India’s EV market hit 1,04,056 electric two-wheeler sales in September 2025. TVS, Bajaj, and Ather led the chart, while Ola slipped and Hero declined. See the full Top 10 OEM sales, MoM growth, and market share insights.
According to Vahan Data, retail sales touched 1,04,056 units in September 2025, holding steady compared to August’s 1,03,802 units.
Despite ups and downs across individual brands, the overall YoY performance remains strong, and competition at the top is intensifying.
The top three OEMs—TVS Motors, Bajaj Auto, and Ather Energy collectively contributed nearly 58% of total EV sales this month, underscoring their market dominance.
TVS Motors led the pack with 22,481 units in September, marking a 7.41% month-on-month (MoM) decline from 24,087 units in August.
Bajaj Auto rebounded strongly to the second position with 19,519 units, registering a sharp 65.11% MoM growth from August’s 11,730 units.
Ather Energy followed with 18,109 units, showing flat sales compared to August’s 17,856 units.
Ola Electric slipped to fourth with 13,371 units, a 29.50% MoM decline from 18,972 in August.
This reshuffling highlights shifting consumer preferences and growing competition among both legacy players and EV startups.
| Manufacturer | August 2025 Sales | September 2025 Sales | MoM Growth (%) |
|---|---|---|---|
| TVS Motor Co | 24,087 | 22,481 | -7.41% |
| Bajaj Auto | 11,730 | 19,519 | +65.11% |
| Ather Energy | 17,856 | 18,109 | +1.42% |
| Ola Electric | 18,972 | 13,371 | -29.50% |
| Hero MotoCorp | 13,313 | 12,736 | -4.34% |
| Greaves Electric Mobility | 4,498 | 4,271 | -5.05% |
| BGAUSS Auto | 1,720 | 2,270 | +32.0% |
| Pure Energy | 1,779 | 1,762 | -0.96% |
| River Mobility | 1,657 | 1,682 | +1.51% |
| Kinetic Green Energy | 1,513 | 1,084 | -28.4% |
Data Source: Vahan Dashboard (Govt. Portal)
TVS Motors held on to its leadership spot in September with 22,481 units sold, despite slipping from August’s 24,087 (-7.41% MoM). With a 21.6% market share, the TVS iQube retains its crown as India’s best-selling electric scooter.
TVS continues to push the envelope on product innovation.
Earlier in 2025, it launched a new 3.1 kWh variant of the iQube, positioned between its 2.2 kWh and 3.5 kWh options, priced around ₹1.05 lakh (ex-showroom).
In addition, the iQube ST version with a 5.3 kWh battery delivering up to 212 km IDC range has also been rolled out, along with updates such as hill-hold assist and improved variant features.
These newer variants are helping TVS address the spectrum of consumer needs—balancing between range, price, and usability.
However, supply constraints may have limited full throughput in September, which could have capped its sales upside.
Bajaj made a spectacular recovery in September, delivering 19,519 units, equating to a robust +65.11% MoM growth from August. This resurgence pushed Bajaj to the No. 2 slot, with an 18.76% market share for the month.
A key catalyst was the ramp-up in availability of its Chetak line.
After earlier disruptions caused by rare-earth magnet shortages, Bajaj resumed full-scale deliveries across dealerships.
Also, Bajaj has expanded its product portfolio with an entry-level Chetak 3001 variant, priced at ₹99,990, to appeal to more budget-conscious buyers.
This dual strategy—resolving supply constraints and widening its product reach—helped Bajaj reclaim momentum in the EV two-wheeler race.
Ather Energy sold 18,109 units in September, nearly steady from 17,856 units in August, holding its ground in a volatile market. Its 17.40% market share allowed it to firmly overtake Ola Electric this month.
Beyond sales, Ather has been active on the corporate front: it recently issued ESOPs worth ₹71 crore to employees and senior leadership, underlining its push to retain and motivate talent as it scales.
Ather’s consistent performance in the premium EV segment, along with strong brand perception and expanding touchpoints beyond South India, is helping it close the gap with Bajaj and remain competitive.
In September, Ola Electric slipped to 4th place with 13,371 units sold, falling nearly 30% MoM from August figures.
Its market share dipped to 12.85%, reflecting intensifying pressure from competitors.
Ola has been grappling with service and registration challenges amid growing competition, which analysts believe contributed to the decline.
The drop signals the critical importance of after-sales support and network strength in this maturing EV market.
Hero MotoCorp fell to 5th with 12,736 units, a 4.34% MoM decline from August.
Its 12.24% market share underscores how difficult it is to maintain momentum in this space.
While Hero’s strong legacy in gasoline two-wheelers gives it scale and dealer reach, EVs demand a different focus on battery tech, software, charging networks, and customer support are decisive. Hero will need to double down on these to regain upward traction.
Greaves registered 4,271 units in September (down from 4,498 in August, ≈ –5.05% MoM).
Holding a 4.1% market share, it remains a player primarily in more affordable EV segments, especially in Tier-2 and Tier-3 cities.
Its strategy of targeting value-focused consumers helps it weather volatility at the top, though scaling up sustainably remains a challenge.
BGAUSS posted 2,270 units, an impressive 32% MoM growth, helping it climb one rank this month.
The brand is gaining traction in urban centres with its compact, design-forward electric scooters positioned to appeal to city commuters who want style as well as utility.
As competition intensifies, BGAUSS’s brand strength and customer experience will be key differentiators.
Pure EV sold 1,762 units, a minor dip (–0.96%) from August.
Holding around 1.69% market share, it remains relatively stable amid broader market swings.
The company continues to focus on bridging the affordability–feature gap, and its success in maintaining continuity is notable in a high-variance environment.
River Mobility delivered 1,682 units (≈ +1.51% MoM).
As a newer entrant, it is gradually establishing its footprint in metro markets with compact, city-oriented EV models.
Its modest but positive growth suggests it’s successfully navigating initial scale-up challenges and building brand presence.
Kinetic Green reported 1,084 units, but that marks a steep 28.4% MoM decline from August.
Despite the drop, Kinetic continues to focus on semi-urban and rural markets, where affordability, dealer reach, and after-sales support can help it remain relevant even in tough months.
September 2025 showcased another dynamic month for India’s EV market. TVS retained leadership, while Bajaj made a strong comeback, and Ather overtook Ola.
On the other hand, Ola Electric and Hero MotoCorp both saw declines, underlining the volatility of this competitive market.
As the festive season draws near, with multiple launches in the pipeline, the electric two-wheeler leaderboard is expected to see even more reshuffling.
Disclaimer: The sales figures presented above are based on registrations recorded in the Vahan Dashboard (Government of India portal) for September 2025. Actual retail numbers may vary slightly due to differences in reporting timelines, states not integrated with Vahan, and subsequent updates in the database.
This post was last modified on October 2, 2025 6:10 pm
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