TVS Maintains Lead, Bajaj and Ola Close Behind as India’s EV Market Matures
India’s electric two-wheeler market continued its robust upward trajectory in May 2025, signaling a maturing industry driven by consumer demand, supportive government policies, and growing infrastructure. This month’s sales figures reflect strong competition among both legacy manufacturers and EV-first startups, with significant implications for the rest of the year.
📊 Overall Market Performance
In May 2025 alone, over 100,000 electric two-wheelers were sold, a testament to the increasing consumer acceptance of electric mobility. While environmental concerns and high fuel prices continue to push adoption, manufacturers are responding with improved technology, competitive pricing, and better after-sales service.
The market shares reveal an intense battle among the top players, particularly TVS Motor Company, Bajaj Auto, and Ola Electric.
🥇 Top 10 Electric Two-Wheeler Makers – May 2025
| Rank |
Manufacturer |
May Sales |
Market Share |
CY 2025 Sales |
| 1 |
TVS Motor Company Ltd |
24,562 |
24.49% |
1,18,234 |
| 2 |
Bajaj Auto Ltd |
21,770 |
21.71% |
1,19,153 |
| 3 |
Ola Electric Technologies Pvt Ltd |
18,499 |
18.44% |
94,927 |
| 4 |
Ather Energy Ltd |
12,841 |
12.80% |
66,866 |
| 5 |
Hero MotoCorp Ltd |
7,165 |
7.14% |
25,675 |
| 6 |
Greaves Electric Mobility Pvt Ltd |
4,177 |
4.16% |
21,144 |
| 7 |
PUR Energy Pvt Ltd |
1,270 |
1.26% |
7,741 |
| 8 |
E-Sprinto Green Energy Pvt Ltd |
1,149 |
1.14% |
2,160 |
| 9 |
Kinetic Green Energy & Power Solutions Ltd |
1,128 |
1.12% |
4,850 |
| 10 |
Bgauss Auto Private Limited |
1,066 |
1.06% |
7,640 |
🔍 In-Depth Brand Performance
1. TVS Motor Company Ltd
TVS held the top spot in May with 24,562 units sold, capturing 24.49% of the market. With a consistent year-to-date performance of 1.18 lakh units, TVS has positioned itself as a formidable leader in the segment. The company’s focus on technology, battery performance, and customer experience appears to be paying off.
2. Bajaj Auto Ltd
Just behind TVS is Bajaj, selling 21,770 units this month and leading in cumulative sales for the year at 1.19 lakh units. Bajaj’s Chetak EV continues to perform well in urban markets, and recent dealership expansions have improved availability across Tier-2 and Tier-3 cities.
3. Ola Electric Technologies
Ola, which revolutionized the market with its direct-to-consumer approach, sold 18,499 units in May, securing an 18.44% market share. Despite production hurdles earlier in the year, Ola is rapidly recovering with new launches and an expanding service network.
4. Ather Energy Ltd
With 12,841 units sold, Ather captured 12.80% of the market. Known for its sporty performance and smart features, Ather has carved out a niche in the premium electric scooter space. Its expansion into smaller cities is expected to boost future numbers.
5. Hero MotoCorp
Hero MotoCorp, a late entrant compared to others, sold 7,165 units in May. With a share of 7.14%, Hero’s electric strategy is now taking shape through strategic collaborations and product launches under the VIDA brand.
📈 Emerging Players to Watch
While the top 5 dominate the charts, smaller players are quietly building momentum:
- Greaves Electric Mobility saw 4,177 units sold, continuing to perform well in the budget and delivery segment.
- PUR Energy, E-Sprinto, and Kinetic Green are expanding their footprints in rural and semi-urban areas, targeting affordability and utility.
- Bgauss Auto is focused on stylish urban commuters and is gradually growing in volume with 1,066 units sold in May.
🌍 Industry Trends and Outlook
✅ Key Drivers
- Government Incentives: FAME II subsidies, state-level support, and reduced GST continue to benefit both buyers and manufacturers.
- Rising Fuel Prices: EVs offer significant savings on running costs.
- Consumer Awareness: With better education about EVs and improved range anxiety solutions, adoption is accelerating.
- Charging Infrastructure: Growing network of fast chargers is reducing operational limitations.
🚧 Challenges
- Battery costs and raw material supply chains are still volatile.
- Some players are struggling with after-sales service and product reliability.
- Rural acceptance remains lower due to lack of charging infra and awareness.
🔮 What Lies Ahead?
With half the year still to go, the race for dominance in India’s electric two-wheeler market is heating up. TVS, Bajaj, and Ola are in a tight contest, and newcomers are steadily building market presence.
By the end of 2025, India could witness record-breaking EV two-wheeler sales, potentially exceeding 1.5 million units, transforming the country’s personal mobility landscape for good.
If you are an EV manufacturer (or) EV Dealer (or) EV Supporter who wants to share news related to Electric vehicles on our website, please send an email to crm@electricvehicles.in
For the latest Electric vehicles news,
follow electricvehicles.in on
Twitter, Instagram,Facebook
and our YouTube Channels
English, Hindi,Telugu ,
Bangla , Kannada , Tamil
Post Views:
203
