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Demand Grows Strongly for Ultraviolette Performance Electric Motorcycles

Ajit Dalvi — Wed, 13 May 2026 09:34:43

Even as electric scooters command the bulk of the retail sales of electric two-wheelers which clocked a record 1.4 million units in FY2026, demand is slowly growing for the nascent electric motorcycle segment in India. This sub-segment currently has only a few players in the form of Revolt Motors, TVS-backed Ultraviolette, Ola Electric, Oben EV, KLB Komaki, Matter Motor Works, Okaya EV and Wardwizard Innovations. Now, as per the latest Vahan retail sales data, demand is seen to be growing for Ultraviolette Automotive which has registered its best-ever quarter sales of 975 units in Q1 CY2026 (January-March 2026), up 373% YoY on a low year-ago base (Q1 CY2025: 206 units).

Ultraviolette, which registered its highest first-quarter sales of 975 units in January-March 2026, looks well set to achieve record sales of around 3,800 to 4,000 units in CY2026.

The Bengaluru-based Ultraviolette, incubated as an EV startup in 2016, manufactures performance electric motorcycles that are well-known for their high-voltage battery systems, advanced electronics, and aerospace-inspired engineering.

Cumulative retail sales since February 2023 till May 9, 2026 indicate that Ultraviolette has delivered 3,799 electric motorcycles, of which 81% (3,085 units) have been sold in the past 16 months and 12 days. While sales in CY2023 (271 units) and CY2024 (443 units) were tepid, demand rose by 250% YoY in CY2025 (1,551 units) and is set to scale a new high this year. Between January and May 12 this year, the company has already sold and delivered 1,534 units to customers. Ultraviolette opened this year with record monthly sales of 403 in January albeit numbers were lower in February (283 units), March (289 units) and April (379 units). The first 12 days of May have seen sales of 180 units.

On the sales network front, Ultraviolette at present has over 40 experience centres across major Indian cities and has stated that it “will be present across 100 cities by end of 2026”.

The company currently has five models on sale with pricing starting at Rs 145,000 for the Tesseract, which is the cheapest model, and goes up to Rs 449,000 for the top-end Desert Wing variant of the flagship X-47, the most expensive model in the lineup (ex-showroom). The F77 Mach 2 (155kph top speed), F77 Superstreet (155kph top speed) and X-47 (145kph top speed) share the same powertrain rated at 40.2 hp and 100 Nm of torque, with a claimed 0-60kph time of 2.8 seconds. The 10.3 kWh battery delivers an IDC-rated range of 323km per charge. The fourth product is the Shockwave (Rs 175,000) designed for efficient and eco-friendly city commuting as well as short weekend rides and targeted at urban riders. The fifth model is the Tesseract scooter (Rs 145,000) with a claimed IDC range of 261km, 0-60kph sprint in 2.9 seconds and rated for 20.4hp, helping it achieve a claimed top speed of 125kph. Deliveries of the Tesseract, which is said to have received a good response, are slated to commence in the second half of this year.

In early March this year, Ultraviolette cut the flagship X-47’s entry-level variant’s ex-showroom price of Rs 250,000 by 101,000 by introducing the Battery-as-a-Service option to enhance affordability.

BaaS SLASHES FLAGSHIP X-47 PRICE BY Rs 101,000

September 2025 saw Ultraviolette launch the flagship X47 model, priced at Rs 250,000 (ex-showroom) and capable of a claimed 323km range, 0-60kph in 2.7 seconds and a top speed of 145kph. Powered by a 40 hp (30 kW) motor developing 610 Nm of torque, the X47 at launch had price parity with similarly powered ICE motorcycles.

In early March this year, in a strategic move to enhance EV affordability and similar to that adopted by TVS, Ather Energy, Bajaj Auto and Hero Vida, Ultraviolette in association with NBFC Ecofy introduced Battery Flex, a BaaS-driven battery subscription model, on all five variants of the X-47 as also the F77 Original and F77 Recon. Under this new subscription model, customers can purchase the X-47 for Rs 149,000, while the battery can be subscribed to at a starting price of Rs 2,499 per month. This EMI will have to be paid over five years. Ultraviolette says opting for Battery Flex reduces the initial purchase cost by nearly 40%, making the e-motorcycle more accessible to a wider range of buyers. After customers finish paying monthly EMIs for the battery during the financing period, the battery ownership will be transferred to them at no additional cost.

According to Ultraviolette’s CEO and co-founder Narayan Subramaniam, the new pricing structure makes the motorcycle competitive with petrol-powered bikes in a similar performance bracket. He added that the subscription model allows riders to access advanced technology and performance while keeping monthly operating costs lower than the average fuel expense for many motorcycles.

Ultraviolette at present has over 40 experience centres across major Indian cities and plans to expand its sales and service network to 100 cities in India by the end of CY2026.

CAN ULTRAVIOLETTE DISRUPT THE PREMIUM ICE MOTORCYCLE MARKET?

Admittedly, given the premium pricing of its e-motorcycles which are targeted at premium petrol-powered 300cc-400cc IC-engine motorcycles including the Royal Enfield 350c bikes (Classic, Bullet, Hunter and Meteor), Bajaj Pulsar N250, TVS Apache RTR 310, BMW G310R, Kawasaki Ninja 300, KTM 390 Duke, Husqvarna Svartpilen 401, Harley-Davidson X440 and Mavrick 440, Ultraviolette will remain a niche player. However, the recent move to offer Baas on the F77 models and X-47 seems to have clicked, making the zero-emission bikes more affordable.

Can this Bengaluru-based e-motorcycle startup, which now also has an e-scooter, disrupt the e-2W market, particularly at the premium end? Midsize motorcycle major Royal Enfield, which marked its entry into EVs on April 9 with the Flying Flea priced at Rs 279,000 and Rs 199,000 (with Baas), has had limited success in its first month of sale. As per Vahan, only 6 units have been sold till May 12, 2026.

Importantly, Ultraviolette e-bike performance is comparable to ICE motorcycles. In fact, in March 2025, in association with Autocar India bike testers, the revealed-at-EICMA but yet-to-be-launched Ultraviolette F99 hit 258kph on the race track at NATRAX Indore. Along the way, the green speed machine also set records for 0-100kph in under 3 seconds, 0-200kph in 9 seconds and the fastest quarter-mile in 10.712 seconds.

The clincher, of course, is the wallet-friendlier cost of charging versus tanking up on expensive petrol (Rs 103.49 a litre in Mumbai on May 12, 2026), which is likely to get dearer soon and could see a number of ICE two-wheeler buyers across the scooter and motorcycle segments actively consider buying an EV.

India’s top four legacy ICE 2W players – Hero MotoCorp, Honda Motorcycle & Scooter India, Bajaj Auto and TVS Motor Co – which have diversified into electric scooters, are looking to advance their e-2W game into electric motorcycles. Electric motorcycles is the only remaining ‘white space’ which remains unexploited due to technological constraints vis-à-vis e-scooters, high battery costs, limited range and a paucity of affordable products at present. Even a small percentage of the high-volume ICE motorcycle segment, which clocked sales of 13 million units in FY2026, would result in big numbers.

ALSO READ: Hero, Honda, TVS, Bajaj and Royal Enfield target India’s nascent electric motorcycle market

Honda Adds E-Clutch Technology to NX500 Adventure Tourer

Autocar Professional Bureau — Tue, 12 May 2026 10:25:08

Honda Motorcycle & Scooter India (HMSI) has introduced its E-Clutch technology on the NX500 adventure touring motorcycle in India. The updated model is priced at ₹7,43,900 (ex-showroom, All India), with bookings opening across Honda BigWing dealerships from May 11, 2026.

The E-Clutch system electronically manages clutch engagement during starts, gear shifts and stops, reducing the need for manual clutch operation in traffic and during long-distance riding. Riders can still override the system manually when required.

Honda says the addition is aimed at improving riding comfort in urban conditions while retaining the conventional riding feel associated with manual motorcycles. Commenting on the launch, Tsutsumu Otani, President & CEO, Honda Motorcycle & Scooter India, said the technology is intended to “enhance comfort and control across both urban and touring environments in India, by reducing rider fatigue, while retaining the engaging, hands-on riding experience.”

The NX500 continues to use a 471cc liquid-cooled parallel-twin engine paired with a 6-speed gearbox. Honda says the engine has been tuned for stronger low- and mid-range torque delivery while maintaining linear power at higher RPMs.

Cycle parts include a steel diamond frame, Showa SFF-BP upside-down front forks, preload-adjustable rear monoshock, dual front disc brakes, rear disc brake and dual-channel ABS. The motorcycle rides on a 19-inch front and 17-inch rear wheel setup.

Other equipment includes a 5-inch TFT display with Honda RoadSync connectivity, Honda Selectable Torque Control (HSTC) and full-LED lighting. The NX500 will be available in Mat Gunpowder Black Metallic and Pearl Horizon White colour options.

Ather Records Three Lakh Sales for Rizta Scooter

Dev Vadchhedia — Mon, 11 May 2026 16:44:39

Ather Energy announced that its Rizta electric scooter has surpassed the three lakh unit sales mark within two years of its market introduction in April 2024. The manufacturer reported that the model achieved its first one lakh sales in 11 months, reached the two lakh milestone by December 2025, and added another one lakh units over the subsequent five months.

The model has become the highest volume driver for the company, accounting for 76 percent of its total sales portfolio in the 2026 financial year. Ravneet Singh Phokela, Chief Business Officer at Ather Energy, noted that the product helped the brand secure a leadership position in southern India while significantly expanding its market share in the central and western regions.

The scooter features 56 liters of total storage capacity alongside safety integrations such as skid control technology. According to vehicle registration data, Ather Energy expanded its market share by four times in Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, and Odisha, rising from 4.1 percent in the first quarter of the 2025 financial year to 17.3 percent by the fourth quarter of the 2026 financial year. The company also recorded a threefold market share growth in northern states including Punjab, Rajasthan, and Uttar Pradesh.

Navigation Usage Rises Among India’s Two-Wheeler Riders Amid Traffic, Delivery Pressures: HERE Study

Autocar Professional Bureau — Mon, 11 May 2026 14:06:08

India’s two-wheeler riders are increasingly depending on navigation tools to manage congested roads, delivery timelines and daily commuting, according to a new study released by HERE Technologies.

The study, titled Inside the Two-Wheeler Landscape in APAC: Key Trends and Rider Behaviors, surveyed more than 2,400 riders across six Asia-Pacific markets, including 404 respondents from India. Conducted by Point Consulting in the first quarter of 2026, the study examined rider behaviour across commuters, delivery workers, leisure riders and EV users.

High Navigation Usage In India

According to the findings, 61% of surveyed riders in India said they use navigation services “often” or “always”, placing the country among the highest users of navigation tools in the APAC region. Riders prioritised features such as real-time traffic alerts, accurate estimated time of arrival (ETA), turn-by-turn voice directions and full-screen map views.

The study noted that Indian riders increasingly evaluate navigation platforms based on how accurately they reflect live traffic conditions, road constraints and routing efficiency. Many respondents also viewed navigation as a productivity and stress-management tool in dense urban traffic environments.

Delivery Riders Prioritise Routing Accuracy

The report highlighted strong navigation dependency among gig economy and delivery riders, who rely on accurate routing and ETAs to maintain workflow efficiency and customer satisfaction. Common concerns cited by delivery riders included poor routing, inaccurate travel-time estimates and unsafe shortcut suggestions.

Among the most valued features for delivery riders were safer route suggestions, multi-stop routing support and instant diversion options during congestion or unexpected delays. The study stated that navigation accuracy increasingly affects rider productivity, ratings and earnings.

Safety-Focused Features Gain Importance

The report also pointed to rising demand for safety-oriented navigation features in India’s mixed-traffic conditions. Riders indicated a preference for alerts related to potholes, damaged roads, accident-prone areas, sharp curves and better-lit routes during night riding.

Shyam Shankar Raman, Business Segment Head for Two-Wheelers, Asia Pacific at HERE Technologies, said riders in India expect navigation systems that can respond to rapidly changing on-road conditions and support daily productivity through dependable routing and ETA accuracy.

The study noted that as urban congestion and gig-economy activity continue to grow, demand for real-time traffic intelligence and two-wheeler-specific routing solutions is expected to increase further.

India Two-Wheeler Registrations Rise 12.9% In April 2026: JATO

Autocar Professional Bureau — Mon, 11 May 2026 13:52:47

India’s two-wheeler market recorded registrations of around 1.92 million units in April 2026, marking a 12.9% year-on-year increase, according to data released by JATO Dynamics India. On a month-on-month basis, however, registrations declined by 2.3% compared to March 2026, reflecting the typical slowdown following the financial year-end rush.

JATO said the April performance indicates continued retail demand across both urban and rural markets despite the moderation in volumes after FY26 closed. The market entered FY27 on what the firm described as a “stable footing”, aided by improving consumer sentiment, steady financing availability and better product supply.

Commenting on the data, Ravi Bhatia, President, JATO Dynamics India – Global Automotive Intelligence, said, “April’s two-wheeler numbers reflect a mature and predictable market. The marginal month-on-month decline is seasonal and expected. The year-on-year growth, on a higher base, is the real story – and it remains firmly intact.”

Hero, Honda Continue To Lead

Hero MotoCorp remained the largest two-wheeler maker by registrations in April with over 5.52 lakh units, while Honda followed with more than 4.72 lakh units. TVS Motor posted year-on-year growth of over 18%, and Yamaha also reported higher registrations during the month. Suzuki, meanwhile, saw a marginal decline.

At the model level, Hero Splendor Plus continued to be the country’s highest-registered two-wheeler. Honda Activa retained its lead in the scooter segment, followed by TVS Jupiter, while Bajaj Pulsar remained the top-selling sporty commuter motorcycle.

Motorcycles Dominate Segment Mix

Motorcycles accounted for close to 59% of total registrations in April, while scooters contributed around 30%. Electric scooters made up nearly 9% of registrations, reflecting continued growth in EV adoption across the segment.

JATO noted that mopeds, big bikes and electric motorcycles continued to remain niche categories with comparatively lower volumes.

Delhi Tops City Registrations

Among cities, Delhi emerged as the largest two-wheeler market in April, followed by Bengaluru and Pune. Chennai and Mumbai also featured among the leading markets despite traffic and cost pressures in urban centres.

At the state level, Uttar Pradesh led registrations, followed by Maharashtra, Tamil Nadu and Bihar, highlighting demand across northern, western and southern regions of the country.

TVS Raider 125 Sales Hit 1.9 Million Units Since Launch

Ajit Dalvi — Mon, 11 May 2026 11:45:08

The TVS Raider 125, launched in India on September 16, 2021, has notched a new sales milestone a few months before it completes five years in the market later this year. Cumulative domestic and export sales from market introduction till end-March 2026 have surpassed the 1.9 million-unit mark (19,07,277 units). These comprise 1.62 million in domestic wholesales and 286,008 units in exports.

The success of TVS Motor Co’s first 125cc motorcycle is proof that the company entered the 125cc sporty commuter bike segment just as it was gaining traction in India. In the domestic market, from launch in FY2022 through till March 2026, the Raider 125 (1.62 million units) has accounted for 31% of TVS Motor’s cumulative motorcycle sales of 5.27 million motorcycles. The Apache series of bikes in the same five-year period has sold 2.07 million units, which gives it a 38% share of TVS motorcycle sales.

From launch until end-March 2026, the Raider 125 has sold 1.62 million units in India and accounted for 31% of TVS’ cumulative motorcycle sales of 5.27 million units. 286,008 units have been exported.

Over the past five fiscal years, the TVS Raider’s ranking in the motorcycle industry’s top-selling models has risen from No. 9 in FY2023 to No. 6 in FY2026. The TVS Raider’s best fiscal yet was FY2024, when it sold 478,443 units, up 100% YoY (FY2023: 239,388 units), when it accounted for 39% of TVS Motor Co’s total bike sales of 1.22 million units. In FY2024, the Raider 125 earned the distinction of being TVS Motor Co’s best-selling bike, with a YoY doubling of sales to 478,443 units — 100,361 units ahead of the TVS Apache series (378,072 units). FY2025, however, saw demand fall 16% YoY to 399,819 units, and its share of TVS motorcycle sales slip to 33% with the Apache series bikes (446,218 units) having the larger 37% share.

FY2026, with GST 2.0 driving down prices from October 2025 onwards, saw demand return to the Raider 125 with sales rising 7% YoY to 426,877 units and helping it surpass the 400,000 milestone for the second time.

The TVS Raider 125 is part of a competitive segment which has well-established rivals like the Honda Shine, Bajaj Pulsar, Hero Glamour, Super Splendor, Xtreme 125, Bajaj Pulsar, and the Honda CB125 Hornet, launched in August 2025. The Bajaj Freedom 125, the world's first CNG-powered motorcycle, is also part of the segment.

In FY2026, the 110cc-125cc segment registered flat sales of 36,15,850 units (FY2025: 36,00,397 units), which marks an addition of only 15,453 more units year on year. Of the nine models in the fray, only five, including the TVS Raider 125 – the third highest-selling model – posted growth. The Raider (426,877 units, up 7% YoY) accounted for a 12% share of this segment, which was led by the Honda Shine (1.71 million units, up 5%, 47% share) and the Bajaj Pulsar (774,995 units, down 3%, 21% share). The fourth best-selling bike in this category was the Hero Glamour (220,849 units, up 24%, 6% share). These four bikes are followed by the Hero Xtreme 125R (210,031 units, down 26% YoY), Hero Splendor (186,111 units, down 26% YoY) and the Honda CB125 Hornet, which sold 65,636 units in the last eight months of FY2026.

Meanwhile, on the export front, as per SIAM data, 286,008 TVS Raiders have been shipped to overseas markets till FY2026, which was the best export fiscal year with 76,900 units, up 8% YoY and accounted for 6% of TVS’ record bike exports of 1.29 million units.

Snazzy Design and Tech Pay-off for TVS Raider 125

The snazzy styling, with more than a hint of sportiness compared with the staid designs of most of its rivals, seems to have paid dividends for the Raider 125, which had won Autocar India's Bike of the Year 2022 accolade for its combination of striking looks, punchy engine, and value-for-money proposition.

The Raider 125 is powered by TVS’ potent 124.8cc engine, which develops 11.4hp and 11.75 Nm of torque, mated to a five-speed transmission. While top speed is 99kph, fuel efficiency is an ARAI-certified 56.7kpl. In real-world conditions. What also draws buyers to the TVS Raider 125 is the range of features, including ride modes, a five-inch TFT display, SmartXonnect and boost mode. The Raider 125 features single-channel ABS on the new SXC DD and TFT DD variants. Priced from Rs 82,000 through to Rs 97,000 (ex-showroom), the Raider 125 is available in seven variants: Drum, Single Seat, SSE, iGO, Split Seat, SXC DD, and TFT DD.

Will the TVS Raider 125 continue to display similar or better growth in FY2027? Difficult to say at this stage in the current fiscal year, what with motorcycle as well as two-wheeler demand set to stay higher for fuel-sipping frugal 100-110cc machines in the current scenario of dampened crude oil supplies and the likelihood of petrol prices being hiked.

ALSO READ: Record scooter and bike sales power TVS to best-ever 4.24 million units in FY2026
TVS Apache sells record 571,376 units in FY2026, captures 38% share of 150-200cc bike market

Ola Electric’s S1 X+ 5.2 kWh With Bharat Cell Receives ICAT Certification

Autocar Professional Bureau — Fri, 08 May 2026 14:18:15

Ola Electric has announced that its S1 X+ electric scooter equipped with the company’s in-house developed 4680 Bharat Cell battery pack has received approval under the Central Motor Vehicle Rules (CMVR), 1989 from the International Centre for Automotive Technology (ICAT), Manesar.

The certified model, the S1 X+ 5.2 kWh, is positioned as the longest-range offering in the company’s mass-market scooter portfolio. According to Ola Electric, the scooter delivers an IDC-certified range of 320 km and a top speed of 125 km/h. It is powered by an 11 kW mid-drive motor integrated with a motor control unit (MCU).

The scooter uses Ola Electric’s indigenously developed 4680 Bharat Cell technology, which the company says offers higher energy density and improved thermal capabilities. The certification marks a broader rollout of the battery technology across Ola Electric’s scooter and motorcycle portfolio as the company continues its vertically integrated manufacturing approach covering cell development, battery pack engineering and vehicle production.

Commenting on the development, an Ola Electric spokesperson said, “The government certification of the S1 X+ 5.2 kWh is a significant milestone as we bring our in-house developed 4680 Bharat Cell technology to the mass market at scale.” The spokesperson added that the product is intended to make electric mobility more practical for customers beyond major urban centres.

According to the company, the certification followed a validation programme covering vehicle safety, performance and regulatory compliance tests mandated under CMVR norms. These included constructional and functional safety checks, range validation and other performance parameters assessed by ICAT.

Ather Rizta Crosses 300,000 Sales, Commands 76% Share of EV Startup’s Portfolio in FY2026

Ajit Dalvi — Fri, 08 May 2026 10:01:45

Twenty-five months after it was launched on April 6, 2024, the Ather Rizta, Ather Energy’s flagship electric scooter, has surpassed the wholesale milestone of 300,000 units in the domestic market. Over the past two years, the rapidly growing sales of the family e-scooter have helped boost the Bengaluru-based EV startup’s e-2W market share and made Ather the strong No. 3 OEM after TVS Motor Co and Bajaj Auto.

Total cumulative wholesales of the Rizta, starting FY2025 through to the first month of FY2027 (April 2026), are estimated to be 309,501 units. With deliveries beginning in July 2024, the first 100,000 Riztas were dispatched in a little over 10 months, news which Autocar Professional broke on June 1, 2025. The 200,000 milestone came up in early October 2025. And now the 300,000 milestone has been achieved at the end of April 2026.

The Rizta’s share of Ather Energy’s e-scooter sales jumped from 58% in FY2025 to 76% in FY2026.

A look at the wholesale data table above reveals the rapid advance of the Rizta and its growing share in Ather Energy’s EV portfolio, which includes the 450X, 450S and 450 Apex. Compared to the other products, this tech-laden family e-scooter has helped unlock a much larger addressable market for the company.

In FY2025, the Rizta (89,639 units) had a 58% share of Ather Energy’s total dispatches of 155,405 e-2Ws. A 121% YoY increase in FY2026 saw Rizta’s contribution increase to 76% of the record 260,070 e-scooters Ather sold last fiscal. And in April 2026, the first month of the current fiscal year (FY2027), it is estimated that the Rizta accounts for a 77% share of the 27,643 e-2Ws Ather has likely dispatched. While official monthly stats have yet to be revealed, the April 2026 numbers are an average of Ather’s total Q4 FY2026 (January-March 2026) wholesales of 82,929 units.

Rizta Powers Ather Energy Record Sales in FY2026

A deep dive into the quarter-on-quarter (QoQ) sales split of both Ather Energy’s overall portfolio sales as well as Rizta’s sales offers insight into how instrumental the family e-scooter has been to the company’s speedy growth in the past fiscal year.

Ather Energy’s best quarter was Q4 FY2026 (82,929 units), where the Rizta (64,159 units) had a 77% share.

In FY2026, Ather Energy sales rose in double-digits each quarter. Q2 (July-September 2025) sales at 47,608 units were a 39% increase over Q1 (April-June 2025: 34,149 units). While Q3 (October-December 2025: 52,661 units) was an 11% QoQ improvement, Q4 (January-March 2026: 64,159 units) marked a 22% QoQ increase. Common to each quarter was the handsome contribution of the Rizta – 73% in Q1, 76% in Q2, 78% in Q3 and 77% in Q4. In the January-March 2026 period (Q4 FY2026), the Rizta (64,159 units, up 98% YoY) helped power Ather Energy’s best-ever quarter sales of 82,929 units and the resultant record 260,070 e-scooters in FY2026. The next highest-selling model for Ather was the 450X (12,211 units), followed by the 450S (5,554 units) and the 450 Apex (1,005 units).

The Rizta has been a key driver of Ather’s market share gains across India. As per a recent company press release, “Middle India saw the fastest growth, with the share rising to 17.3% in Q4 FY2026 from 9.5% a year ago, while Rest of India grew to 12.1% in Q4 FY2026 from 6.5% in Q4 FY2025. South India remained the strongest region, retaining leadership with a 23.5% market share in Q4 FY2026.”

With its new EL platform, which can spawn e-scooters ranging from commuter, family to high-performance models, Ather will be keen to replicate the success of the Rizta on a much larger scale.

Ather Energy the Strong No. 3 in Electric 2-wheelers

The Rizta’s stellar performance ensured that Ather Energy was the third-largest contributor to India e-2W Inc’s record retail sales of 1.4 million units in FY2026. Furthermore, it enabled the smart e-scooter OEM to cross the cumulative 600,000-units retail sales milestone in end-April this year.

The Rizta, which has marked a strategic product shift for Ather, was designed and developed with a focus on practicality – and also to take on the competition in the form of the TVS iQube and Bajaj Chetak – the Rizta’s highlights include the largest two-wheeler seat in India, ample storage space and a host of user-friendly features.

What has also drawn buyers to Ather products is its BaaS (Battery as a Service) business model. By decoupling the battery cost, the company has reduced the upfront price of the Rizta S, which starts at Rs 117,000 (ex-showroom, Bengaluru), to Rs 76,000, making the premium family scooter far more affordable.

Now firmly at No. 3 in e-scooter retail sales after TVS Motor and Bajaj Auto, Ather has also set its sights on the nascent electric motorcycle market, as reflected in its strategic growth programme. Along with the new EL e-scooter platform, the startup is developing the Zenith platform – understood to be in its early stages – which will spawn electric two-wheelers targeted at the 125-300cc motorcycle segment.

Meanwhile, Ather is set to substantially expand its annual manufacturing capacity. Currently, it is 420,000 units from its two existing plants at Hosur, Tamil Nadu, one each for e2W assembly and battery production. A third plant in Chhatrapati Sambhajinagar, Maharashtra, capable of manufacturing a million units annually, will expand Ather’s overall capacity to 1.42 million units. The first phase of this upcoming high-tech facility is slated to become operational in the second half of 2026, around the festival season this year, which begins in the third week of October.

ALSO READ:

TVS, Bajaj, Ather and Hero Vida open FY2027 with strong sales, Ola sells 12,000 units

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

Royal Enfield to set new manufacturing facility in Andhra Pradesh with Rs 2,200 crore investment: Report

Autocar Professional Bureau — Thu, 07 May 2026 19:26:23

Royal Enfield is establishing a new manufacturing facility and vendor park in Andhra Pradesh with an investment of Rs 2,200 crore, as reported by The Economic Times. This development marks the motorcycle maker's first expansion outside of Tamil Nadu since it began operations there in 1955.

The new facility will be located on a 276 acre site spanning the villages of Vanelluru and Rallakuppam in the Satyavedu region of Tirupati district. The project received clearance from the Andhra Pradesh State Investment Promotion Board, which is chaired by Chief Minister N Chandrababu Naidu.

The expansion is planned in two phases. The first phase, which includes the construction of a dedicated vendor park, is scheduled for completion by 2029. The second phase is expected to be operational by 2032. Once fully completed, the plant will increase Royal Enfield's annual production capacity by 9 lakh units, building upon its current capacity of nearly 15 lakh motorcycles. The automaker also estimates that the new manufacturing unit will create 5,000 direct and indirect employment opportunities.

Andhra Pradesh IT and Electronics Minister Nara Lokesh confirmed the investment details in a statement to The Economic Times, noting that the project aligns with the state's efforts to build an advanced automobile manufacturing ecosystem.

Exclusive: Royal Enfield Gears Up for 18-Product Blitz as Rivals Crowd the Mid-size Segment

Kiran Murali — Thu, 07 May 2026 14:56:07

Royal Enfield ramps up product strategy amid rising mid-size motorcycle competition

As global and domestic rivals crowd into India’s mid-size motorcycle space, Royal Enfield has been reinforcing its position, leaning on strong brand recall, scale and a steady flow of new products. With competition set to intensify further, the Eicher Motors-owned brand is planning a sharper round of product interventions this year, including a move into larger motorcycle segments.

Royal Enfield expands beyond utility riding to target urban touring and lifestyle buyers

Royal Enfield is recalibrating its product offerings with a growing set of riders, particularly in the urban areas, moving beyond utility- driven by weekend rides, touring culture and riding communities. The company is planning to expand its offering beyond its existing 650cc segment while sharpening its existing portfolio, a move that also aligns with its broader global ambitions.

Royal Enfield to launch five new motorcycles and 13 portfolio updates in FY2027

Autocar Professional learns that the mid-size motorcycle major plans to introduce five all-new models alongside 13 updates to its existing portfolio in a calibrated push during this financial year 2027 to reinforce its core segments. Sources tell us that new model launches include the Bullet 650, Himalayan 440, Continental GT750, Himalayan 750 and Scram 450.

Continental GT750 and Himalayan 750 to push Royal Enfield into higher-capacity segment

The upcoming Continental GT750 and Himalayan 750 are set to take Royal Enfield into a higher engine class, beyond its current 650 Twin platform. The move points to a stronger push in the premium segment. With these larger motorcycles, the company is also creating a clear upgrade path for its wide base of 350cc customers.

Harley-Davidson, Triumph, Honda and Bajaj intensify competition in premium motorcycle market

The timing of this push is notable. Global brands such as Harley-Davidson, Triumph and Honda, along with domestic players including Hero MotoCorp and TVS Motor Company, are expanding their presence in the premium motorcycle space in line with the market demand trend. At the same time, Bajaj Auto has stepped up competition in Royal Enfield’s core segment with the launch of 350cc motorcycles under the Triumph Motorcycles partnership in India.

Royal Enfield continues to outperform India’s motorcycle market despite growing rivalry

Despite this rising competition in the mid-size motorcycle space over the past few years, Royal Enfield has been outpacing the broader motorcycle market growth. Thanks to sustained demand for its 350cc range, which remains the backbone of its volumes.

Royal Enfield dominates India’s emerging 500cc-800cc motorcycle segment with 650 Twins

In India, the 500-800cc motorcycle segment is still at an early stage, with annual volumes of around 48,000 units and is yet to evolve, unlike the global markets. While players such as Honda, Suzuki, Triumph Motorcycles and Kawasaki have a presence, Royal Enfield continues to dominate the space. Its 650 Twin models account for over 90% share in this segment, giving it a strong base to build on as the category develops.

Royal Enfield crosses 1.2 million sales milestone as exports and production surge in FY2026

During the financial year 2026, the automaker’s total dispatches crossed the 1.2 million mark for the first time, while production rose 23% on-year to 12.4 lakh units. Domestic sales continued to anchor the business with about 11.07 lakh units, while exports scaled to over 1.3 lakh units, reflecting steady traction in overseas markets.

Royal Enfield targets double-digit domestic growth and 1.32 million production in FY2027

According to sources, Royal Enfield aims to sustain the momentum in domestic market demand and achieve double-digit growth in the domestic market during the financial year 2027 to cross the 1.2-million-unit mark. The company is targeting to produce 1.32 million units in this financial year.

Royal Enfield enters electric motorcycle segment with Flying Flea C6 launch

Alongside its internal combustion engine portfolio, Royal Enfield has also taken its first step into electric mobility. The company recently launched the Flying Flea C6, priced at Rs 2.79 lakh (ex-showroom), marking its entry into the electric motorcycle space. The C6, unveiled under the Flying Flea brand at EICMA 2024, will be followed by the scrambler-styled S6 as part of the initial EV line-up.

Royal Enfield strengthens premium motorcycle leadership with aggressive multi-segment expansion

With a sharper product cadence across segments and powertrains, Royal Enfield is not just defending its turf, but actively expanding its playbook as it looks to stay ahead in an evolving mid-size motorcycle market.

Bajaj Chetak Races Past 700,000 Sales, Doubles e-2W Market Share in Two Years

Autocar Professional Bureau — Thu, 07 May 2026 09:51:50

The Bajaj Chetak, the first electric scooter to come from Bajaj Auto and the reborn avatar of the iconic Chetak as a zero-emission vehicle, has crossed the 700,000 cumulative sales milestone since launch in January 2020. As per the Vahan portal, retail sales of the Bajaj Chetak from FY2021 through to the first 36 days of FY2027 (April 1-May 6, 2026) are 727,779 units. This makes it only the third electric 2W OEM to achieve the 700,000 e-2W retail sales after Ola Electric and TVS Motor Co.

The Bajaj Chetak’s new retail sales milestone comes even as the company has recently launched the updated Chetak line-up with new features, higher top speeds and a revised ‘C Series’ naming structure and has also reported record performance in FY2026 across volumes, revenues, profits as well as cash generation.
Seventy-nine percent (577,023 units) of the 727,779 retail sales have come from FY2025 till the first 36 days of FY2027. Bajaj Auto’s e-2W share has more than doubled between FY2024 and FY2026.

As the retail sales data table above depicts, cumulative sales between FY2020 to FY2024 were 150,756 units or 21% of the 727,779 units sold to date. The bulk of the sales – 79% or 577,023 units – have come from FY2025 till the first 36 days of FY2027.

While sales in the initial years were tepid, demand for the Chetak rose strongly in FY2025 when 239,087 units were delivered to customers, up 114% YoY (FY2024: 111,713 units) and giving it the No. 3 rank after Ola Electric (359,784 units) and TVS Motor Co (252,832 units). FY2026 saw the Bajaj numbers rise 25% YoY to 298,436 units, which made it the No. 2 e2W OEM for the first time in a fiscal year, behind market leader TVS (35,406 units) and ahead of Ather Energy (251,346 units).

The rapid rise in the Bajaj Chetak’s sales is reflected in its increasing e-2W market share. In FY2023, the Chetak (29,963 units) had a 4% share of all-India e-2W sales of 761,200 units. Bajaj Auto’s e-2W share entered double-digits for the first time in FY2024 when it accounted for 11%, and then doubled it to 20% in FY2025.

FY2026 saw its market share remain unchanged at 20% albeit early into FY2027, the company has improved upon that percentage. Between April 1 and May 6, 2026, Bajaj Auto has delivered 39,500 units which gives it a 22% share of the 177,883 e-2Ws sold in India, behind TVS Motor Co (45,186 units, 25% e-2W share) and ahead of Ather Energy (32,434 units, 18% e-2W share) and Hero Vida (18,112 units, 10% e-2W share).

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

Bajaj Auto Sees Strong EV Growth as Fuel Price Concerns Lift Demand

Ketan Thakkar — Wed, 06 May 2026 22:07:33

Bajaj Auto Ltd expects strong growth in electric vehicle sales even as government subsidy support reduces, with expectations of higher fuel prices pushing more customers towards electric two- and three-wheelers, Executive Director Rakesh Sharma said.

Sharma said the company’s electric vehicle portfolio now contributes more than 20% of domestic revenues, with the EV business delivering double-digit margins along with the domestic portfolio. He said the impact of lower subsidies is getting diluted as consumers increasingly focus on running costs.

“The reduction in or the disappearance of the subsidy, which has now become quite less and in the face of all other things which are happening, it is really losing its edge in terms of its ability to affect consumer decision making,” Sharma said during a media call held to discuss the company’s earnings.

The comments come at a time when subsidy support for electric two-wheelers has come down sharply. Under the extended PM E-Drive framework, the incentive for electric two-wheelers was reduced to ₹2,500 per kWh, capped at ₹5,000 per vehicle, from the earlier ₹5,000 per kWh with a ₹10,000 cap. The scheme remains limited to electric two-wheelers priced up to ₹1.5 lakh.

According to Sharma, the bigger trigger for EV adoption is now fuel-price anxiety. Consumers are anticipating higher fuel prices on account of supply disruption due to West Asia conflict, and that sentiment is beginning to support electric vehicle demand, he said.

“People are anticipating price increases. They want to be free of this fuel cost. Fuel bill is an important budget and that is driving them towards adoption of electric vehicles and that I think will continue.”

He said this shift to EVs has softened the impact of lower subsidy support. “So we expect strong growth in the electric sectors,” Sharma said.

Chetak Portfolio Widens

Bajaj Auto has been expanding its electric scooter portfolio under the Chetak brand. In January, the company launched the Chetak C25, priced at ₹91,399 ex-showroom Bengaluru, with a 2.5 kWh battery and a claimed range of up to 113 km. The model was positioned as a more accessible electric scooter within the Chetak range.

In its Q4 presentation, Bajaj Auto said Chetak delivered its strongest performance, with retail volumes crossing the 1 lakh milestone. The company said the launch of Chetak C25 helped expand the portfolio into a more accessible segment and strengthened its appeal among riders.

The company plans to further expand its electric scooter portfolio in FY27. Sharma said the new products will include changes in “form and features,” indicating that Bajaj Auto may look beyond battery-size upgrades as it builds out the Chetak range. “You are going to see new scooters, but they will all be under the Chetak umbrella,” he added.

Electric three-wheelers also remained a strong growth area for the company. Bajaj Auto said its commercial vehicle momentum was supported by a strong ICE portfolio and a growing electric three-wheeler franchise. The launch of WEGO P9018, described by the company as the largest electric three-wheeler in the industry, further strengthened the portfolio.

CNG Motorcycle Demand

While EVs are gaining traction, Bajaj Auto’s CNG motorcycle bet has seen slower adoption. Sharma said demand for the company’s CNG motorcycle has been affected by a narrowing price gap between petrol and CNG.

“For the last many months now, what has happened is that the arbitrage between CNG and petrol has changed to some extent. The gap has reduced because petrol prices have been sort of fastened and CNG prices in some key states have increased,” he said.

According to Sharma, lower savings have made customers more cautious about shifting to a new fuel technology. Buyers also have to account for a new refuelling behaviour, including using different filling stations from the ones they are familiar with.

“That has been one of the key reasons for the slowdown, or slow adoption of the CNG bike,” Sharma said.

At the product level, however, acceptance remains strong. “We are persisting with it, it is there in the market. At a product level, the acceptance is very good,” he said.

The company will now watch how the fuel-price equation evolves. Sharma said CNG availability, petrol prices and the savings gap will determine the future prospects of the CNG motorcycle.

“Depending on how the arbitrage moves, it will have an impact on the prospects of the CNG bike,” he said.

Bajaj Auto To Introduce New Pulsars, Chetak Variants Ahead of Festive Season

Ketan Thakkar — Wed, 06 May 2026 21:04:50

Bajaj Auto Ltd is preparing a fresh product push in FY27, with new motorcycles in the 125cc-plus segment and additional electric scooter variants under the Chetak brand, as it looks to strengthen its position in premium motorcycles and electric mobility ahead of the festive season.

Rakesh Sharma, Executive Director, Bajaj Auto, said the company will sustain the pace of product interventions in FY27, with the Pulsar range remaining a key focus area. This comes after the Pune-based company refreshed the Pulsar series through eight interventions over the past few months.

“You will see the same rate continuing and we want to accelerate the introductions before the festive season,” Sharma said during a media call, adding that there would be “some good hectic activity” in the coming months.

The product push will be focused on the 125cc-plus motorcycle market, which remains a key priority for the Bajaj Auto. “We will have new products coming in 125 to 250cc segment, we would like to put them in as early as possible, particularly in the Quarter 2, so that we are in time to harness the surge which usually comes in the festive season,” he said.

Further the company is also planning to expand its electric scooter portfolio, but the new models will remain under the Chetak brand. “You are going to see new scooters, but they will all be under the Chetak umbrella,” Sharma said.

He added that the expansion would include changes in “form and features”, indicating that the company may look beyond just battery-size changes as it builds out the Chetak portfolio.

Demand May Moderate

The new product pipeline comes at a time when Bajaj Auto expects the near-term motorcycle industry growth rate to moderate from the strong pace seen in the fourth quarter.

Sharma said April marked an inflection point for the industry after a strong March quarter, as the West Asia crisis began to weigh on supply chains, logistics, consumer sentiment and retail prices.

The motorcycle industry, which was growing at over 20% in Q4, slowed to around 9% in April, according to Sharma. Bajaj Auto expects near-term motorcycle industry growth to settle in the 7-9% range.

However, the slowdown is not uniform across the market. The entry-level segment is likely to face greater pressure, while the premium end continues to hold up better. “As usually happens when the demand environment gets tough, the bottom half suffers a little bit more and the top half sustains itself,” he said.

This works in Bajaj Auto’s favour as the company’s core focus remains the premium and performance motorcycle space, where it sells products under the Pulsar, Dominar, KTM, Husqvarna and Triumph brands. Sharma said the 150cc-plus motorcycle segment is expected to grow at nearly twice the pace of the overall industry.

Electric vehicles are also showing stronger momentum. “Actually, in April, compared to Q4, EV has grown faster. While the ICE segments have slowed down, EV growth has taken off,” Sharma said.

Bajaj Auto Sees Motorcycle Growth Cooling To 7-9% Amid West Asia Shock

Ketan Thakkar — Wed, 06 May 2026 20:47:27

Bajaj Auto Ltd expects near-term motorcycle industry growth to moderate to around 7-9% from the over 20% growth seen in the fourth quarter, as the West Asia conflict starts weighing on supply chains, fuel-linked costs, consumer sentiment and retail prices.

Rakesh Sharma, Executive Director, Bajaj Auto, said April marked an inflection point for the industry after a strong March quarter, as the West Asia crisis led to LPG shortages, supply-chain disruptions, softer consumer sentiment, retail price inflation and outbound logistics complexity, particularly in overseas markets.

“This is slowing down the motorcycle category from the 20%-plus growth it was experiencing in quarter four to what we now think should be 7-9%. We noticed a considerable slowdown in April, and it will probably continue, with the industry performing at this level,” Sharma said.

According to Sharma, while the demand environment is expected to soften, the slowdown is not uniform across the market. The entry-level segment is likely to face greater pressure, while the premium end continues to hold up better.

“As usually happens when the demand environment gets tough, the bottom half suffers a little bit more and the top half sustains itself,” he said.

The company is also getting some support from exports. A weaker rupee is improving export realisations and providing a cushion against inflation.

According to Sharma, fuel prices will be a key monitorable going ahead as they not only drive inflation but also weigh heavily on consumer sentiment. Even a small increase in fuel prices can affect buyer confidence in the motorcycle market, especially at the entry level.

Higher vehicle prices are another pressure point, with raw material inflation, particularly in metals, prompting price increases of around 3-5% across parts of the industry, he said. “What this means is that GST has got reversed to an extent,” he said, adding that the GST rate cut had helped unlock demand in second half of FY26.

Electric vehicles, however, are showing stronger momentum. “In April, compared to Q4, EV has grown faster. While the ICE segments have slowed down, EV growth has taken off,” Sharma said.

In the Q4 FY26, Bajaj Auto sold 11,66,689 two-wheelers, up 24% from the year-ago period. Its commercial vehicle volumes, which largely comprise three-wheelers, rose 28% year-on-year to 2,04,369 units.

The company also reported a strong financial performance in Q4FY26. Standalone revenue from operations rose 32% year-on-year to ₹16,006 crore, while EBITDA increased 36% to ₹3,323 crore. EBITDA margin stood at 20.8%, up 60 basis points from a year earlier. Profit after tax before exceptional items rose 32% to ₹2,709 crore. For FY26, standalone revenue grew 17% to ₹58,732 crore, EBITDA rose 19% to ₹12,019 crore, and PAT before exceptional items increased 18% to ₹9,833 crore.

The broader FY27 industry outlook remains positive but more moderate. According to estimates discussed at the SIAM Looking Ahead Conclave, India’s two-wheeler market is expected to grow 6-8% in FY27, while the three-wheeler market is projected to grow 9-10%.

Hero MotoCorp Flags Near-Term Margin Pressure amid Higher Input Cost

Kiran Murali — Wed, 06 May 2026 15:52:05

India’s leading two-wheeler maker Hero MotoCorp has flagged near-term pressure on its margins as rising commodity, fuel and labour costs push up manufacturing expenses. The automaker’s management said volatility in raw material prices has made the business environment difficult to predict.

According to the company’s Chief Executive Officer Harshavardhan Chitale, commodity headwinds started emerging in March and are expected to weigh on profitability in the short term, even as demand momentum in the domestic two-wheeler market remains stable.

“As FY27 begins, the broader economy is navigating certain short-term uncertainties due to the developments in West Asia. That has impacted the entire industry in terms of commodity costs, the cost of metals, the cost of gas, or in the recent past, we have also seen an increase in certain labour costs,” he said while speaking to investors on Wednesday, post announcing the company’s FY26 earnings.

“While operating momentum remained strong, the industry is currently facing commodity headwinds that began in March. We expect a transitional impact on margins in the short term.”

Hero MotoCorp identified aluminium, steel, rubber and plastics as the key commodities where there is cost inflation, with plastics also getting impacted by elevated crude oil prices. The company said material cost inflation during the January-March quarter stood at around Rs 2,100 per vehicle.

The company has taken calibrated price hikes across products to partly offset the increase in costs. Chitale said the average increase was close to 2% of the sale price, though he acknowledged that the hikes did not fully offset the rise in input costs.

“The price hike, as of now, does not cover the BOM cost increase fully,” the management said, adding that commodity, labour and fuel cost increases were running in the “high single digits” at the bill-of-materials level.

The company noted that it took cost-saving measures, tighter control over discretionary spending and value-engineering programmes aimed at reducing material costs.

“As management, we are doing whatever it takes to really mitigate the impact of that, which includes taking calibrated price increases and also accelerating our BOM-saving programmes,” the company said.

The automaker added that it is also postponing some discretionary spending while continuing to monitor commodity trends closely. “The way things are evolving, it's difficult to really commit at this point in time that how the full year is going to be,” the management said.

The company, however, reiterated its medium-term EBITDA margin guidance of 14-16%, despite the near-term pressure. Hero MotoCorp reported an EBITDA margin of 14.7% for FY26, up 30 basis points from the previous year, supported by a favourable product mix and cost efficiencies.

Management also said investments in electric vehicles are weighing on profitability in the near term as the company expands capacity and introduces new products. However, it added that losses per EV unit are reducing sequentially and profitability is expected to improve with scale benefits, cost reductions and production-linked incentive support. ENDS

Electric Two-Wheeler Sales Dip 22% Month-on-Month in April 2026, Surge 61% Year-on-Year

Angitha Suresh — Wed, 06 May 2026 15:29:22

Electric two-wheeler retail sales in India stood at 1,48,740 units in April 2026, a decline of 22.15% from 1,91,067 units registered in March 2026, according to data released by the Federation of Automobile Dealers Associations (FADA). Despite the monthly drop, sales were up 60.73% compared to April 2025, when 92,538 units were sold. The data, collated on May 3, 2026, covers 1,463 of 1,466 Regional Transport Offices (RTOs) across the country, with Telangana excluded from the current reporting cycle.

The monthly contraction follows a pattern that is well-established in the Indian automobile retail calendar. March, being the final month of the financial year, consistently produces elevated registration numbers as dealers push to clear inventory and consumers accelerate purchase decisions ahead of potential price revisions or policy changes. April, by contrast, marks the start of a new financial year and typically sees demand normalise. The 22% decline observed this April, while significant in absolute terms, should therefore be read alongside the broader year-on-year trend, which points to sustained growth in the segment.

Manufacturer-wise Performance

TVS Motor Company retained its position at the top of the electric two-wheeler market with 37,683 units sold in April 2026, down 23.62% from 49,335 units in March. Despite the monthly softening, the company's year-on-year growth of 88.64% — nearly doubling its April 2025 tally of 19,976 units — reflects the strength of its electric portfolio, anchored by the iQube range, which has steadily expanded across price points and geographies.

Bajaj Auto came in second with 32,898 units, recording a month-on-month decline of 28.90% from 46,272 units in March. Its year-on-year growth stood at 71.68%, building on the rapid market acceptance of the Chetak electric scooter, which the company has aggressively expanded through new variants and a wider dealership network over the past year.

Ather Energy, which has positioned itself as a technology-first brand in the premium electric scooter space, registered 27,034 units in April 2026 — a 24.35% fall from 35,736 units in March, but a 102.78% increase over April 2025's 13,332 units. The company's year-on-year performance, more than doubling its sales, is notable given the competitive pressure it faces from both legacy automakers and newer entrants in the segment.

Hero MotoCorp, the country's largest two-wheeler manufacturer by overall volume, recorded 15,238 electric units in April 2026, a 28.95% month-on-month decline from 21,447 units in March. However, its year-on-year growth of 147.77% — the highest among the major players in this dataset — points to an accelerating ramp-up in its electric business. The company has been expanding its Vida electric scooter lineup and distribution network, and the numbers suggest those efforts are translating into retail traction.

Ola Electric Bucks Monthly Trend, but Trails Year-on-Year

Ola Electric Technologies was the sole manufacturer to post a month-on-month increase in April 2026, selling 12,171 units compared to 10,118 units in March — a rise of 20.29%. However, the company's year-on-year picture presents a contrasting story. Its April 2026 sales were 38.60% lower than the 19,824 units it registered in April 2025, making it the only major brand to report a year-on-year decline. Ola Electric had a strong presence in the market in early 2025, and the erosion in its year-on-year numbers reflects both a high base effect and the intensified competition from incumbent manufacturers that have since scaled their electric offerings.

Smaller Players Post Strong Year-on-Year Gains

Greaves Electric Mobility, which markets vehicles under the Ampere brand, sold 6,884 units in April 2026, down 13.57% from 7,965 units in March, but up 71.97% year-on-year from 4,003 units in April 2025. River Mobility, a relatively newer player, posted 3,199 units — a 22.90% monthly decline but a 301.88% year-on-year surge from just 796 units in April 2025, indicating rapid scaling from a low base. BGauss Auto registered 3,066 units, declining 16.68% from the previous month but growing 133.51% over April 2025's 1,313 units. The "Others" category, which aggregates the remaining manufacturers, contributed 10,567 units, down 14.54% month-on-month but up 32.39% year-on-year.

The aggregate market share of electric two-wheelers as a proportion of total two-wheeler retail stood at 7.8% in April 2026. This compares to 9.8% in March 2026 and 5.5% in April 2025. The sequential dip in penetration rate from March to April is largely a reflection of the post-financial-year-end normalisation in the overall two-wheeler market rather than a structural reversal. The year-on-year expansion of 230 basis points in electric market share over twelve months indicates that the segment continues to gain ground within the broader two-wheeler industry, albeit at a pace that remains sensitive to seasonal demand patterns, charging infrastructure availability, and government incentive frameworks.

The Union government's EMPS (Electric Mobility Promotion Scheme) and state-level subsidies across several markets have been among the key demand levers for the segment. Any revision to these schemes is closely watched by both manufacturers and dealers, as subsidy changes have historically led to demand concentration in specific months — a dynamic that can amplify month-on-month volatility in retail data.

FADA collects retail registration data directly from RTOs to provide a demand-side view of vehicle sales, as distinct from wholesale dispatch numbers reported by manufacturers to the Society of Indian Automobile Manufacturers (SIAM). The RTO-based methodology is considered a more accurate reflection of actual consumer purchases and is widely referenced by industry analysts and investors tracking the electric vehicle transition in India's two-wheeler market.

Hero MotoCorp Lines Up ₹1,500 cr Capex for FY27, to Double EV Capacity

Autocar Professional Bureau — Wed, 06 May 2026 11:54:28

Hero MotoCorp is stepping up its investments with a planned capital expenditure of over ₹1,500 crore during financial year 2027, as India’s largest two-wheeler maker expands its manufacturing capacity in electric vehicles and high-growth scooter segments, as well as prepares for new product launches.

“This capital expenditure is going to expand our capacity in scooters, where some of our models are doing very well. We are doubling our capacity,” the automaker’s management said in a post-earnings call on Wednesday.

Autocar Professional had exclusively reported that Hero MotoCorp is planning to double its manufacturing capacity of electric two-wheelers at its Sri City (Chittoor, Andhra Pradesh) plant, with plans for multiple new electric two-wheeler models under the Vida brand.

“We are investing in capacity expansion. In EVs, in fact, in a matter of a month, we will double our capacity from where we started last year, and then further down the road, there will be further doubling of capacity as we are seeing great momentum for our Vida brand,” the management said.

The investment follows strong earnings in financial year 2026, during which the company reported record revenue and profit. The focus now is shifting towards segments where growth is accelerating, particularly electric and ICE scooters.

Hero MotoCorp has already increased the capacity of its Destiny scooter by 50%, while it will be doubling the capacity of its ICE scooter model – Zoom. “For EVs, we are close to completing the expansion and will reach 50% more capacity than last quarter within a month. Capacity will increase further in the following months,” the management noted.

At the centre of Hero’s FY27 capex plan is a rapid scale-up of its EV business under the Vida brand. Hero’s EV scooter volumes grew 2.5x in FY26, albeit on a lower base, indicating early traction in the segment. The company has recently ramped up its EV manufacturing capacity to 25,000 units per month from 15,000 units, and is now preparing for further expansion as demand builds.

This higher focus reflects broader industry trends. While the two-wheeler market grew around 10% in FY26 to cross 21 million units, electric two-wheelers expanded at over 20% from a low base, taking penetration to roughly 6–7%. Penetration is expected to rise further to 8–10% in FY27, supported by improving cost economics, fleet demand, and wider participation from established OEMs.

Alongside EVs, Hero is also expanding capacity in its ICE scooter portfolio, particularly for models seeing strong demand. This aligns with FY26 performance, where scooter volumes grew 48% year-on-year.

The ₹1,500 crore outlay spans multiple areas beyond capacity expansion. The company is preparing a pipeline of new launches across EVs, premium motorcycles, and scooters, while continuing to invest in brand building and digital technologies.

Hero is also investing in connected vehicle platforms, GenAI-led customer interfaces, and low-emission powertrains, including flex-fuel options. In parallel, it will invest over ₹700 crore to set up a second global PATH (parts, accessories, and merchandising) centre in southern India to strengthen its accessories and aftermarket business.

Hero Motocorp Expects High Single-digit Growth for 2-wheeler Industry in Fy27

Autocar Professional Bureau — Wed, 06 May 2026 11:16:58

Hero MotoCorp expects growth in India’s two-wheeler industry to moderate to high single digits in the financial year 2027 after a double-digit expansion last year, with scooters continuing to outpace motorcycles. The company aims to grow faster than the broader market and is ramping up scooter manufacturing capacity amid rising demand in the segment.

“The industry growth in FY27 is expected to be in high single-digits. It will be a combination of growth, both in motorcycles and scooters. Having said that, we do expect scooters to grow a couple of points more than motorcycles,” Hero MotoCorp’s management said in a post-earnings call on Wednesday.

During the financial year 2026, India’s two-wheeler industry volume grew 26.4% on year to 21.71 million units. The GST cut in the mid of last year boosted the demand and helped the segment volume to cross the pre-pandemic high. Motorcycle volumes rose 6.6% to 13.06 million units, while the scooter segment grew at 18.5% to 8.12 million units.

The market continues to see healthy demand momentum despite rising inflationary pressures amid the war in West Asia. The management noted that retail trends have remained stable with demand in April and early May resilient, even as concerns persist around the potential impact of the West Asia conflict on fuel prices and consumer sentiment.

They said there has been no meaningful impact on volumes so far, as fuel prices have largely remained stable, although companies continue to closely monitor the evolving situation. The management indicated that the demand outlook could change if inflationary pressures sustain or fuel prices rise materially in the coming months.

“With the urbanisation, increasing penetration of e-commerce and gig economy, two wheelers remain a primary source of mobility for the bulk of the country... that structural momentum is still there and hence the industry's bullishness towards this volume growth,” the management said.

Meanwhile, Hero MotoCorp expects to outpace the broader market growth with a slew of product updates planned for this year. Last year, the automaker introduced nine products and multiple refreshes, which the company says helped them fill “critical white spaces” in both motorcycle and scooter portfolios.

Hero retained its position as the country’s largest two-wheeler manufacturer last year amid tight competition from Honda. Demand in the entry motorcycle segment improved during the year, supported by GST-led affordability, with the Hero Splendor contributing to volume recovery. However, competitive pressures have increased, particularly in scooters, where TVS Motor and Suzuki Motorcycle India have gained share.

The management indicated an aggressive product offensive going forward across internal combustion and electric vehicle segments, with launches planned across scooters, commuter motorcycles and premium motorcycles in line with the market trend.

To support the demand, Hero MotoCorp is stepping up its investments with a planned capital expenditure of over Rs 1,500 crore in the financial year 2027. This will primarily be used to expand its manufacturing capacity in EVs and high-growth scooter segments, as well as prepare for new product launches.

In scooters, the company has already increased production capacity for the Destiny scooter by 50% and is in the process of doubling capacity for the Xoom range. On electric vehicles, the automaker is close to completing a capacity expansion that would raise EV manufacturing capacity by 50% over the previous quarter within a month, with plans to double by the end of this year.

With inputs from Ketan Thakkar

TVS Motor Expands iQube Lineup With New 4.7kwh S Variant

Autocar Professional Bureau — Wed, 06 May 2026 10:59:49

TVS Motor Company has expanded its electric scooter portfolio with the launch of the new TVS iQube S 4.7kWh variant in India. The company has priced the scooter at INR 1,37,142 (effective ex-showroom Delhi, including central and state subsidies).

The new variant adds a larger 4.7kWh battery pack to the existing iQube S lineup and claims an IDC-certified range of 175km on a single charge. According to the company, the updated battery configuration is intended to cater to both daily commuting requirements and longer rides.

TVS Motor has also introduced two new dual-tone colour options — Magnificence Purple Beige and Harlequin Blue Beige — alongside Titanium Grey Matte. The company said the variant retains the existing riding characteristics of the iQube platform while offering increased battery capacity.

Commenting on the launch, the company said the iQube range continues to focus on offering customers multiple choices in range, connected features and colour options, while also emphasising ease of ownership and everyday usability.

The iQube electric scooter range is currently available through more than 3,300 dealerships across over 1,000 cities in India, according to the company.

Two-wheeler Retails Cross 1.9 Million Units in April, Grow 13% YoY

Autocar Professional Bureau — Tue, 05 May 2026 09:29:42

According to data released by the Federation of Automobile Dealers Associations (FADA), two-wheeler retail sales in April 2026 stood at 19,16,258 units, registering a 13.01% year-on-year increase and marking the highest-ever April performance for the segment.

On a sequential basis, sales declined 1.78% compared to March 2026, which FADA attributes to the typical post-financial-year seasonal reset rather than any structural weakness in demand.

Demand remained geographically broad-based. Urban markets grew 14.07% YoY, while rural markets recorded a 12.30% increase, reflecting continued traction in both commuter and entry-level segments. The growth was supported by improved rural cash flows following a healthy rabi harvest, as well as demand linked to the ongoing marriage season.

Fuel-wise, petrol/ethanol-powered vehicles continued to dominate the segment with a 92.17% share, while electric vehicles accounted for 7.76% of total sales in April. The EV share declined from 9.79% in March, largely due to pre-buying ahead of incentive changes, but remained above the FY’26 average of approximately 6.5%, indicating steady underlying adoption.

Dealer feedback highlighted that supply constraints in select commuter and premium variants slightly capped volumes during the month.

Looking ahead, demand is expected to remain supported by rural sentiment, agri-cycle purchases ahead of the Kharif sowing season, and continued affordability benefits.