Tunwal E-Motors has reported ₹276.84 crore revenue in FY26, registering 55% year-on-year growth as demand for affordable electric two-wheelers rises across Tier II and Tier III cities.
Strong Growth Beyond Metro Markets
Tunwal E-Motors reported revenue of ₹276.84 crore for FY26, registering a 55% year-on-year growth compared to ₹178.59 crore in the previous financial year. The company’s profit after tax also rose 57% to ₹12.73 crore.
The performance highlights the growing demand for affordable electric two-wheelers beyond India’s metro cities. Tunwal’s growth has largely been driven by stronger adoption across Tier II and Tier III markets, where practical mobility, lower running costs and financing access are becoming key purchase drivers.
Key Drivers Behind Tunwal’s Growth
- Expansion across Tier II and Tier III cities
- Stronger presence in Eastern India
- Growth in dealer and distribution network
- Better financing accessibility for customers
- Investments in after-sales service infrastructure
India’s Next EV Growth Wave
Tunwal’s performance comes at a time when India’s electric two-wheeler market is becoming increasingly affordability-driven. While premium EVs continue to gain traction in urban markets, the next major growth phase is expected to come from commuter-focused mobility solutions across Bharat markets.
The company stated that the electric two-wheeler segment grew around 22% during FY26. Tunwal’s 55% revenue growth significantly outpaced the broader industry benchmark.
Why The Market Shift Matters
As subsidy structures evolve and pricing pressure increases, EV brands with stronger regional distribution, financing support and ownership ecosystems are likely to scale faster.
Tunwal’s FY26 performance reflects a larger industry shift where practical mobility solutions, affordability and service reliability are emerging as key EV growth drivers across smaller cities.
