The electric vehicle two-wheeler class saw rapid growth in February 2024 registering a massive 24 per cent year-on-year growth. According to the Vahan data, in February 2024 EV two-wheelers clocked 81,963 units as compared to 66,053 units in the same month last year. The highest monthly sales for this segment was 1,04,055 units in May 2023.
Top five electric two-wheelers in India
| EV two-wheeler OEMs | February 2024 Units | January 2024 Units |
| Ola Electric | 33,722 | 32,160 |
| TVS Motor | 14,499 | 15,181 |
| Bajaj Auto | 11,618 | 10,742 |
| Ather Energy | 8,983 | 9,209 |
| Greaves Electric | 2,606 | 2,351 |
Ola Electric charges the way forward in February 2024 as it continues to be the number one EV two-wheeler. The company registered 33,722 units and commands 41.1 per cent of the market share, which was 39.54 per cent in January 2024. The sales surged ahead thanks to the discounts and price cuts available last month.
TVS Motor continues its impressive run with the iQube which clocked 14,499 units last month. Compared to January 2024, TVS numbers were down by 682 units as a result its market share came down from 18.6 per cent to 17.7 per cent in February 2024.
The final podium spot goes to Bajaj Auto, who managed 11,618 Chetak units, which is a jump up of 876 units in February 2024 as compared to January. Bajaj Auto has increased its market share from 13.21 per cent to 14.2 per cent.
Bengaluru-based Ather Energy registered 8,983 units last month, which was marginally less than 9,209 units in January 2024. Ather Energy has a market share of 11 per cent, a fraction less than 11.32 per cent in January.
The top five is rounded up by Greaves Energy, formerly Ampere, which sold 2,606 units in February. The company saw a rise of 255 units last month and has a market share of 3.2 per cent, which is a boost from 2.89 per cent in January 2024.
