The electric two-wheeler market is moving into a phase where execution, service depth and affordability levers are likely to shape competition more than early-mover advantage. Sales trends from 2025 marked a clear turning point, and industry executives and analysts expect competition in 2026 to centre on reliability, financing models and service coverage rather than headline innovation alone.
The change in leadership became evident last year as established manufacturers overtook venture-backed startups that had once defined the segment. TVS Motor Company emerged as the largest electric two-wheeler seller, clocking sales of 298,150 units in 2025, followed by Bajaj Auto with 269,233 units. In contrast, Ola Electric saw its volumes fall sharply to 198,690 units, almost half of what it had sold a year earlier. Ather Energy followed closely with sales of 200,110 units, while Hero MotoCorp’s Vida brand sold 108,805 units. Smaller players such as Ampere EV, BGauss, River and Pure EV remained niche in comparison.
Why service networks are trumping startup innovation
Industry watchers say the numbers reflect a broader structural shift rather than a one-off correction. Electric scooters are increasingly being bought as everyday vehicles, raising the importance of after-sales service, dealer reach and predictable ownership costs. Companies that fail to deliver on these parameters risk losing relevance even if their products remain competitive on paper.
Ola Electric’s slowdown has drawn particular scrutiny. Analysts point to a combination of service backlogs, customer complaints and slower innovation cycles as factors behind the decline. While the company focused through 2024-25 on its IPO and parallel technology initiatives, rivals moved quickly to refresh products and improve ownership experience. As one analyst put it, Ola’s scooters remained competitive, but fell behind peers that offered stronger service assurance and clearer upgrade paths.
Legacy manufacturers, by contrast, used their balance sheets and physical networks to steadily strengthen their electric portfolios. TVS’s iQube, launched in 2020 with a single variant having about 75-km range, now offers multiple battery options, with top-end variants exceeding 150 km. Bajaj’s Chetak Electric has followed a similar trajectory, with current premium variants offering ranges well above 150 km. Both companies also expanded experience centres beyond major cities, reinforcing brand trust in smaller markets.
From premium tech to mass mobility
Hero MotoCorp’s electric push gained traction in the second half of 2025 after the launch of the Vida VX2 with a removable battery. The introduction of a Battery-as-a-Service option, which separated battery costs from the vehicle price, reduced the upfront cost of the entry-level model to under Rs 50,000. Monthly sales more than doubled in the July-December period compared with the first half of the year.
Ather Energy, meanwhile, continued to lean on product engineering to widen its appeal. The Rizta family scooter helped the company tap mass-market demand by offering a larger seat and more storage, addressing practical use cases rather than early-adopter novelty.
