India’s electric two-wheeler registrations cross 1.27 million units in 2025; TVS Motor leads the market

EV Two wheeler

• TVS Motor led India's 2025 electric two-wheeler market with a 23.5% share.
• 2025 industry registrations reach 1.27M units, up from 1.14M in 2024
• 2026 to see fierce competition with price hikes and new model launches

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TVS Motor emerged as the largest electric two-wheeler manufacturer in India in 2025, as total industry registrations crossed 1.27 million units during the year, underscoring the segment’s continued scale-up amid intensifying competition.

In 2024, electric two-wheeler registrations in India crossed the 1 million mark for the first time in a calendar year, reaching approximately 1.14 million units.

According to the year-end registration data sourced from Vahan portal, the industry recorded 1,275,516 electric two-wheeler registrations in calendar year 2025. TVS Motor led the market with 240,27 units in January alone and consistently strong monthly volumes, helping it close the year with a 23.5 percent market share.

Demand for TVS' iQube range remained steady through the year, particularly during the festive period.

Bajaj Auto retained the second position with a 24.9 percent market share, driven by stable registrations from the Chetak portfolio across most months of the year. Bajaj’s volumes remained resilient even as price sensitivity increased in the mass commuter segment.

Ather Energy strengthened its position as the third-largest player, ending the year with a 14.2 percent market share. The company’s performance was supported by its core 450 series and the ramp-up of Rizta, its family-oriented electric scooter, which helped broaden its appeal beyond urban early adopters.

Ola Electric, once the segment’s dominant player, closed 2025 with an 18.8 percent market share, reflecting sharper month-on-month volatility in registrations as competition intensified.

Hero MotoCorp’s Vida remained a smaller but growing presence, accounting for 1.4 percent of registrations, while Ampere posted a 10.1 percent share, maintaining its strength in value-focused electric scooters.

Smaller players such as BGauss, River and Pure EV together continued to contribute modest volumes, while the long tail of other manufacturers accounted for nearly 7 percent of total registrations.

Industry executives expect competition to tighten further in 2026 as OEMs prepare selective price hikes amid higher battery and component costs, while also expanding portfolios with refreshed models and new launches across commuter and family segments.

As the market matures, scale, service reach and pricing discipline are emerging as key differentiators in India’s fast-evolving electric two-wheeler landscape.