Electric two-wheelers have become one of the most important segments in India’s EV transition because of their relatively lower purchase cost, lower running costs and suitability for urban mobility. According to the International Energy Agency, India was the second-largest electric two-wheeler market in 2025, with sales of less than 1.3 million units, up about 5% year-on-year and representing roughly 6% of total two-wheeler sales. Globally, electric two-wheeler sales were close to 10 million units in 2025.
The ecosystem is also becoming more localised. Under the PM E-DRIVE framework, electric two-wheelers are subject to phased manufacturing requirements aimed at increasing domestic sourcing of specified components. The scheme has also seen further amendments in 2026, including an extension of the e-2W timeline, supporting continued development of the domestic EV manufacturing ecosystem.
This shift matters because an electric scooter or motorcycle contains a different mix of value-added components compared with an ICE two-wheeler. Battery packs, BMS, motors, inverters/controllers, chargers, DC-DC converters and electronic systems become much more important, creating opportunities for established auto-component companies.
1. Sona BLW Precision Forgings – Motors, Hub Motors & Controllers
Sona BLW Precision Forgings, better known as Sona Comstar, is building an EV powertrain portfolio around motors, driveline systems and electronics. For electric two-wheelers, its portfolio includes hub-wheel motors and drive motors, while integrated hub motor-controller systems and standalone controllers are among its development programmes. The company’s technology roadmap also covers integrated motor-controller solutions and inverter technologies.
Also Read: Pine Labs Announces 10 Lakh Cloud Soundbox Deployment to Drive Offline UPI Growth
The company already has significant exposure to electrification. In FY26, Sona Comstar reported ₹4,475 crore of revenue, while BEV revenue stood at about ₹1,154 crore, accounting for around 35% of automotive revenue. However, BEV revenue declined 6% year-on-year in FY26, showing that EV exposure does not necessarily translate into uninterrupted growth every quarter. For the two-wheeler ecosystem, its significance lies in combining its traditional precision-driveline expertise with electric motor and powertrain technology.
2. Varroc Engineering – Motor, Controller, Charger & BMS
Varroc has built one of the broader EV component portfolios among Indian suppliers. Its current 2W/3W EV offering includes PMSM traction motors, motor controllers, on-board chargers, battery and BMS systems, DC-DC converters, VCUs, throttle systems and LED headlamps. The company says these products are locally designed, developed and manufactured in India.
Varroc has also highlighted its ability to supply multiple systems instead of being restricted to a single component. The company has stated that its content value was approximately ₹35,000 per electric two-wheeler and ₹40,000 per three-wheeler, although this represents the company’s stated content opportunity rather than a guaranteed revenue figure for every vehicle.
Its EV mobility business has also been scaling, with quarterly EV-related revenue reaching about ₹134.9 crore in Q4 FY26 according to the company’s investor presentation.
3. Uno Minda – BMS, Motor Controllers, Chargers & More
Uno Minda is taking a multi-component approach to EVs, rather than betting on a single product. Its EV portfolio for two- and three-wheelers includes battery management systems, motor controllers, on-board and off-board chargers, DC-DC converters, traction motors, RCD cables, body-control modules, telematics and related electronics.
Uno Minda’s wholly owned subsidiary, Uno Minda EV Systems, specializes in electric two- and three-wheeler components and systems, scaling rapidly as a core driver of the company’s Green Mobility portfolio.
Demonstrating this strong growth trajectory, the business achieved a record quarterly revenue of ₹186 crore in Q1 FY27, representing a impressive 130% year-on-year surge. This rapid expansion is primarily fueled by rising EV adoption across the country, expanding supply share with existing clients, and accelerating demand within its e-3W charger operations.The company’s portfolio approach allows it to increase the amount of content supplied per EV as vehicles become more electronics-heavy.
4. Suprajit Engineering – Control Cables & Electronic Controls
Suprajit represents a different part of the EV supply chain. Instead of focusing primarily on the electric powertrain, it manufactures mechanical control cables and control systems used across vehicle applications.
For two-wheelers, its cable portfolio includes brake, throttle, clutch, seat-lock and other control cables. Importantly, Suprajit describes control cables as broadly drivetrain/EV agnostic, meaning the transition from ICE to EV does not eliminate the relevance of many cable applications. Its Haridwar facility also supplies control and speedometer cables to two-wheeler and EV OEM customers.
The company also operates beyond conventional cables through electronic throttle controls, actuators, electronics and other motion-control products, which can create additional content opportunities as vehicle architectures become increasingly electronic. Suprajit’s SED business, which supplies electronic throttles, sensors and digital clusters for EVs, grew revenue 48% YoY to ₹45 crore in Q1 FY27, with EBITDA doubling to ₹4.2 crore. Its Doddaballapura facility supplies EV players, including Ather, Ultraviolette, Hero Electric and Tork Motors, strengthening its exposure to the electric two-wheeler ecosystem.
5. Amara Raja Energy & Mobility – Battery Cells, Packs & Chargers
Amara Raja is targeting one of the highest-value parts of the EV supply chain: energy storage. Through its new-energy businesses, the company is developing lithium-ion cells, battery packs, BMS technologies and EV chargers. Its product portfolio already includes NMC and LFP battery packs for two-wheelers and chargers ranging from portable units to higher-power systems.
Also Read: Action Construction’s Cranes Are Costlier Than Ever. Is Demand the Next Casualty?
The company currently has operating battery-pack capacity and is expanding its cell-manufacturing footprint through the Amara Raja Giga Corridor in Telangana. The broader plan includes a long-term 16 GWh cell-manufacturing capacity, while the first phase involves a 4 GWh facility.
Amara Raja has also entered into development and supply discussions with EV players including Ather and Piaggio for cells and battery packs for electric mobility applications.
The Bigger Picture
The electric two-wheeler opportunity is therefore not limited to companies selling scooters and motorcycles. Every increase in EV penetration can raise demand for motors, controllers, BMS, batteries, chargers, electronics and specialised control systems.
At the same time, the sector is still developing. Battery chemistry, localisation, raw-material costs, technology cycles, OEM sourcing strategies and government incentives can all influence supplier economics. The companies above also have different degrees of EV exposure, so their performance will depend not only on EV volumes but on what components they supply, how much value they capture per vehicle and how quickly new programmes move into mass production.
India’s electric two-wheeler transition is consequently becoming a broader automotive-component story, with established suppliers increasingly moving from traditional parts toward the electronics and energy systems that define the electric vehicle.