The Indian electric two-wheeler market is witnessing an intense battle for supremacy, with TVS Motor emerging as a consistent frontrunner while facing stiff competition from Ola Electric, Bajaj Auto, and Ather Energy. This dynamic market shift signals a new era in India’s mobility landscape.
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Current Market Leadership Dynamics
TVS Motor maintains its lead in the first two weeks of June with 11,841 units and a 27% share of the electric two-wheeler segment. However, the competition remains fierce, with market leadership frequently changing hands between major players.
The Great EV Two-Wheeler Shake-Up
Recent months have seen dramatic shifts in market positioning. Bajaj Auto recorded 18,295 EV two-wheeler registrations in December, while Ola Electric retained the highest market share of 35.5% for the entire calendar year 2024, showcasing the volatile nature of this rapidly evolving market.
Market Performance Breakdown
| Brand | Recent Performance | Key Strength |
|---|---|---|
| TVS Motor | Leading June 2025 with 27% share | Consistent monthly performance |
| Ola Electric | 35.5% annual share in 2024 | Strong brand recognition |
| Bajaj Auto | Overtook Ola in December | Traditional auto expertise |
| Ather Energy | Steady third position | Premium positioning |
Market Growth Trajectory
The electric two-wheeler segment continues its impressive growth story. Total EV registrations rose 30% YoY to almost touch the 20 Lakh mark in 2024, with electric 2W registrations zooming 33% YoY to 11.4 Lakh, despite challenges from subsidy cuts and changing government policies.
What’s Driving the Competition?
The intense rivalry stems from several factors:
Innovation Race: Each brand is pushing technological boundaries with better battery life, faster charging, and smart connectivity features.
Price Wars: Competitive pricing strategies are making EVs more accessible to middle-class consumers.
Infrastructure Development: Expanding charging networks are boosting consumer confidence in electric mobility.
Future Market Outlook
Between January 1 and June 14, 2025, a total of 543,537 electric scooters, motorcycles and mopeds have been retailed across India, indicating strong momentum continuing into 2025.
The battle for EV two-wheeler supremacy is far from over. While TVS Motor currently holds the lead, the rapidly changing market dynamics suggest that any of these players could emerge victorious. What’s certain is that Indian consumers are the real winners in this high-stakes competition, benefiting from improved products, competitive prices, and accelerated EV adoption.
