Enigma Electric Vehicles, one of India’s leading homegrown EV manufacturers, has reported a remarkable 300% year-on-year increase in turnover for FY 2024–25, reinforcing its strong market position and deepening consumer trust in the fast-evolving electric mobility sector.
The company sold close to 4,000 electric two-wheelers during the fiscal, a significant leap supported by a growing network and strong consumer interest in sustainable last-mile solutions. Enigma expanded its dealership footprint from 35 dealers in FY 23–24 to 65 dealers in FY 24–25, and currently operates through 80 active dealerships across India.
The brand also witnessed robust geographic expansion, entering new territories including Hyderabad, Bihar, Rajasthan, and Maharashtra, while Tamil Nadu and Delhi emerged as top-performing markets due to increased customer awareness and a shift in preference from larger brands to trusted, agile players. The company’s flagship model, GT450, emerged as the bestseller of the year.
“We’ve always believed that quality speaks louder than marketing. Enigma’s decade-long journey has been built on consistent product excellence and the trust of our customers. As we move into the B2B space and support the gig economy, we are doubling down on innovation, efficiency, and sustainability. Our goal is not just to grow, but to grow responsibly—creating real impact through cleaner mobility,” said Anmol Bohre, Co-founder and Managing Director of Enigma EV.
“This 300% revenue growth is a reflection of the trust we’ve earned over the years and the agility with which we’ve adapted to market needs. From working closely with government clients like the Indian Army and BARC to developing reliable vehicles for gig workers, we’re proud to be at the forefront of India’s EV transition,” said Alankrit Bohre, Co-founder and Chief Operating Officer, Enigma EV.
Enigma’s vision extends beyond retail. With six government clients already on board—including the Indian Army, Indian Air Force, and BARC—the company is now strategically expanding into B2B solutions, especially for last-mile delivery sectors. It plans to sell 10,000 units over the next two years, targeting gig workers with dependable, high-quality electric mobility solutions.
“As India accelerates toward a greener future, Enigma is committed to being a catalyst of change. Our focus is to lead with empathy, innovate with purpose, and ensure that sustainable mobility is accessible to all—whether it’s a daily commuter or a delivery partner on the road,” added Anmol Bohre.
Founded in 2015, Enigma has emerged as a pioneering force in India’s EV ecosystem, offering a range of eco-friendly, reliable, and efficient two-wheelers. From product R&D to post-sales service, the company continues to invest across the entire EV value chain to build a future-ready brand.
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