India’s Electric Two-Wheeler Market Growth
India’s electric two-wheeler market has demonstrated remarkable growth in October, with registrations rising to 223,847 units, up from 208,705 units in September. TVS Motor has maintained its leading position, whereas Ather Energy experienced slight growth, and Ola Electric faced a drop in registrations.
According to the latest Vahan data, TVS Motor topped the market with 60,429 registrations in October, representing a 27% market share. The company saw an 11.08% increase in registrations month-on-month, compared to 54,403 units in September, solidifying its lead over competitors.
Market Standings of Electric Two-Wheeler Manufacturers
Bajaj Auto secured the second place with 49,067 registrations and a 21.92% market share. Its growth remained minimal, with an increase of just 0.67% from 48,742 units in the previous month.
Ather Energy came in third, achieving 31,796 registrations and capturing a 14.2% market share. This marked a 2.75% rise in registrations compared to the preceding month. The company also reported profitability in Q2 FY27, with its revenue surging 63% year-on-year to INR 1,464 crore.
Hero MotoCorp’s Continued Success
Following a 27% growth in September, Hero MotoCorp maintained its positive trend in October, with registrations rising by 22.34% month-on-month to 29,901 units, which increased from 24,440 units. The firm claimed a 13.36% share of the electric two-wheeler market for the month.
Ola Electric stood in fifth place with 12,096 registrations and a 5.4% market share. Notably, it was the only one among the top five companies to report a decline in monthly registrations, which fell by 10.12% from 13,458 units in September.
Other Manufacturers Making an Impact
Greaves Electric Mobility reported 10,838 registrations, showcasing a 16.3% month-on-month growth from 9,319 units in September. River Mobility also exhibited strong performance, with registrations growing by 20.3% to 6,796 units compared to 5,649 units in September.
BGauss reached 5,554 registrations, marking a 10.55% month-on-month increase, while E-Sprinto Green Energy registered a 6.36% growth, bringing its total to 2,124 units.
New Entrants in the Market
Motovolt Mobility entered the list of top 10 electric two-wheeler manufacturers in October, with a remarkable 168% increase in registrations to 1,702 units, up from 635 units in September. Conversely, Bounce exited the top 10 after its registrations plummeted by 65%, declining to 1,075 units from 3,069 units in the previous month.