Ampere Doubles Down on Sub-Rs 1 Lakh Segment; New 6th-Gen Electric Scooter Launch Confirmed for FY27

Greaves Electric Mobility (GEM) has officially announced that the sub Rs 1 lakh price bracket will remain the "cornerstone" of its growth strategy. As competition intensifies in the Indian electric two wheeler market, GEM’s flagship brand, Ampere, is positioning itself to capture the mass market by prioritizing affordability and operational scale.

Dominating the Value Segment

While several EV startups and legacy manufacturers are attempting to scale down from premium offerings to budget models, Ampere is taking the opposite approach. Managing Director Vikas Singh highlighted that the company’s deep rooted presence in the value segment provides a structural advantage.

"In a country like India, the sub-Rs 1 lakh segment is the mainstay where the population and growth potential reside," Singh stated. This strategy is already yielding results; in February 2026, Ampere climbed to the fifth spot in retail sales, even overtaking Ola Electric during that specific month with 4,478 units sold.

The Road to FY2027: 6th-Gen Scooters and Platform Consolidation

To solidify its market position, Ampere has confirmed the development of a sixth generation mass market electric scooter slated for a financial year 2027 (FY27) launch. This model is specifically engineered to replace traditional petrol powered scooters by offering a superior cost to performance ratio.

To maintain competitive pricing, the company is consolidating its vehicle platforms into a single, scalable architecture. This move is expected to improve manufacturing efficiency and allow for faster product rollout cycles.

₹1,000 Crore IPO and Infrastructure Expansion

Greaves Electric Mobility is also preparing for a major capital market entry. The company has received regulatory approval for an Initial Public Offering (IPO) aiming to raise ₹1,000 crore.

The proceeds are earmarked for:

• R&D: Strengthening the technology center in Bengaluru.

• Manufacturing: Establishing an in-house battery pack assembly line at the Ranipet facility by FY27.

• Global Footprint: Expanding export operations following successful entries in Nepal and the Philippines.

Market Outlook: Beyond Subsidies

Despite the gradual reduction of government demand subsidies like the PM E-DRIVE scheme, GEM remains bullish. The company notes that long term economics specifically lower daily running costs and minimal maintenance are now the primary drivers for Indian consumers.

With a current market share of 4.4% and a 51% year-on-year registration growth, Ampere is now setting its sights on a double digit market share, supported by a retail network of over 500 dealers across 27 states.