TVS Motor Leads Electric Two-Wheeler Market in August

TVS Motor has established its dominance in the electric two-wheeler segment for August, capturing a market share of 23.09%. The overall industry saw a month-on-month growth of 1.4%, reaching 104,306 registered units. According to Vahan data, TVS recorded 24,087 units for August, reflecting an increase of 8.38% over July.

Ola Electric Rises to Second Place

Ola Electric ascended to the second position, overtaking Bajaj, with an 18.19% market share after registering 18,972 units in August, up by 6.3% from the previous month. Following this achievement, the company’s share price surged over 11% today, hovering around Rs 60.2, with a market capitalisation of Rs 26,464.98 crore ($3 billion).

Ather Energy Climbs to Third

Ather Energy moved into third place, holding a market share of 17.12% by registering 17,856 units in August, marking a growth of 10% from last month. Compared to last year, Ather recorded an impressive growth of over 60% in registrations. The company recently became the second EV startup, following Ola Electric, to list on the Indian stock exchange and is currently trading at Rs 475, up by more than 5% today, with a market capitalisation of Rs 17,654.59 crore ($2 billion).

Hero MotoCorp Shows Strong Demand

Hero MotoCorp climbed one position to fourth place, achieving a market share of 12.76% after registering 13,313 units in August. This represents a robust growth of 26.92% month-on-month from July, highlighting the strong demand for its electric two-wheelers.

Bajaj Auto Faces Sharp Decline

Bajaj Auto slipped from second to fifth position in August, experiencing a significant month-on-month decline of 40.3%, with 11,730 units sold. Its market share dropped sharply to 11.25% from 19.10% in July.

Other Companies’ Performance

Greaves Electric Mobility and IPO-bound Pure EV maintained their positions in sixth and seventh place, respectively, reflecting month-on-month growth of 7.17% and 5.39%. Additionally, BGauss, River Mobility, and Kinetic Green reported solid month-on-month increases of 7.97%, 9.23%, and 23.51%, respectively.