TVS overtakes Ola Electric to become India’s top electric two-wheeler maker in CY25

TVS Motor has overtaken Ola Electric to emerge as India’s largest electric two-wheeler manufacturer for the first time in the last calendar year.

Industry sales of electric two-wheelers rose 11.4 per cent year-on-year to 1,279,951 units in CY25, while electric passenger vehicle sales surged 77 per cent to 176,817 units on a smaller base, according to a report by The Economic Times. The sharp rise in electric car sales was supported by new model launches from JSW MG Motor, Mahindra & Mahindra and Hyundai Motor India, the report stated.

TVS recorded a 35 per cent increase in electric two-wheeler sales to 298,881 units during the year, significantly outpacing Ola Electric, which sold 199,318 units and slipped to fourth position. Data collated from the government’s Vahan portal by the Federation of Automobile Dealers Associations showed that Ola’s electric two-wheeler sales declined 51 per cent from 400,707 units in the previous year.

Bajaj Auto and Ather Energy secured the second and third positions, reporting electric two-wheeler sales of 269,847 units and 200,797 units, respectively, according to the FADA data.

The penetration of electric models in the overall two-wheeler market edged up marginally to 6.3 per cent in CY25 from 6.1 per cent in CY24. In the passenger vehicle segment, the share of electric vehicles expanded to 4 per cent from 2.4 per cent over the same period.