River, BGauss, Oben Electric and Kinetic Watts & Volts offer four different reasons to look beyond India’s electric two-wheeler market leaders. October’s registration data puts their progress into perspective.
India’s electric two-wheeler conversation often revolves around TVS, Bajaj, Ather, Hero MotoCorp, Ola Electric and Greaves. Their scale makes that attention understandable. But the next layer of manufacturers deserves closer examination.
All India EV’s analysis of the supplied January–October 2026 VAHAN OEM data highlights four brands worth tracking: River, BGauss, Oben Electric and Kinetic Watts & Volts.
Calling them “underrated” is an editorial judgement. The data does not measure public perception, profitability or customer satisfaction. What it does reveal is registration momentum—and these four companies present distinct stories.
| Brand | September registrations | October registrations | MoM growth |
| River | 5,649 | 6,795 | 20.3% |
| BGauss | 4,644 | 5,195 | 11.9% |
| Oben Electric | 1,428 | 1,563 | 9.5% |
| Kinetic Watts & Volts | 572 | 812 | 42.0% |
River: A Challenger With Meaningful Scale
River makes the strongest case on absolute volume.
With 6,795 October registrations, it ranks seventh nationally in the supplied dataset. It added 1,146 registrations over September, and October was its strongest month across the ten-month period.
The longer trajectory matters. River recorded 2,855 registrations in January, crossed 6,000 in July, slipped in August and subsequently recovered to a new high.
That is evidence of a growing sales base, although it is not an uninterrupted climb. October registrations were 138% above January, while the increase over July was a more measured 12.4%.
For All India EV, River’s significance lies in the combination of scale and renewed momentum. The question now is whether it can sustain and expand that monthly base.
BGauss: Progress That Deserves Closer Attention
BGauss recorded 5,195 October registrations, placing it eighth nationally in the supplied data.
That represents 11.9% growth over September and a 126.1% increase over January’s 2,298 registrations. October was also its strongest month in the period.
However, the recent comparison needs context. BGauss had already reached 5,060 registrations in July. October was just 2.7% higher.
The story is therefore one of recovery and a gradually higher sales base. It would be premature to describe the latest result as a dramatic acceleration.
Even so, a smaller manufacturer recording more than 5,000 registrations in a month warrants attention. The next test is whether BGauss can turn that level into a consistent foundation for further growth.
Oben Electric: A Motorcycle Story to Follow
Oben’s recent trajectory is particularly interesting:
435 registrations in July → 643 in August → 1,428 in September → 1,563 in October.
October growth moderated to 9.5% month-on-month after September’s sharp increase. Nevertheless, registrations continued rising rather than immediately reversing.
Compared with January’s 373 registrations, October volume was 319% higher.
Oben also brings a different product-category perspective through its electric motorcycles. Its progress gives the industry another reason to examine how that segment develops alongside electric scooters.
The numbers support watching Oben closely. They do not yet establish sustained mass-market adoption or explain which products and markets drove the increase.
Kinetic Watts & Volts: A Comeback With Early Momentum
Kinetic Watts & Volts recorded 812 October registrations, up 42% from September’s 572.
Its recent progression provides useful context: 537 in July, 525 in August, 572 in September and 812 in October.
October volume was 51.2% above July, making the latest increase more than a comparison with an unusually weak September.
The January figure was only 55 registrations, so the resulting four-digit percentage increase should be treated carefully. A very small starting base can make growth look more dramatic than the underlying scale.
This analysis refers specifically to Kinetic Watts & Volts. Kinetic Green is a separate OEM entry in the supplied sheet and has not been combined with it.
What Deserves Attention Next
These four manufacturers should not be judged through one common growth headline.
River offers the largest volume. BGauss shows a recovering sales base. Oben brings a rising motorcycle registration trajectory. Kinetic Watts & Volts shows early momentum from a smaller starting point.
The next few months will help establish whether October’s gains become repeatable. Registration consistency, geographical spread, service capacity and customer experience will all matter—but the sales sheet alone cannot answer those questions.
For now, these are four brands with enough evidence behind their progress to earn a place on the industry’s watchlist.
