Electric Two-wheeler Sales Data in March 2025 – Top 10 Companies

The Indian electric two-wheeler segment will continue its growth even at the end of the financial year 2024-25, which will see significant changes in market leadership.

The segment also showed significant growth in the last month of March, reflecting the increasing adoption of EVs, the changing needs of consumers, and the tough competition in the segment.

Notably, sales increased significantly in the new month, which was also a strong month for major EV manufacturers.

According to Vahan data, electric two-wheeler retail sales in March 2025 were 1,30,274 units.

Sales Overview

Bajaj Auto continues to lead the Electric 2W market at the end of the financial year, recording a sales figure of 34,863 units in March 2025.

TVS Motors holds the second position with a sales figure of 30,454 units, followed by Ola Electric at the third position with 23,430 units.

Ather Energy secures the fourth position with a sales figure of 15,446 units, while Hero Motocorp secures the fifth position with a sales figure of 7,977 units.

Bajaj Auto led the Electric 2W sales in February 2025 as well, followed closely by TVS Motors and Ather Energy, surpassing Ola Electric, which had been the market leader for a long time.

This shift in market dynamics reflects an evolving customer preference for brands, which are fueled by reliability, better service and affordable pricing.

Combined Dominance

The Top Four Electric Two-Wheeler Manufacturers- Bajaj Auto, TVS Motors, Ola Electric and Ather Energy, were engaged in an intense competition and together accounted for more than 80% of the total 1,30,274 electric two-wheelers sold in March all combined, representing their dominance in the rapidly growing Indian electric two-wheeler market.

Electric Two-wheeler Sales Data in March 2025

Let’s look closer at the top 10 Original Equipment Manufacturers (OEMs) in the Electric 2W Industry for March 2025.

EV Manufacturer	March 2025	Feb 2025	March 2024	Y-O-Y Growth	M-O-M Growth	Market Share (%)
BAJAJ AUTO	34,863	21,537	18,089	93%	62%	29.59%
TVS MOTOR	30,454	18,911	26,645	14%	61%	25.85%
OLA ELECTRIC	23,430	8,653	53,646	−56%	171%	19.89%
ATHER ENERGY	15,446	11,944	17,429	−11%	29%	13.11%
HERO MOTOCORP	7,977	2,692	4,085	95%	196%	6.77%
GREAVES ELECTRIC	5,641	3,703	3,010	87%	52%	4.79%

#1 Bajaj Auto

Bajaj Auto continued to maintain its first position in the electric 2W market leader board in March 2025.

The brand recorded a substantial increase in sales, with figures rising to 34,863 units compared to 21,537 units in February 2025, representing a substantial month-on-month growth of 62%.

Bajaj Auto achieved remarkable sales figures at the end of the financial year, solidifying its position as market leader whilst achieving its best-ever monthly sales in the month of March.

Bajaj Chetak was one of the best-selling electric scooters in the country, which helped Bajaj Auto secure a market share of 29.59%

#2, TVS Motors

In a surprising turn of events, TVS Motors failed to surpass Bajaj Auto by 4409 units and continued to retain the second position in March 2025, with a sales figure of 30,454 units.

TVS also achieved remarkable sales figures at the end of the financial year, reflecting the brand’s growing prominence in the segment.

TVS iQube was also amongst one of the best-selling electric scooters in the country during the month, which helped the brand record a month-on-month growth of 61%, securing a market share of 25.85%.

#3 Ola Electric

Ola Electric, the previous longstanding E2W leader, continued to retain the third position, losing its market leadership to Bajaj Auto and TVS Motors in March 2025.

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 increase in retail sales, with sales figures rising to 23,430 units compared to 8,653 units in February 2025.

This increase resulted in an impressive month-over-month growth of 171%, increasing Ola’s substantial market share to 19.89%.

#4 Ather Energy

Ather Energy continued to maintain the fourth spot on the market leader board, recording its second-highest monthly sales in March 2025.

The brand recorded a sales figure of 15,446 units, an increase from the 11,944 units sold in February 2025. This increase represents a month-on-month growth of 29% and a market share of 13.11%.

#5 Hero MotoCorp

Hero MotoCorp jumped up to the 5th position in March 2025, with sales of 7,977 electric two-wheelers, an increase from 2,692 units sold in February 2025.

This reflects a substantial month-on-month increase of 196%. However, Hero MotoCorp holds a market share of only 6.77% this month.

#6 Greaves Electric Mobility

Greaves Electric slipped to the 6th position in the leaderboard in March 2025.

The brand reported sales of 5,641 units, a rise from the 3,703 units sold in February 2025. This represents an increase in month-on-month growth by 52.34%, and its market share holding currently stands at 4.79%.

#7 Bgauss Auto

Bgauss Auto moved up to the 7th position on the leaderboard in March.

It recorded total sales of 2,591 electric two-wheelers, an increase from 1,218 units sold in February 2025. This reflects a month-on-month increase of 112.73%.

#8 Pur Energy

Pur Energy slipped down to the 8th position on the market leader board in March.

In terms of sales, it recorded a figure of 1,805 electric two-wheelers, an increase from 1,566 units sold in February 2025. This reflects a month-on-month increase of 15.26%.

#9 Revolt Intellicorp

Revolt Intellicorp moved up a position in the leader board and secured the 9th position in March.

In terms of sales, it recorded a sales figure of 1,395 units, an increase from the 760 units sold in February 2025. This represents a month-on-month growth of 83.55%

#10 Kinetic Green Energy

Kinetic Green Energy slipped down a position and secured the last position in the market leader board.

The brand recorded a sales figure of 842 electric scooters in March, a slight increase from the 765 units sold in February 2025. This increase resulted in a month-on-month growth of 10.06%.

Final Thoughts

March 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 in the country.

The electric two-wheeler market witnessed a fierce contest at the end of the financial year, with Bajaj Auto retaining it’s market leadership, whilst TVS Motors and Ola Electric battled closely behind for the lead.

The Sales data for Electric 2Ws in the month of March reflects a competitive as well as an evolving market in the country.

Once dominated by Ola Electric, the electric two-wheeler industry experienced a shift in market dynamics, with legacy players like Bajaj Auto and TVS Motors now leading the way.

This signifies that legacy automakers like TVS and Bajaj are making strong advancements in the segment, challenging newer brands with a potentially tighter fight in the upcoming months.