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| 1mOla Electric gains market share in FY24, but so do TVS, Bajaj
Ola Electric has seen a significant increase in market share, becoming a leader in the sales of two-wheeler electric vehicles for the fiscal year ending March 2024. Bajaj and TVS Motors have also experienced impressive gains. Ola's market share rose to 35% from 22%, Bajaj Auto went from 4.2% to 12.4%, and TVS Motors increased to 19.5% from 12%. Ather Energy maintained its market share at 11.5%. However, the gains for Ola and Bajaj came at the expense of Okinawa and Hero Electric. The increase in sales can be attributed to the expiration of FAME II subsidies and the government's interim policy. Ola Electric has also filed for a $660 million primary share sale.
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