The Indian Electric Two Wheeler segment continues its upward trajectory in April. Kicking off the financial year 2025-26 on a strong note, it recorded the best-ever sales for the first month, showcasing growth as well as significant shifts in market leadership.
Electric two-wheeler retail sales in April 2025 recorded 91,791 units, according to Vahan Data.
The top three electric two-wheeler manufacturers- Ola Electric, TVS and Bajaj Auto, battled closely for the top spot on the market leaderboard in April 2025.
The segment witnessed notable growth and shift in market dynamics in April 2025, reflecting the increasing adoption of EVs as well as the changing consumer needs and fierce competition in the segment.
TVS Motors leads the Electric 2W market in April, the first month of FY 2025-26 with a sales figure of 19,736 units.
Ola Electric is in second place with a sales figure of 19,709 units, closely followed by Bajaj Auto in third place with 19,001 units.
Ather Energy holds the fourth position with a sales figure of 13,167 units while Hero Motocorp secured the fifth position with a sales of 6,123 units.
In March 2025 EV Sales, Bajaj Auto led the E2W sales followed closely by TVS Motors, surpassing Ola Electric, which had been the market leader for the longest time, followed by Ather Energy and Hero Motocorp.
This shift in market dynamics reflects an evolving customer preference for brands, which are fueled by reliability, better service and affordable pricing.
The Top Four electric two-wheeler manufacturers- TVS Motors, Ola Electric, Bajaj Auto and Ather Energy, were engaged in an intense conflict for the top spot on the market leaderboard in April 2025 and together accounted for more than 78% of the total electric two-wheelers sold in April all combined, representing their dominance in the rapidly growing Indian electric two-wheeler market.
Such a massive combined market share highlights the steady growth of key players whilst representing challenges for new and upcoming players.
Now, let’s take a closer look at the top 10 Original Equipment Manufacturers (OEMs) in the Electric 2W Industry for April 2025.
| EV Manufacturer | March 2025 Units | April 2025 Units | M-o-M Growth (%) | Market Share April 2025 |
| TVS MOTOR CO | 30,454 | 19,736 | -35.20% | 22% |
| OLA ELECTRIC | 23,430 | 19,709 | -15.90% | 21% |
| BAJAJ AUTO | 34,863 | 19,001 | -45.50% | 21% |
| ATHER ENERGY | 15,446 | 13,167 | -14.70% | 14% |
| HERO MOTOCORP | 7,977 | 6,123 | -23.30% | 7% |
| GREAVES ELECTRIC MOBILITY | 5,641 | 4,000 | -29.10% | 4% |
Data Source: Vahan Dashboard
TVS Motors, the longstanding No. 2 brand, finally claimed the top position in the electric 2W market leaderboard in April 2025.
TVS Motors finally surpassed both Ola Electric and Bajaj Auto and secured the top position in April 2025, with a sales figure of 19,736 units.
The company reported a substantial decrease in retail sales, with sales figures falling to 19,736 units compared to 30,454 units in March 2025. This decrease resulted in a month-over-month growth of -35.20%.
However, TVS achieved notable sales figures compared to others at the start of the financial year, reflecting the brand’s growing prominence in the segment.
TVS iQube was amongst the best-selling electric scooters in the country during the month, which helped the brand secure a market share of 22%.
As Ola struggled with unresolved concerns, legacy brands like TVS and Bajaj have taken advantage of the situation and worked on increasing their sales, market share, etc.
The company reported a substantial decrease in retail sales, with sales figures falling to 19,709 units compared to 23,430 units in March 2025.
This decrease resulted in a month-over-month growth of -15.90%, leading the brand to secure a market share of 21%.
The brand recorded a substantial decrease in sales, with figures falling to 19,001 units compared to 34,863 units in March 2025, representing a negative month-on-month growth of -45.50%.
Despite the decline in sales, Bajaj Chetak remained among one of the best-selling electric scooters in the country, which helped Bajaj Auto secure a market share of 21%
Ather Energy continued to maintain the fourth spot on the market leader board in April 2025 as well.
The brand recorded a sales figure of 13,167 units, a decrease from the 15,446 units sold in March 2025. This decrease represents a month-on-month growth of -14.70% and a market share of 14%.
Hero MotoCorp continued to maintain the 5th position in April 2025, with a sales of 6,123 electric two-wheelers, a decrease from 7,977 units sold in March 2025.
This reflects a month-on-month growth of -23.30%. However, Hero MotoCorp holds a market share of only 7% this month.
Greaves Electric continued to hold the 6th position in the leader board in April 2025 as well.
The brand reported a sales of 4,000 units, a rise from the 5,641 units sold in March 2025. This represents a decrease in month-on-month growth by -29.10% and its market share holding currently stands at 4%.
Pur Energy moved up to the 7th position on the leader board in April 2025.
The brand recorded total sales of 1,449 electric two-wheelers, a decrease from 1,805 units sold in March 2025. This reflects a month-on-month increase of -19.72%.
Bgauss Auto slipped down to the 8th position on the market leader board in April.
In terms of retail figures, it recorded a sales of 1,311 electric two-wheelers, a decrease from 2,591 units sold in March 2025. This reflects a month-on-month decrease of -49%.
Kinetic Green Energy moved up a position in the leader board and secured the 9th position in April 2025.
In terms of sales, the brand recorded a sales figure of 1,306 electric scooters in April, a slight increase from the 842 units sold in March 2025. This reflects a month-on-month increase of 55.11%
River Mobility finally made it to the Top 10 leaderboard this month, securing the last position in April 2025 with a sales figure of 785 units.
April 2025 turned out to be an electrifying month for the Electric 2W industry with the overall retail sales of electric two-wheelers witnessing a significant surge over the past year.
The electric two-wheeler market witnessed a fierce contest at the start of the financial year, with TVS Motors gaining market leadership, whilst Ola Electric and Bajaj Auto battled closely behind for the lead.
The Top Four electric two-wheeler manufacturers- TVS Motors, Ola Electric, Bajaj Auto, Ather Energy and others experienced negative month-on-month growth in April 2025 compared to their March figures. This reflects the usual market-wide slowdown following the financial year-end in March.
Notably, the new month brought a significant increase in sales YoY, marking a strong month for major EV manufacturers and setting the stage for an eventful year.
As the financial year advances, it will be important to observe how market dynamics shift, how the emerging players will challenge the existing landscape, and how it will influence the future of electric mobility in the country.
The Sales data for Electric 2Ws in the month of April reflects a competitive as well as an evolving market in the country.
It signifies that established automakers like Ola, TVS, Bajaj and Ather are making strong advancements in the segment, challenging newer brands with a potentially tighter fight in the upcoming months.
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