Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton, has surpassed 3 lakh units in cumulative retail sales. The data, sourced from the Vahan portal, which encompasses e-two-wheeler (e2W) deliveries of both GEM and Ampere Vehicles (before its amalgamation into the former), puts the cumulative figure at 3,00,293 units (May 2019 to June 17, 2026).
GEM, which completed its acquisition of the Coimbatore-based EV startup Ampere Vehicles in November 2019, had surpassed the 2.50 lakh-unit mark by the end of October 2025. The last 50,000 Ampere e-scooters needed to achieve the 3 lakh milestone have been sold in a little less than eight months, with strong monthly numbers coming up from March 2026.
GEM could register highest annual sales in 2026
As the data presented above reveals, GEM’s best year so far was in 2022 with 80,266 units. In the following two years, sales fell by 16 percent (2023: 67,366 units) and 45 percent (2024: 37,070 units) before demand revived in 2025 with 57,851 units sold, a 56 percent year-on-year (YoY) increase. One of the highlights for the company came in February 2025, when GEM outsold Ola Electric and moved up to fifth rank in the monthly top 10 listing for the first time – a development first reported by our sister publication, Autocar Professional.
GEM, which is gearing up for a listing following regulatory approval for its initial public offering (IPO), is registering similar strong double-digit growth in 2026. In the first five-and-a-half months of the year, Ampere delivered 38,430 units, a 58 percent YoY growth, and captured a 4 percent share of the 8,76,328 e-scooters sold in India between January 1 and June 17. With this, Ampere ranked sixth in the industry after TVS Motor, Bajaj Auto, Ather Energy, Hero Vida and Ola Electric.
This year began with 5,421 units in January and 4,762 units in February, but demand has risen strongly since then. There have been three straight months of 7,000-plus sales: March (7,988 units, up 38 percent), April (7,013 units, up 71 percent) and May (7,703 units, up 78 percent). In the last week of April, GEM launched the updated Magnus Neo, priced at Rs 86,000 and targeted at urban commuters. With 5,543 e-scooters sold in the first 17 days of June, this month could see GEM register over 9,500 units and possibly even cross the 10,000 units mark.
The company essentially has three key e-scooter brands: Nexus (EX and ST), Magnus (Neo, Grand, G Max) and Reo (80, VYB). Monthly numbers are expected to rise following the launch of GEM’s newest e-scooter – the Reo VYB – on June 17. This product launch aligns with the company’s strategy to target buyers in the sub-Rs 1 lakh e-scooter segment even as it builds its presence in the premium e-scooter market with products such as the Nexus.
GEM, which has steadily expanded its distribution network, now operates in around 27 states through over 500 electric two-wheeler dealers. The company also offers Ampere Care after-sales service at over 400 touchpoints across India.
Vishal Venugopal
Ved Janve
Azaman Chothia
