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TVS maintains lead in 2W EV sales in July; Ather narrows gap with Ola Electric

EntrackrEntrackr · 25d ago
TVS maintains lead in 2W EV sales in July; Ather narrows gap with Ola Electric
Medial

TVS Motor retained its position as the market leader in the electric two-wheeler (E2W) segment in July, despite a month-on-month decline in overall market volumes. According to Vahan data, TVS registered 22,225 units during the month, securing a 21.6% market share. However, this marked a 12.73% decline from June, when the e-two wheel leader recorded 25,468 unit registrations. Bajaj maintained its second position with a 19.10% market share in July, with sales of 19,650 electric two-wheelers. This reflects a sharp month-on-month decline of 15.16% compared to 23,161 units sold in June. After leading the market in 2023 and 2024, Ola Electric’s dominance continues to wane. Its market share dropped sharply to 17.35% in July 2025 from 38.83% a year ago. The Bhavish Aggarwal-led company recorded 17,848 units during the month, a steep 57.29% year-on-year decline from 41,802 units sold in July 2024. A sharp drop in month-on-month volumes and users' complaints have erased over 45% of Ola Electric’s market cap from Rs 33,521 crore ($3.95 billion) to Rs 18,190.2 crore ($2.14 billion). The stock now trades at around Rs 41.2, down nearly 45% from its listing price of Rs 76. It had touched an all-time high of Rs 157.4 just after listing. Ather Energy retained the fourth position with a market share of 15.78%, registering 16,231 units in July 2025. This reflects a 10.59% month-on-month growth compared to 14,677 units recorded in June. Ather, which became the second EV startup after Ola to be listed on the stock exchange, is currently trading at Rs 353.75, up from Rs 328 at the time of listing. Hero MotoCorp held the fifth position in July with a market share of 10.20%, registering 10,489 units. The company recorded a strong month-on-month growth of 36.27%, indicating growing demand for its electric two-wheelers. Greaves Electric Mobility held the sixth position in July with a 4.08% market share. IPO-bound Pure EV followed in seventh place with a 1.64% share, recording an 18.12% month-on-month growth. River Mobility and Kinetic Green also posted strong month-on-month growth of 20.4% and 59.92%, respectively. Notably, Kinetic Green broke into the top 10 electric two-wheeler makers in July.

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Ola Electric back on top with 25% EV 2W market share in January

EntrackrEntrackr · 6m ago
Ola Electric back on top with 25% EV 2W market share in January
Medial

Ola Electric has reclaimed its leading position in the electric two-wheeler (EV 2W) segment, capturing a 24.91% market share in January. According to Vahan data, the company sold 24,330 units during the month. TVS Motors took the second spot, selling 23,788 units, just slightly behind Ola. Bajaj Auto, another prominent player in the Indian automobile sector, secured a 21.80% market share with 21,294 units sold in January. This marks a significant turnaround for Ola Electric, as both Bajaj and TVS Motor had surpassed the company by a considerable margin in December. Ola attributes its strong performance to its robust S1 portfolio and the recent expansion of its sales and service network, which now spans 4,000 stores nationwide. An Ola Electric spokesperson commented, “It has been an impressive start to the year for us as we emerged as a clear leader in the EV 2W industry yet again. While we are committed to further cementing our position in the segment, our recently launched Gen-3 portfolio has set new benchmarks in performance and reliability across the 2W industry in India. With our diverse EV propositions across premium and mass-market segments and expansion of our sales network beyond tier-1 and tier-2 cities, Ola Electric will continue to lead India’s transition towards #EndICEAge.” Ather Energy, a Bengaluru-based startup, recorded sales of 12,895 units, capturing a 13.20% market share. The company, led by Tarun Mehta, is also nearing its initial public offering (IPO) after receiving approval from the Securities and Exchange Board of India (SEBI). Beyond the top four players, companies like Greaves Electric Mobility (3,611 units) and PURE EV (1,650 units) were making efforts to carve out their niche in the competitive market. Hero Motocorp, despite its stronghold in the petrol two-wheeler segment, continued to face challenges in the EV space, selling only 1,615 units. Bgauss Auto (1,451 units) and Revolt Intellicorp (1,060 units) maintained their dedicated customer bases, while Kinetic Green Energy trailed with just 806 units sold.

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

EntrackrEntrackr · 2m 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 sells 25,000 units in Feb, expands market lead with 28% share

EntrackrEntrackr · 6m ago
Ola Electric sells 25,000 units in Feb, expands market lead with 28% share
Medial

Ola Electric sells 25,000 units in Feb, expands market lead with 28% share EV manufacturer Ola Electric on Friday said that it has sold over 25,000 units in February 2025, maintaining its 28% market share in the electric two-wheeler (2W) segment. In January, Ola Electric reclaimed its top spot in the electric two-wheeler segment with a 24.91% market share. The Bhavish Aggarwal-led company made a comeback after Bajaj and TVS Motor overtook it in December. “With our strong scooter portfolio and 4,000-store network, we are seeing growing demand from Tier 3 and 4 towns. With Roadster X deliveries set to begin next month, we aim to accelerate EV adoption further,” said a company spokesperson in a stock exchange filing. As per the latest VAHAN data (12 PM, Friday), Bajaj has sold 20,006 units, followed by TVS with 17,603, Ather Energy with 11,129, and Greaves Electric Mobility with 3,492 units. The data currently shows 8,390 units for Ola Electric, which is expected to be updated by the end of the day. In a strategic decision, Ola Electric recently renegotiated its contracts with vehicle registration agencies. The company stated that this may temporarily affect VAHAN portal numbers, but the move is aimed at reducing costs and optimizing the registration process. Ola’s Futurefactory and EV hub in Tamil Nadu played a key role in its growth, along with its Battery Innovation Centre (BIC) in Bengaluru. With over 750 company-owned stores, Ola Electric claims that it has the largest EV retail network in India.

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