While TVS Motor’s market share in June expanded to 24% from 17.5% last year, Bajaj Auto saw its market share almost double to 21.8% from 11.3%.
01 Jul 2025 | 1784 Views | By Kiran Murali and Ketan Thakkar
India’s electric two-wheeler segment continued to accelerate in June 2025, registering a healthy 32% year-on-year growth. Registration data shows that automakers sold 105,282 two-wheelers during the month, up from 80,003 last year. Sequentially, volumes improved by 4% from May, indicating a stable, broad-based demand across urban and semi-urban centres.
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India’s electric two-wheeler segment continued to accelerate in June 2025, registering a healthy 32% year-on-year growth. Registration data shows that automakers sold 105,282 two-wheelers during the month, up from 80,003 last year. Sequentially, volumes improved by 4% from May, indicating a stable, broad-based demand across urban and semi-urban centres.
While June’s numbers reflect the growing consumer confidence in electric vehicles, what stands out is the apparent shift in market dynamics, with legacy internal combustion engine (ICE) players not just participating in the EV space but actively leading it.
TVS Motor Company topped the monthly sales chart again, with 25,274 registrations, translating into a 24% market share. This marks a YoY growth of 80% and reflects the sustained demand for the iQube, which has gained traction thanks to its strong value proposition and extensive availability.
Bajaj Auto came second, selling 23,004 units in June — a 154% jump over the same period last year. Bajaj has steadily ramped up production and visibility of the Chetak electric scooter, now reaching deeper into tier-2 cities and consolidating its market footprint.
While TVS Motor’s market share expanded to 24% in June from 17.5% in June last year, Bajaj Auto saw its market share almost double to 21.8% from 11.3% in the year-ago period. TVS and Bajaj now command nearly 46% of the electric scooter market.
Once the undisputed EV leader, Ola Electric recorded 20,189 units in the month. This represents a decline of 45% from the year-ago period. Its market share dropped significantly 19.2% from 46.1% a year ago.
Despite a 9% MoM improvement in registrations and a strong product portfolio, Ola appears to be ceding ground to established OEMs leveraging their ICE-era distribution networks, financing reach, and after-sales capabilities.
Ather Energy, another early mover in EV space, clocked 14,512 units in June, posting a 133% YoY growth. It now commands a 13.8% market share, up from 7.8% in the year-ago period and 12.9% in May. Thanks partly to the refreshed 450 series and expanding retail presence.
Hero MotoCorp, while relatively late to the party, is quickly gaining momentum. With 7,664 units sold in June, up 149% YoY, the automaker has more than doubled its share to 7.3% compared to last year, signaling a substantial ramp-up in its electric ambitions through the Vida brand.
Other players - Greaves Electric, BGauss Auto, and Kinetic Green – saw steady performance during the month. On the other hand, former front-runners - Okinawa Autotech and Hero Electric - continued to face steep declines.
Hero Electric, in particular, saw its volumes drop by 86% YoY to just 41 units, while Okinawa slipped by 57% to 159 units, reflecting serious challenges in sustaining demand amid intensified competition and evolving consumer expectations.
From a cumulative standpoint, the first quarter (April-June) of the financial year 2026 saw total electric two-wheeler registrations grow 34% on year to 298,576 units.
TVS has doubled its volumes compared to the year-ago period, while Bajaj Auto’s volume grew at an impressive rate of 148%. Hero MotoCorp, with over 20,000 units sold this fiscal so far, has recorded a 223% growth.
The evolving market landscape reveals a clear trend — the balance of power in the electric two-wheeler industry is shifting from startups to traditional ICE giants who are now better positioned to scale, support, and service electric mobility.
As the segment matures and electric scooters go mainstream, consumer preferences are tilting towards brands with proven track records and dependable after-sales support. With more product launches expected in the second half of the fiscal, the next few quarters could well be the defining phase of India’s electric two-wheeler transition.