The Indian electric two-wheeler landscape witnessed a dramatic shift in June 2025, with TVS Motor Company extending its lead by registering 25,274 units, marking an 80% year-on-year increase. This remarkable performance solidifies TVS’s position as the undisputed market leader for three consecutive months.
The transformation of India’s electric mobility sector tells a compelling story of established automotive giants reclaiming territory from startup pioneers. As traditional manufacturers leverage their decades of expertise, distribution networks, and manufacturing capabilities, the market dynamics are experiencing a seismic shift.
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Market Share Battle: Legacy Players vs Electric Startups
TVS Motor: The New Market Champion
TVS Motor Company now holds a 24% market share and maintained its top position for the third consecutive month. This achievement represents more than just numbers – it showcases how traditional two-wheeler manufacturers are successfully transitioning to electric mobility.
The Chennai-based manufacturer’s success stems from:
- Strong dealer network across India
- Proven after-sales service infrastructure
- Competitive pricing strategy
- Quality assurance backed by decades of experience
Bajaj Auto: The Rising Challenger
Bajaj Auto recorded 23,004 units in June, reflecting a 154% year-on-year increase, now holding a 22% share of the E2W market. This phenomenal growth rate positions Bajaj as a formidable competitor in the electric space.
Bajaj’s electric strategy focuses on:
- Leveraging its Chetak brand heritage
- Expanding manufacturing capacity
- Strengthening urban market presence
- Building charging infrastructure partnerships
Ola Electric: The Fallen Pioneer
Once the undisputed leader, Ola Electric sold 20,189 units in June, a 45% drop compared to the same month last year, with market share decreasing from 46% in June 2024 to 19% in June 2025.
Several factors contributed to Ola’s decline:
- Service quality concerns affecting customer satisfaction
- Intense competition from established players
- Hyundai Motor and Kia Corporation exited Ola Electric by selling their entire stake for Rs 690 crore
- Stock performance challenges with shares trading 43% below listing price
June 2025 Electric Two Wheeler Sales Performance
RankCompanyUnits SoldMarket ShareYoY Growth1TVS Motor25,27424%+80%2Bajaj Auto23,00422%+154%3Ola Electric20,18919%-45%4Ather Energy14,51214%+133%5Hero MotoCorp7,6647%+149%
The Rise of Traditional Manufacturers
Ather Energy remained in fourth place with 14,512 units sold in June, a 133% year-on-year increase, while Hero MotoCorp ranked fifth with 7,664 units sold, representing a 149% year-on-year increase.
This trend indicates that established vehicle manufacturers now hold a greater share, moving ahead of earlier startup-led growth. The shift represents a maturation of the electric two-wheeler market, where reliability, service network, and brand trust become crucial differentiators.
Market Analysis: What’s Driving the Change?
Consumer Preferences Evolution
Indian consumers are increasingly prioritizing:
- Reliability over novelty: Proven track records matter more than flashy features
- Service accessibility: Widespread service networks reduce ownership anxiety
- Value for money: Competitive pricing with quality assurance
- Brand trust: Established manufacturers inspire greater confidence
Infrastructure and Support Systems
Traditional manufacturers offer advantages in:
- Extensive dealer networks across tier-2 and tier-3 cities
- Established supply chain management
- Proven customer service protocols
- Financial partnerships for easy financing options
Future Outlook: Electric Two Wheeler Market Trends
Growth Projections
Four OEMs – Ola Electric, TVS Motor Co, Bajaj Auto and Ather Energy – have registered six-figure sales with their combined sales of 943,336 units making up 82 percent of e2W sales.
The market shows strong fundamentals:
- Government policy support through subsidies
- Increasing fuel costs driving adoption
- Environmental consciousness among consumers
- Technological improvements in battery technology
Competitive Landscape Predictions
Based on current trends, we can expect:
- Continued market share gains by TVS and Bajaj
- Potential consolidation among smaller players
- Innovation focus on battery technology and charging solutions
- Expansion into rural markets by established players
Investment and Stock Market Impact
The electric two-wheeler sector’s evolution significantly impacts investor sentiment:
- TVS Motor: Benefits from diversified portfolio and EV leadership
- Bajaj Auto: Stock performance reflects EV market success
- Ola Electric: Shares currently trading at Rs 43, down 43% from listing price of Rs 76
- Ather Energy: Recent listing shows investor confidence in specialized EV players
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