TVS, Bajaj, Ather and Hero Vida Open FY2027 with Strong E-2W sales, Ola Sells 12,000 Units

The Indian electric 2-wheeler industry, which registered record retail sales of 1.40 million units, has opened FY2025 on a strong note. April 2026 saw a total of 148,677 units delivered to e-2W buyers, up 61% YoY (April 2025: 92,536 units) and in line with the strong growth displayed since the start of CY2026. April sales are the second highest monthly numbers in the current year to date, after March 2026 (192,343 units, up 46% YoY

Combined sales of the Top 4 OEMs – TVS, Bajaj Auto, Ather Energy and Hero Vida – at 112,798 units give them a 76% share of April’s retails of 148,677 units, which is the second highest monthly score.   

Market leader TVS Motor Co, which sold a record 341,983 e-scooters comprising the iQube and Orbiter in FY2026, sold 37,661 units in April 2026. This is a handsome 96% YoY increase (April 2025: 19,176 units) and gives the company a monthly market share of 25% at the start of FY2027. TVS’ April sales are its second-highest monthly numbers, and come just one month after the company hit its highest scale in March 2026 (49,719 units). What has helped drive demand is the strategic move to offer the Battery-As-A-Service (BaaS) across its EV portfolio. The BaaS model lowers the upfront cost, while offering customers long-term battery assurance and peace of mind. While the flagship iQube remains the model with the highest share of sales, the Orbiter is witnessing growing demand. Two months ago, TVS launched a new edition in the form of the Orbiter V1 (1.8 kWh) at Rs 84,500 (ex-showroom Delhi, inclusive of PM e-Drive) and Rs 49,999 (with BaaS).

Bajaj Auto delivered 32,883 Chetak e-scooters last month, up 72% YoY (April 2025: 19,162 units), which gives it a 22% e-2W market share for April 2026. This is the third highest monthly score for the Pune-based major after March 2026 (46,544 units) which was only other month when the company had retailed over 40,000 units and March 2025 (35,215 units).

Third-ranked Ather Energy is still behind Bajaj Auto in numbers but eyeing the No. 2 position. The EV start-up, which has surpassed 600,000 cumulative retail sales recently, sold 27,024 units in April 2026. This gives it an 18% market share and marks robust 103% YoY growth (April 2025: 13,332 units) and is the company’s second-highest monthly total. This is the sixth instance of the smart e-scooter start-up clocking 20,000-plus sales with the highest coming in March 2026 (36,125 units).

Hero Vida, the EV arm of Hero MotoCorp, is now well entrenched as the No. 4 e-2W OEM. In April 2026, the company sold 15,230 units, up 148% YoY (April 2025: 6,150 units). The Vida brand, which has crossed cumulative sales of 200,000 units including 100,000 in 8 months, had an e-2W market share of 10% in April.

Ola Electric is back to being the No. 5 e-2W OEM in monthly sales for the second month in a row. Ola, which had slipped to No. 6 position in February 2026 and below Greaves Electric Mobility for the first time, sold 12,166 units in April 2026, which is 2,037 more e-2Ws than in March (10,117 units). This, however, is a 39% YoY decline (April 2025: 19,824 units) and its best monthly performance in the past six months after October 2025 (16,064 units). An energised Ola looks to be back in the ‘game’ with retail sales increasing month on month.

Greaves Electric Mobility (6,884 units, up 72% YoY) and Ampere Vehicles are back at No. 6 position they had occupied before February. In April 2026, GEM had a 5% e-2W market share. GEM’s previous best monthly sales came in October 2025 (7,635 units) and Ampere (as a single entity) in November 2022 (12,260 units). On April 24, GEM launched the new Ampere Magnus Neo, a lighter and redesigned variant which is aimed at urban commuter buyers.

Bengaluru-based River Mobility, which is witnessing growing demand for its sole product – the River Indie – delivered 3,198 units, up 302% YoY (April 2025: 796 units). The company had clocked its highest monthly sales in March 2026 (4,200 units) and has sold over 30,000 units till end-April 2026.

EV startup Bgauss Auto, which began sales in August 2022, sold 3,065 units last month, up 133% YoY (April 2025: 1,313 units).

Simple Energy, which is witnessing a good run of demand for its e-scooters, sold 1,188 units last month, up 338% YoY (April 2025: 271 units). The company, which has a two-model portfolio in the form of the Simple One (4.5 kWh, 5 kWh) and OneS has recently announced the Ultra claimed to deliver a 400km travel range. In January this year, the company introduced its Gen 2 line-up which are updated versions of the existing models. The upcoming e-scooter, understood to be called the Simple Arrive, is a family-centric model which could rival the TVS iQube, Ather Rizta and Bajaj Chetak.

Haryana-based Bounce Electric enters the Top 10 listing with 1,077 units, up 1583% YoY on a low base of just 64 units in April 2026.

Of the 10 companies vying for a slice of India’s booming e-2W market, combined sales of these Top 10 OEMs at 140,376 units accounted for 94% of the 148,677 units sold in April 2026, leaving the remaining six percent to be fought over by the other 150 players. The Top 5 OEMs – TVS, Bajaj Auto, Ather Energy, Hero Vida and Ola Electric – though maintained their stranglehold over the segment. Their combined sales of 124,964 units give them an 84% share of April’s retail sales.

Meanwhile, the three Japanese OEMs have together sold 753 e-scooters in April 2026. While Honda sold 377 units, Suzuki delivered 273 units of its e-Access and Yamaha 103 EC-06 e-scooters.

ALSO READ:
Ather Energy crosses 600,000 sales, 50% sold in the last 16 months