With 91,791 electric scooters, bikes and mopeds sold and stellar 40% YoY growth, April 2025 registers best-ever retail sales for the first month of a fiscal, beating the previous best of 66,878 units in April 2023. TVS Motor Co tops monthly sales for the very first time with 19,736 units, pipping Ola Electric and Bajaj Auto which also sold over 19,000 units last month.
01 May 2025 | 3923 Views | By Ajit Dalvi
After wrapping up FY2025 with record sales of 1.14 million units, 21% YoY growth and a 58% share of India EV Inc’s retail sales, electric two-wheeler manufacturers in India have registered robust retail sales of 91,791 units in April 2025, up 40% YoY (April 2024: 65,555 units). This makes ...
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After wrapping up FY2025 with record sales of 1.14 million units, 21% YoY growth and a 58% share of India EV Inc’s retail sales, electric two-wheeler manufacturers in India have registered robust retail sales of 91,791 units in April 2025, up 40% YoY (April 2024: 65,555 units). This makes April 2025 the best April yet for electric two-wheelers, ahead of April 2023 (66,878 units) and April 2024 (65,555 units). This is as per the latest retail sales data available on the Vahan portal (7am – May 1, 2025).
Strong as they are, last month’s sales nevertheless are down 30% on the FY2025-ending month of March 2025 (131,163 units) albeit the difference is that April is the opening month of a fiscal and March the last, and usually pulls in more sales.
In the past, April sales have been somewhat tepid, followed by slow sales momentum in the monsoon months and then strong sales in the festive season around September-October. FY2026 now has opened on a very strong note for the Indian E2W industry and give it a good foundation to build on for another fiscal of strong sales.
What will also help the industry is Maharashtra’s bold and dynamic new Electric Vehicle Policy 2025, which has given a host of benefits to the EV industry and aims for further accelerate sales in the state. In FY2025, Maharashtra had the bragging rights for being No. 1 state in India for retail sales of electric two-wheelers, electric cars and SUVs, and also e-CVs. It was ranked second overall, after Uttar Pradesh, on the all-India EV ownership scale with 246,221 units and a 12.52% share of India EV sales in FY2025. Of the 11,49,641 e-two-wheelers sold in FY2025, Maharashtra with 211,880 units, up 15%, had the largest share of 18 percent.
Of the total 91,791 e-2Ws sold in April 2025, the Top 10 e-2W manufacturers together accounted for 86,587 units or an overwhelming 93%, while and the Top 4 – each with five-figure sales – 71,613 units or 78 percent. Let’s take a closer look at each of the top six players in detail and how they fared in April.
TVS MOTOR CO
April 2025: 19,736 units, up 154% YoY / Market share: 22%
April 2024: 7,762 units / Market share: 12%
TVS Motor Co, the longstanding No. 2 e-two-wheeler OEM, has finally topped the charts. The Chennai-based major came very close to being No. 1 in January 2025 but was pipped to the post by Ola. Now with 19,736 units, it is topped monthly sales for the very first time and narrowly beat Ola Electric (19,709 units) by a small margin of 27 units.
As per Vahan registration data, TVS sold 1,534 units on April 30 which was the festive day of Akshaya Tritiya which typically sees a high level of new vehicle buying. This is the highest single-sales day of the top four OEMs on Akshaya Tritiya.
TVS Motor Co has maintained the same growth trajectory in April that it displayed in FY2025, when it sold 237,576 iQubes and surpassed the 200,000 milestone for the first time. Compared to April 2024, when it sold 7,762 units, April 2025 with 19,709 iQubes has delivered handsome 154% YoY growth. Year on year, the iQube’s market share has jumped to 22% from 12%, reflective of the demand this TVS EV commands in the domestic market.
TVS is upping the ante in scooters, a segment wherein it achieved best-ever fiscal sales in FY2025 with a record 1.81 million scooters and 25% YoY growth and to which the zero-emission iQube was a key contributor.
Speaking in a recent conference call after the company’s Q4 FY2025 results, K N Radhakrishnan, director and CEO of TVS Motor Co, said that a number of new EVs are in the final developmental stage and are slated to be launched in the coming quarters.
TVS, which has ample manufacturing capacity on hand, is strategically expanding the iQube dealer network. Currently estimated at around 950 touchpoints across India, TVS is aggressively increasing its EV network each month.
OLA ELECTRIC
April 2025: 19,709 units, down 42% YoY / Market share: 21%
April 2024: 34,163 units / Market share: 52%
Ola Electric, which had taken an early lead in the month with 4,294 units, has narrowly missed out on being No. 1 in April 2025 with sale of 19,709 units, just a few units less than TVS. Ola had last topped the monthly sales chart in January 2025 but had lost that spot to Bajaj Auto in February and March 2025. What would have helped Ola’s numbers was the ‘72-Hour Electric Rush’ special Akshaya Tritiya festive offer from April 28-30 offering discounts of up to Rs 40,000 on its S1 scooters and a free extended warranty on all Gen 2 and Gen 3 models.
This is Ola’s third highest monthly performance this year after January (24,399 units) and March (23,553 units). In February 2025, Ola had hit a low of 8,661 units. April 2025’s sales give Ola a market share of 21%, considerably down on its year-ago share of 52% (April 2024: 34,163 units).
Over the past year, Ola has commenced deliveries of its S1 Gen 3 e-scooters across the country as also diversified into manufacture and sale of electric motorcycles. Ola was the No. 1 e-2W OEM in FY2025 with sale of 344,009 units, up 4% YoY, and a market share of 30% compared to 35% in FY2024 and was ahead of both TVS and Bajaj Auto by a huge margin.
April 2025: 19,001 units, up 151% YoY. Market share: 21%
April 2024: 7,561 units. Market share: 11%
Bajaj Auto, which topped the e-2W chart in February (21,563 units) and March (35,160 units) is down to No. 3 position in April 2025 with its lowest sales in three months. This could be because e-2W buyers were likely aware that the company was about to roll out the most affordable Chetak in the new 35 series.
The 19,001 Chetaks sold in April 2025, nevertheless, are up 151% on year-ago sales of 7,561 units and give Bajaj a current market share of 21%, nearly doubling its April 2024 market share of 11 percent.
As per Vahan registration data, Bajaj Auto sold 1,258 Chetaks on April 30 (Akshaya Tritiya). While variant-wise stats are not available, expect a good number of these sales to comprise the new Chetak 3503.
End-April saw the company launch the new Chetak 3503 at Rs 110,000. The newest Chetak has a claimed range of 155km, 63kph top speed and a slower charging time than its 35 Series siblings. The 3503 joins its siblings, the 3501 and 3502, which were launched in December 2024 and have since given a new charge to Chetak sales.
In FY2025, Bajaj Auto sold a record 230,808 Chetaks, up 116% (FY2024: 106,624 units) and selling an additional 124,184 units to surpass the 200,000 milestone for the first time in a fiscal year. This stellar performance saw its e2W market share nearly double to 20% from 11% in FY2024.
April 2025: 13,167 units, up 31% YoY. Market share: 14%
April 2024: 4,144 units. Market share: 6%
Ather Energy, which is the latest EV start-up in India to get listed on the bourses, sold 13,167 units in April, up 31% YoY (FY2024: 4,144 units) which gives it a monthly market share of 14% versus 6% in April 2024.
Ather’s main growth driver is the Rizta family e-scooter launched a year ago. While the S version (2.9 kWh battery) has a 123km range, the Z variant (3.7 kWh) has a 160km range. The Rizta’s highlights include the largest two-wheeler seat in India and storage space aplenty. The Ather Rizta was the winner of Autocar India’s Electric Two-Wheeler of the Year 2025 award.
Like Ola, TVS and Bajaj, Ather Energy also achieved record sales in FY2025: 130,945 units, up 20% YoY. This gave Ather a market share of 11.39% compared to 11.50% in FY2024 when it had sold 109,161 units.
HERO MOTOCORP
April 2025: 6,123 units, up 540% YoY. Market share: 7%
April 2024: 956 units. Market share: 1.4%
Hero MotoCorp has sold 6,123 Vida 1 and Vida 2 e-scooters in April 2025, up 540% YoY on a low year-ago base of 956 units. This performance sees its e-2W share rise to 7% from 1.4% a year ago. The company is benefiting from expansion of its EV portfolio with the launch of the new Vida V2 in December 2024.
The Vida 2 is essentially an evolution of the V1 range that the world’s largest ICE two-wheeler OEM began its electric mobility journey in October 2022. The Vida V2 is available in three variants: Lite (Rs 96,000), Plus (Rs 115,000) and Pro (Rs 135,000). The most affordable of the lot, the V2 Lite comes with a small 2.2kWh battery pack that has a claimed 94km IDC range.
Hero MotoCorp has started scaling up its brand presence for Vida and its network now stands at 203 touchpoints comprising 180 dealers across 116 cities. And it already has around 2,500 charging stations in collaboration with Ather Energy, in which Hero MotoCorp has been an early investor.
In FY2025, Hero MotoCorp sold 48,673 units, which constitutes 175% YoY growth (FY2024: 17,720 units).
GREAVES ELECTRIC MOBILITY
April 2025: 4,000 units, up 59% YoY. Market share: 4%
April 2024: 2,512 units. Market share: 4%
Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton, has registered sale of 4,000 e-scooters in April 2025, as per Vahan data. This sees the company maintain the same market share it had a year ago: 4 percent.
The company has a six-model portfolio of e-scooters comprising the Nexus (pictured above), Primus, Magnus LT/EX (100km+ range), Ampere Magnus Special, entry level Rio Li/La Plus and Zeal EX.
GEM’s FY2025 retails of 40,161 units were up 28% on its FY2024 sales of 31,276 units and give it a market share of 3.49%, marginally improving upon its 3.29% share of FY2024.
The Ampere Nexus, GEM’s e-scooter launched a year ago in April 2024, is a key growth driver. Targeted at families, the Ampere Nexus has been designed and developed in-house at the Ranipet facility in Tamil Nadu. Equipped with a 3 kWH LFP battery, the Nexus has a claimed top speed of 93kph and a certified range of 136km. Sold in two variants, prices start at Rs 110,000 (ex-showroom) and go up to Rs 120,000.
Pur Energy, which was the No. 10 e-2W OEM in FY2025 with early 9,000 units, is ranked No. 7 in April 2025 with 1,449 units. Like Pur, Pune-based e-scooter maker Bgauss Auto is also now a regular in the Top 10 chart and sold 1,311 units last month. Kinetic Green, with its clutch of e-scooter as well as the e-Luna, takes ninth position with 1,306 units, and is followed by River Mobility (785 units).