TVS Leads Electric Two-Wheeler Market for Second Week in January 2025, Ola Climbs to Third
The electric two-wheeler (e2W) market in India is off to a roaring start in 2025, with TVS Motor Company maintaining its position as the No. 1 e2W OEM for the second consecutive week in January. Meanwhile, Ola Electric has made a strong comeback, climbing to the No. 3 spot, overtaking Ather Energy.
With a total of 36,234 electric two-wheelers sold in the first two weeks of January, the competition among the top players—TVS, Bajaj Auto, Ola Electric, and Ather Energy—has been fierce. These four manufacturers alone account for a staggering 84% of the market share, setting the stage for an exciting year in the e2W segment.
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TVS iQube: The Undisputed Leader
TVS Motor Company has solidified its dominance in the e2W market with its flagship electric scooter, the TVS iQube. In the second week of January (January 8-14), the iQube recorded 9,804 retail sales, a significant increase of 3,660 units compared to Week 1.
Key Highlights
- Market Share: 27% of total e2W sales in January so far.
- Total Sales (January 1-14): 9,804 units.
- CY2024 Performance: Ranked No. 2 with 220,577 units sold, capturing a 19% market share.
The iQube’s consistent performance is a testament to its growing popularity among Indian consumers, thanks to its reliability, range, and competitive pricing.
Bajaj Chetak: Holding Strong at No. 2
Bajaj Auto, which ended 2024 as the No. 1 e2W OEM in December, has retained its second position in January 2025. The Bajaj Chetak, with its premium build quality and enhanced range, continues to attract buyers.
Key Highlights
- Market Share: 24% of total e2W sales in January so far.
- Total Sales (January 1-14): 8,694 units.
- CY2024 Performance: Ranked No. 3 with 193,494 units sold, capturing a 17% market share.
The recent launch of the new Chetak with a 153 km range has further boosted its appeal, helping Bajaj maintain its momentum in the competitive e2W market.
Ola Electric: A Strong Comeback
After a slow start in Week 1, Ola Electric has climbed to the No. 3 position in Week 2, overtaking Ather Energy. With 6,655 retail sales in the first two weeks of January, Ola has increased its market share to 18%, up from 15% in Week 1.
Key Highlights
- Total Sales (January 1-14): 6,655 units.
- CY2024 Performance: Ranked No. 1 with 400,000+ units sold, capturing a 35% market share.
- New Launches:
- Ola S1 Z: Priced at ₹59,999.
- Ola S1 Z+: Priced at ₹64,999.
- Ola Gig: A budget-friendly e-scooter for the gig economy, priced at ₹39,999.
With deliveries of the S1 Z, S1 Z+, and Gig expected to begin in April-May 2025, Ola is poised for a strong year ahead.
Ather Energy: Slips to No. 4
Despite launching the award-winning Rizta e-scooter, Ather Energy has dropped to the No. 4 position in Week 2 of January. The company sold 5,360 units in the first two weeks, maintaining a 15% market share.
Key Highlights
- Total Sales (January 1-14): 5,360 units.
- CY2024 Performance: Ranked No. 4 with 126,218 units sold, capturing an 11% market share.
- Rizta e-Scooter:
- Variants:
- S Version: 123 km range (2.9 kWh battery).
- Z Version: 160 km range (3.7 kWh battery).
- Features: Largest two-wheeler seat in India, ample storage space.
- Variants:
While Ather’s sales have grown steadily, the competition from TVS, Bajaj, and Ola has pushed it down the rankings.
Other Players in the Market
While the top four OEMs dominate the market, other manufacturers are also making their presence felt:
- Greaves Electric Mobility:
- Rank: No. 5.
- Sales (January 1-14): 1,470 units.
- Market Share: 4%.
- Bgauss Auto:
- Rank: No. 6.
- Sales (January 1-14): 572 units.
- Revolt Motors:
- Rank: No. 7.
- Sales (January 1-14): 470 units.
- Hero MotoCorp (Vida):
- Rank: No. 8.
- Sales (January 1-14): 467 units.
- Pur Energy:
- Rank: No. 9.
- Sales (January 1-14): 384 units.
- Kinetic Green:
- Rank: No. 10.
- Sales (January 1-14): 333 units.
What’s Next for the e2W Market?
With two weeks left in January, the competition is expected to heat up further. TVS and Bajaj are likely to continue their strong performance, while Ola’s new product lineup could help it climb higher in the rankings.
Additionally, Honda Motorcycle & Scooter India is set to enter the e2W market with the launch of the Activa e: and QC1 at the Bharat Mobility Global Expo. This could shake up the market dynamics in the coming months.
A Thrilling Start to 2025
The first two weeks of January 2025 have set the tone for an exciting year in the electric two-wheeler market. With TVS leading the pack, Bajaj holding strong, and Ola making a comeback, the competition is fiercer than ever.
As the market continues to grow, driven by innovation and increasing consumer demand for sustainable mobility, the e2W segment is poised for record-breaking growth in 2025. Stay tuned for more updates as we track the latest developments in this fast-evolving industry.
