A two-speed transmission having two clutches for an electric vehicle includes an electric motor, a middle shaft, a first clutch, a second clutch, a first gear assembly and a second gear assembly. The electric motor includes a spindle. The first and second clutches are furnished on the middle shaft coaxially. The first gear assembly is furnished on the spindle and the first clutch respectively to generate a first gear ratio. The second gear assembly is furnished on the spindle and the first clutch respectively to generate a second gear ratio different from the first gear ratio. When the first clutch is activated to connect with the middle shaft, the second clutch separates from the middle shaft, and the electric motor outputs a first torque corresponding to the first gear ratio to the middle shaft. Similarly, the electric motor outputs a second torque corresponding to the second gear ratio.