAT, ARAI, and FAME-II homologation support. Revenue is generated through one-time hardware sales, dealer and franchise licensing, fleet managed services, and affiliate referrals from 7 finance partners.

Founded as a Private Limited Company (CIN U35923HR2021PTC093004), Evex is privately held with no disclosed institutional investors, parent entity, or funding rounds to date. The company claims measurable social and environmental impact of 2,400+ tons of CO2 saved annually, 1,200+ gig-economy jobs created, and ₹8 crore in annual fuel savings for customers, and positions itself within India's FAME-II government incentive framework.

Name

Evex Auto India Pvt Ltd

Legal name

Evex Auto India Pvt. Ltd.

Website

https://evexauto.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Evex Auto India is a Gurugram-based EV manufacturer founded in 2021, producing ICAT-certified electric 2-wheelers and 3-wheelers for individual buyers, dealers, enterprise fleet operators, and white-label OEM customers across India.

Ownership category

akta.pro rank

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. EV Vehicle Sales: Direct sales of electric 2-wheelers and 3-wheelers to consumers and businesses through online platform and dealer network. One-time hardware purchase model with financing options through partnered NBFCs and banks.
2. Dealer Franchise Network: Revenue from authorized dealers through vehicle supply, spare parts, and service agreements. Dealer margins on every vehicle sold plus service revenue.
3. Contract Manufacturing: White-label manufacturing, custom engineering, and component supply services for brands seeking EV production capacity. End-to-end homologation support for ICAT, ARAI, and FAME-II certification.
4. Fleet Deployment Services: End-to-end fleet solutions including vehicle supply, driver onboarding, maintenance services, and battery management infrastructure for B2B logistics and delivery companies.
5. Financing Partnerships: Revenue generated through 7 finance partners including banks, NBFCs, and fintech lenders providing EMI financing to customers at checkout via Razorpay.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels5 records

Core offering

Evex Auto India manufactures ICAT- and RTO-certified electric two-wheelers and three-wheelers (e-rickshaws, e-loaders, e-scooters) at its in-house ISO 9001/14001 certified facility in Gurugram, Haryana, and sells them directly to consumers, through a 50+ pan-India dealer network, and to enterprise fleet customers in e-commerce, quick commerce, and logistics. Beyond vehicle sales, the company delivers end-to-end fleet deployment services (vehicle supply, driver onboarding, maintenance, and battery management) and white-label contract manufacturing for OEM partners seeking ICAT-approved EV production capacity.

Product overview

EVEX Auto India operates as an ICAT and RTO-certified electric vehicle manufacturer based in Gurugram, Haryana, offering a portfolio of electric 2-wheelers and 3-wheelers. The core product lineup consists of four named EV models: the Ranger E-Rickshaw (3-wheel passenger rickshaw), Ranger E-Loader (3-wheel cargo vehicle), Raptor E-Scooter (2-wheel urban scooter), and Custom Cargo EV (bespoke cargo build). These vehicles are sold directly to consumers and businesses through an online ordering platform with 48-hour doorstep delivery, a pan-India network of 50+ authorised dealers, and flexible financing through 7 finance partners. Beyond vehicle sales, the company offers complementary service modules including Fleet Deployment (end-to-end EV fleet management for logistics and delivery companies), Contract Manufacturing (white-label EV production on ICAT-approved platforms), and a Dealer Partnership Program. The company holds ISO 9001 and 14001 certifications and has been operating since 2021.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• ₹8 Crore+ annual fuel savings for customers
• +5 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• RazorpaycoreTechnology or IntegrationPayment gateway integration enabling seamless checkout with UPI, cards, and EMI options at purchase. Powers the secure payment experience on the e-commerce platform.
• FAME II PolicycoreOthersGovernment of India EV incentive scheme alignment making all vehicles eligible for FAME II subsidies and incentives.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• TVS Motor Company: Major Indian two- and three-wheeler manufacturer with an expanding EV lineup including the iQube electric scooter. Operates broadly in the same Indian mobility space as Evex, with deeper R&D, brand, and capital resources.
• Mahindra Electric: Established Indian EV arm of the Mahindra Group, producing the Treo electric three-wheeler for passenger and cargo segments. Competes most directly with Evex's Ranger E-Rickshaw and E-Loader, with stronger brand backing and dealer integration.
• Bajaj Auto: One of India's largest two- and three-wheeler OEMs, with a growing EV portfolio and unmatched dealer and service network. Competes broadly with Evex across passenger and commercial 3W categories, leveraging scale advantages that Evex cannot match.

Direct peers

• Ola Electric: India's largest pure-play electric two-wheeler manufacturer, with a broad e-scooter portfolio, large captive manufacturing, and a public-market listing that has brought significant capital. Directly competes with Evex's Raptor E-Scooter in the Indian urban e-2W segment.
• Okinawa Autotech: Indian electric scooter manufacturer focused on affordable, ICAT-approved models for mass-market and rural buyers. Directly comparable to Evex on price points, regulatory positioning, and target customer segments.
• Ather Energy: Indian premium electric scooter manufacturer with proprietary battery technology, fast-charging network, and a fast-growing retail footprint. Competes head-to-head with Evex for urban e-scooter buyers and is a benchmark for product quality in the same category.
• Hero Electric: Long-established Indian mass-market electric two-wheeler manufacturer with deep dealer reach and an affordable product portfolio. Directly overlaps with Evex in the budget e-scooter space where price-driven buyers and fleet customers make purchase decisions.
• Ampere Vehicles (Greaves Cotton): Electric two-wheeler brand owned by Greaves Cotton, offering affordable e-scooters and last-mile commercial EVs. Directly competes with Evex in both the consumer e-scooter and commercial 3W/2W fleet segments, with similar FAME-II alignment.
• Piaggio Vehicles: Indian subsidiary of Italy's Piaggio, a leading three-wheeler manufacturer with electric variants of the Ape platform for passenger and cargo use. Directly competes with Evex in the e-rickshaw and e-loader segments with established commercial-vehicle credibility.

Emerging players

• Bounce Infinity: Indian electric scooter startup that pioneered a battery-swap model and affordable e-scooter lineup. Partially overlaps with Evex in the urban e-scooter category but differentiates through battery-swap infrastructure rather than direct sales and dealer-led distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/evex-auto-india-pvt-ltd

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

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 Evex Auto India Pvt Ltd