TVS Motor leads electric two-wheeler market in February with 29% share; Ola slips to seventh position

EV Two wheeler

• TVS Motor led India's electric two-wheeler market in Feb 2026
• Ola Electric fell to seventh place with 3.7% market share
• Bajaj and Ather followed TVS, strengthening legacy makers' hold

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TVS Motor retained its leadership in India’s electric two-wheeler market in February 2026, while Ola Electric slipped to the seventh position, highlighting shifting competitive dynamics as legacy manufacturers strengthened their hold on the segment.

According to registration data from the government’s Vahan portal, total electric two-wheeler registrations stood at 101,059 units during the month. TVS Motor led the market with 29,231 units, capturing a 28.9 percent market share. Demand for its iQube electric scooter remained steady, helping the company maintain a clear lead over competitors.

Bajaj Auto ranked second with 22,942 registrations, accounting for a 22.7 percent market share, supported by continued demand for its Chetak electric scooter. Ather Energy followed in third place with 18,726 units and an 18.5 percent share, driven by stable volumes from its 450 series electric scooters.

Hero MotoCorp’s electric mobility brand Vida secured the fourth position with 11,356 registrations and an 11.2 percent market share, reflecting gradual scale-up in its electric vehicle operations.

Among other players, Ampere registered 4,203 units with a 4.2 percent share. Ola Electric recorded 3,783 units, placing it seventh in the market with a 3.7 percent share, behind rivals including TVS, Bajaj, Ather, and Vida. River and BGauss reported 2,018 and 1,849 units respectively, while E-Sprinto and Simple Energy accounted for smaller volumes.

Ola Electric’s drop to seventh position marks a sharp shift from its earlier dominance in the segment.

The company was among the top electric two-wheeler manufacturers through 2023 and early 2024, at times leading monthly registrations, but its market share has since declined as legacy manufacturers such as TVS Motor, Bajaj Auto, and Hero MotoCorp expanded their electric portfolios and distribution.

Meanwhile, smaller manufacturers grouped under the “Others” category together accounted for 5,521 units, or 5.5 percent of total registrations.