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TVS leads May EV 2W sales, Bajaj narrows gap as Ola Electric slips to third

EntrackrEntrackr · 3m ago
TVS leads May EV 2W sales, Bajaj narrows gap as Ola Electric slips to third
Medial

In May 2025, the electric two-wheeler (E2W) segment achieved retail sales of 100,266 units, the second-highest monthly figure of the year. TVS Motor led the market with 24,560 units sold, a 107% year-on-year (YoY) growth, securing a 24% market share. Bajaj Auto followed closely with 21,770 units, a 135% YoY growth, holding a 22% market share. Ola Electric experienced a 51% YoY sales decline to 18,499 units but maintained an 18% market share. Ola slipped to third position behind Bajaj. Ather Energy sold 12,840 units, representing a 109% increase, gaining a 13% market share and surpassing Ola Electric in Q4 FY25 revenue with Rs 676 crore compared to Ola's Rs 611 crore. Hero MotoCorp re-entered the EV market with a 191% sales increase to 7,164 units.

Ola Electric, TVS, Bajaj expand e-scooter market share amid overall rise in sales

Economic TimesEconomic Times · 1y ago
Ola Electric, TVS, Bajaj expand e-scooter market share amid overall rise in sales
Medial

In FY24, Ola Electric, TVS Motors, and Bajaj captured larger market shares in the electric scooter market, according to government data. Ola Electric held a 35% share with 3,28,254 registrations, followed by TVS Motors (19%) and Bajaj Auto (12%). The overall non-transport electric two-wheeler market grew by 30% to 9,41,583 registrations. Okinawa and Hero Electric, however, lost market share and face potential legal action for not repaying subsidies. Despite a temporary decline due to reduced subsidies, the market rebounded. Ola Electric extended warranties and introduced plans to set up fast-charging points and expand service centers. Ola Electric's monthly sales reached a record high of 53,184 registrations in March.

Ola Electric registers 23,430 units in March, lagging far behind Bajaj and TVS

EntrackrEntrackr · 5m ago
Ola Electric registers 23,430 units in March, lagging far behind Bajaj and TVS
Medial

Ola Electric registers 23,430 units in March, lagging far behind Bajaj and TVS Two-wheeler electric vehicle manufacturer Ola Electric registered 23,430 units in March 2025, according to data published by the VAHAN portal. However, Ola Electric lagged behind Bajaj Auto and TVS, which sold 34,863 and 30,453 units, respectively, during the same period. With its best-ever monthly sales of 34,863 units in March 2025, Bajaj Auto has topped the e2W industry for consecutive months. In March, Bajaj reported a 26.76% market share, followed by TVS and Ola Electric with 23.3% and 17.9% market share, respectively. However, Ola Electric led in terms of market share for the last fiscal year (FY25), reporting a 30% share, while TVS and Bajaj recorded 21% and 20%, respectively. In a stock exchange filing, Ola Electric reported that the shift to in-house vehicle registrations in February caused temporary disruptions. However, daily registration volumes and backlog clearance are steadily improving as the transition progresses. “We have nearly cleared the February backlog and expect to complete the remaining February–March registrations in April 2025. To support this, we’re scaling up our registration operations and actively coordinating with all external stakeholders,” said Ola Electric. Recently, Ola Electric clarified that the mismatch was due to ongoing negotiations with its vehicle registration vendors. The Bhavish Aggarwal-led company also settled a legal issue involving its subsidiary, Ola Electric Technologies Private Limited, and its vehicle registration service provider, Rosmerta Digital Services Ltd. Among the top five EV two-wheelers, Ather Energy is also catching up quickly, with 15,446 units sold in March, whereas Hero MotoCorp sold 7,977 units during the same period. Greaves, the next major player, sold 5,641 units in the same timeframe.

TVS retains top spot in August 2W EV sales; Ola Electric overtakes Bajaj, Ather rises to third

EntrackrEntrackr · 14h ago
TVS retains top spot in August 2W EV sales; Ola Electric overtakes Bajaj, Ather rises to third
Medial

TVS retains top spot in August 2W EV sales; Ola Electric overtakes Bajaj, Ather rises to third TVS Motor retained its leadership in the electric two-wheeler (E2W) segment in August, securing a 23.09% market share, as overall industry volumes grew 1.4% month-on-month to 1,04,306 registered units. According to Vahan data, TVS registered 24,087 units in August, an 8.38% month-on-month increase over July. Ola Electric jumped to the second position, overtaking Bajaj, with an 18.19% market share after registering 18,972 units in August, up 6.3% from last month. Following this development, its share price surged over 11% today to around Rs 60.2 with a market cap of Rs 26,464.98 crore ($3 billion). Ather Energy moved up to the third position with a 17.12% market share, narrowing the gap with Ola Electric by registering 17,856 units in August, a 10% rise from last month. On a year-on-year basis, it recorded over 60% growth in registrations. Ather, which became the second EV startup after Ola Electric to list on the Indian stock exchange, is currently trading at Rs 475, up over 5% today, with a market capitalization of Rs 17,654.59 crore ($2 billion). Hero MotoCorp climbed one spot to fourth position with a 12.76% market share, registering 13,313 units in August, a strong 26.92% month-on-month growth over July, showing momentum in demand for its electric two-wheelers. Bajaj Auto slipped to fifth position in August from second, posting a sharp 40.3% month-on-month drop with 11,730 units. Its market share fell to 11.25% from 19.10% in July. Greaves Electric Mobility and IPO-bound Pure EV held their sixth and seventh positions in the market, posting month-on-month growth of 7.17% and 5.39%, respectively. BGauss, River Mobility, and Kinetic Green also reported solid month-on-month growth of 7.97%, 9.23%, and 23.51%, respectively.

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