India’s auto market started FY27 strongly in April 2026, with EVs and SUVs driving the momentum. Overall EV sales jumped 41% YoY, led by a 61% surge in electric two-wheelers. Tata Motors stood out in passenger vehicles, clocking 59,000 sales and powering its growth largely through the Punch and Nexon SUVs.
Ather Energy logged its strongest FY26 performance, selling 2.63 lakh electric two-wheelers—up 69%—and lifting revenue 63% to Rs 3,671 crore. The company also exceeded Rs 1,000 crore in quarterly revenue, with growth largely fueled by its family scooter Rizta and an expanding sales and service network, while net losses narrowed as it scales up manufacturing and new platforms.
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Ultraviolette, the TVS-backed electric two-wheeler startup, has struggled to grow beyond modest volumes for years, largely because its premium pricing limited mainstream appeal. Now, with renewed momentum in the EV two-wheeler segment led by competitors like Ather, Ultraviolette is trying to break through and reach meaningful scale. Can it finally turn attention into sales?
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