TVS maintains e-2W lead over Bajaj Auto, Ola and Ather in first two weeks of June

TVS Motor Co is maintaining the same growth trajectory that helped it top electric two-wheeler retail sales in April, when it became No. 1 for the first time, and May 2025. In the first two weeks of June, the manufacturer of the iQube has sold 11,841 units, which gives it a lead of 1,695 units over the No. 2 product, Bajaj Chetak. Between June 1 and 14, as per the latest stats on the Vahan website (June 15, 7am), a total of 43,917 electric two-wheelers have been sold across India (other than Telangana for which data is not provided). This gives TVS a current market share of 27 percent, with another 16 days left in June.

Legacy OEMs TVS, Bajaj Auto, Hero MotoCorp, Greaves Electric Mobility continue to hold sway over their startup cousins. 

What would have given iQube sales a boost is TVS Motor Co slashing prices by up to Rs 26,000 and also increased the battery capacities of some variants. The battery capacity of the base variant of the iQube, iQube S and iQube ST has been increased by 0.1 kWh and now has a claimed riding range of 145km per charge. The iQube S and iQube ST come with a fast 950W charger, which means a 0-80% top-up takes just three hours. While the S variant (Rs 140,000) receives a 0.1 kWh bump up to 3.5 kWh, the lower version of the higher-spec ST iQube also gets the same 3.5 kWh battery pack upgrade. The higher ST variant now houses a 5.3 kWh battery, up 0.2kWh, and is priced at Rs 159,000 (ex-showroom). Design upgrades include beige-coloured inner panels, dual-tone seat, and a pillion back-rest. The enhanced features list now includes a touchscreen display, turn-by-turn navigation and tyre pressure monitoring.

Bajaj Auto, the No. 3 OEM in April and No. 2 in May, is currently ranked second with 10,146 Chetaks and a 23% share in the first two weeks of June. Around end-April, the company launched 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 but not enough to go past TVS.

Ola Electric remains in third position at this stage of this month with 6,908 units, which gives it a 16% share of this June to date. Ola has commenced deliveries of its S1 Gen 3 e-scooter portfolio, whose pricing starts at Rs 79,999 for the S1 X (2kWh) and goes up to Rs 169,999 for the S1 Pro+ (5.3kWh). The company has recently entered the electric motorcycle segment with its Roadster X series. The Roadster X series’ pricing starts at Rs 74,999 for the Roadster X, Rs 104,999 for the Roadster X+ (4.5kWh), and Rs 1,54,999 for the Roadster X+ (9.1kWh) which has a claimed range of 501km on a single charge.

The bulk of Ola’s sales come from the 14-variant S1 e-scooter, which straddles multiple price-points starting from entry level mass mobility through to premium (Rs 65,000 to Rs 170,000). The S1 Pro, equipped with a 4kWh battery, has a claimed 142km range on a single charge and has an ex-showroom price of Rs 154,999.

Ather Energy continues to be ranked fourth. With 5,987 units, sales between June 1-14 give it a market share rise of 14 percent. Ather’s main growth driver is the Rizta family e-scooter launched a year ago – cumulative Rizta wholesales have surpassed 100,000 units last month, just 11 months after deliveries began in July 2024. This is creditable given that the three-variant flagship scooter is a premium product priced from Rs 104,999 (Rizta S) to Rs 122,000 (Rizta Z 2.9) and to Rs 142,000 (Rizta Z 3.7).

Hero MotoCorp, which currently sells the Vida V2 – V2 Pro, V2 Plus and V2 Lite – has clocked retails of 3,057 units in June 1-14. Each of these three variants come with different battery capacities, performance levels and features with pricing for the base V2 Lite (2.2 kwH battery, 94km range) at Rs 74,000 (ex-showroom Delhi) inclusive of subsidies and dealer discounts.

If this month’s retails are on the lower side, then it’s likely that e-2W buyers are awaiting the launch of the new Hero V2 Z on July 1, either as two different models or two variants of the same models. However, both are billed to be affordable e-2Ws and will help accelerate sales for Hero MotoCorp’s Vida brand. What’s to be expected is that the new Vida e-scooter will sport a different design which could be similar to the Vida Z showcased at EICMA 2024.

Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton, has clocked sales of 1,854 e-scooters in the first two weeks of June. The company has a six-model portfolio of e-scooters comprising the Nexus, Primus, Magnus LT/EX (100km+ range), Ampere Magnus Special, entry level Rio Li/La Plus and Zeal EX.

At No. 7 is Pur Energy, with 644 units. The Pune-based Bgauss Auto (588 units) is eighth, River Mobility (537 units) is ninth and electric motorcycle OEM Revolt Motors, is 10th with 336 units.

These Top 10 e-2W OEMs, with combined sales of 41,898 units, account for 95% share of the total retails of 43,917 units in the first two weeks of June 2025, leaving the balance 5% to the 188 other players. The top six OEMs – TVS, Bajaj, Ola, Ather, Hero MotoCorp and Greaves – between them account for 39,793 units or a 91% share of total sales, reflecting just where the market strength lies.

Legacy OEMs TVS, Bajaj Auto, Hero MotoCorp, Greaves Electric Mobility and Kinetic Green, with 27,207 units and a 62% share continue to hold sway over their startup cousins.

For the India e-2W industry per se, sales in the current calendar year are currently at the same pace they were In CY2024. Between January 1 and June 14, 2025, as per Vahan data, a total of 543,537 electric scooters, motorcycles and mopeds have been retailed across India. This is 47% of the 1.14 million units (11,49,378 units) sold in CY2024.

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