Ola Electric sales halve in 2025 as TVS, Bajaj and Ather gain ground in India’s EV two-wheeler market

India’s electric two-wheeler market recorded steady growth in 2025, but the year delivered sharply contrasting outcomes for leading manufacturers, according to annual retail sales data released by the Federation of Automobile Dealers Associations (FADA).

Ola Electric, once the dominant force in the segment, saw its retail volumes fall sharply during the calendar year. The Bengaluru-based company sold 1,99,318 electric two-wheelers in 2025, marking a decline of over 51% compared with the 4,07,700 units it retailed in 2024. Despite the steep drop, Ola Electric remained among the country’s top five electric two-wheeler sellers.

The slowdown created space for rivals to strengthen their positions. Ather Energy emerged as the third-largest electric two-wheeler manufacturer in 2025, recording retail sales of 2,00,797 units. This represented a year-on-year growth of 58.1%, driven by demand for models such as the Rizta and the 450 series of electric scooters.

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TVS Motor Company retained its leadership in the segment, selling 2,98,881 electric two-wheelers during the year. This was a 35.35% increase over its 2024 volumes. TVS currently sells the iQube and Orbiter electric scooters in India, with ex-showroom prices starting below ₹1 lakh.

Bajaj Auto secured the second position, retailing 2,69,847 electric two-wheelers in 2025, a rise of nearly 39% from the previous year. The company’s electric portfolio is anchored by the Chetak scooter, which continues to see strong demand across urban markets.

Hero MotoCorp posted the fastest growth among the top five players. The company sold 1,09,168 electric two-wheelers under its Vida brand in 2025, more than doubling its sales compared with the previous year. Hero’s electric lineup includes the Vida VX2 and V2 models, positioned across different price points.

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At the industry level, India’s electric two-wheeler retail sales reached 12,79,951 units in calendar year 2025, reflecting an annual growth of 11.36% over 2024. While the segment continued to expand, the data highlights increasing competition and shifting market leadership within India’s fast-evolving EV ecosystem.