Market Leaders and Volume Breakdown
India recorded 1.27 million electric two-wheeler registrations throughout 2025. TVS Motor captured market leadership with highest volumes. Bajaj Auto secured second position through Chetak portfolio strength. Ola Electric maintained third despite November dip. Ather Energy followed closely in fourth place.
Growth Trends and Competitive Shifts
Registrations grew over 10% from previous year despite rare earth magnet shortages. Legacy manufacturers TVS and Bajaj overtook newer entrants in cumulative rankings. November saw 116,849 units with TVS holding 26% share. Hero’s Vida brand surged to fourth monthly. Production constraints impacted overall industry volumes.
Strategic Implications for Players
TVS reinforced dominance through consistent monthly leadership. Bajaj expanded Chetak appeal across urban segments. Ola narrowed gap with Ather but faces volume pressure. Market consolidation favors established supply chains. Strong Tier-2/rural penetration drives national adoption.
