TVS Motor Leads India’s Electric Two-Wheeler Market in April 2025

TVS Motor has taken the top position in India’s electric two-wheeler market for April 2025, surpassing Bajaj Auto and Ola Electric, which were previously the market leaders. In April, TVS sold 19,736 units, reflecting a substantial 154% year-over-year increase and capturing a 22% market share, as per Vahan data.

Market Performance Overview

In comparison, Ola Electric managed to sell 19,709 units, marking a 42% decline from the previous year, resulting in a 21% market share. Bajaj Auto experienced a commendable 151% growth year-over-year, selling 19,001 units and securing a 21% share of the market.

Ather Energy’s Progress

Ather Energy reported a 31% rise in sales, with 13,167 units sold, translating to a 14% market share. In an impressive show of growth, Hero MotoCorp achieved a remarkable 540% increase year-over-year, selling 6,123 units and holding a 7% market share.

Challenges for Ola Electric

Although Ola Electric has improved its market share month-on-month, the drop in sales has been attributed to heightened competition and strategic changes. The company, helmed by Bhavish Aggarwal, has also faced considerable regulatory challenges, including potential showroom shutdowns due to infractions related to trade certificates and vehicle registrations in various states, such as Maharashtra. However, it was stated that there has been no official notice concerning the closure of more than 100 showrooms in Maharashtra.

Traditional Players’ Success

In contrast, established players like TVS, Bajaj, and Ather have successfully capitalised on the increasing demand for electric two-wheelers, with TVS recording its highest-ever sales in April and leading the market for the first time. The strong performance by Bajaj Auto was driven by excellent sales of its Chetak e-scooter, which emerged at the top of e-scooter sales in the fourth quarter of FY25.

Upcoming Competition for Ola Electric

Ola Electric will need to navigate increased competition from Ather Energy in the public market, as Ather has recently closed its subscription window and is now set to be listed on the stock exchange.