Electric two-wheeler (E2W) makers reported a second straight month of over 75% growth in sales volumes, signalling a faster shift towards electrification as higher fuel prices shifting consumer preference drive more first-time buyers to choose electric vehicles over internal combustion engine models.
The industry sold 1,91,614 electric two-wheelers in July, a 77% year-on-year increase and the highest growth rate recorded so far this fiscal, according to the latest Vahan data. The strong performance comes after the industry clocked an all-time high monthly volume of 1,94,966 units in June. The July registration data, however, is provisional and reflects registrations recorded until 4 pm on July 31. Final registrations for the month are likely to surpass June’s record once the data is fully updated.
TVS Motor reported one of its strongest year-on-year growth rates in July, further widening its lead over established and new-age rivals. The company’s EV registrations surged 121% year-on-year to cross the 50,000-unit milestone at 52,035 units. TVS Motor also expanded its market share to 27% in July from 24% in June.
KN Radhakrishnan, Director and Chief Executive, said EV adoption initially picked up in urban markets, with the company leveraging its existing dealership network, but demand has now started spreading to semi-urban areas. To meet the growing demand, the company is ramping up its EV production capacity.
“We had about 40,000 capacity. We are now moving to 50,000 plus. Now we are also constantly reviewing what is the next set of capacities required,” Radhakrishnan said during the first quarter earnings call.
Rival Bajaj Auto, also reported over 110% growth in monthly EV sales, with registrations rising to 43,137 units in July and its market share increasing to 23%. The strong performance was supported by the company’s extensive retail network, with the Chetak electric scooter available through more than 530 exclusive stores and over 4,500 customer touchpoints across 850-plus cities. Bajaj’s recently launched sub-₹1 lakh Chetak 2501 Agile and Light variants have also started contributing to volumes. The model accounts for 12% of the five-model Chetak portfolio. Bajaj Auto is expanding its electric two-wheeler production capacity from 50,000 units to 60,000 units in the immediate term.
Ather Retains Third Spot
Ather Energy retained the third position with a 60% year-on-year increase in registrations to 28,540 units in July, capturing a 15% market share, marginally lower than 16% in June. The July figures and the market shares are likely to change once the final registration data is published.
Hero MotoCorp’s EV registrations nearly doubled year-on-year to 20,913 units in July, with its Vida electric scooter brand capturing an 11% market share compared with 10% in the corresponding month last year.
Despite efforts to address service-related issues, Ola Electric continued to remain in the fifth position, selling 13,085 units in July. The company’s sales declined 29% year-on-year, while its market share dropped to 7% from 17% a year earlier. On a sequential basis, Ola Electric’s registrations fell from 16,211 units and an 8% market share in June 2026.
