Greaves Electric targets double-digit market share through expansion push

Greaves Electric Mobility is charting an aggressive growth strategy to establish itself as a major player in India's rapidly expanding electric two-wheeler sector. The company has set its sights on capturing market share exceeding 10%, a significant jump from its current position in a fragmented but fast-growing segment.

To achieve this target, the manufacturer is pursuing a multi-pronged approach that includes broadening its electric two-wheeler portfolio to cater to diverse customer segments and price points. The expansion strategy encompasses strengthening its domestic distribution infrastructure to reach more consumers across urban and semi-urban markets.

Export markets are also emerging as a key growth driver for the company. Greaves Electric is looking to leverage its manufacturing expertise and product offerings to tap demand in neighbouring South and Southeast Asian markets where two-wheeler penetration remains high.

Crucially, the company is investing in developing its own battery manufacturing capabilities, moving beyond reliance on third-party suppliers. Enhanced control over battery production is expected to improve margins, reduce costs, and enable faster product innovation—factors increasingly critical as competition intensifies in India's electric two-wheeler space.

The push comes at a time when India's electric two-wheeler market is witnessing rapid growth, driven by government incentives, rising fuel costs, and growing environmental consciousness among consumers. Industry analysts note that the segment remains highly competitive, with numerous players vying for share in a market still dominated by traditional internal combustion engine two-wheelers.