Traditional manufacturers consolidate dominance across the domestic EV sector, while early pure-play market leaders see market share decline.
Legacy internal combustion engine (ICE) manufacturers TVS Motor, Bajaj Auto, and Hero MotoCorp-backed Vida captured 61.8 per cent of India’s electric two-wheeler registrations during the first 28 days of September. According to Vahan portal data, TVS Motor retained the leading position with a 26.4 per cent market share (49,677 units sold), followed by Bajaj Auto at 23.6 per cent (44,480 units), and Vida at 11.7 per cent (22,109 units). The figures mark an increase from their combined market share of 59.5 per cent in August and 60.6 per cent in July, signalling a steady consolidation around established automotive brands.
The shift underscores how traditional manufacturers are leveraging their nationwide dealership networks, manufacturing scale, and established after-sales infrastructure to outperform pure-play EV startups. In contrast, former market leader Ola Electric saw its share slip to 6.4 per cent (11,984 units) in September, down from 7.6 per cent in August and 6.9 per cent in July. Meanwhile, Ather Energy recorded 27,690 registrations, with sales expected to receive a boost in October following the launch of its mass-market Konarc model priced at ₹99,000 ($1,188).
Despite the shifting dynamics among individual manufacturers, overall EV adoption continues to accelerate. Total electric two-wheeler registrations reached 1.88 lakh units between 1 and 28 September, surpassing the 1.83 lakh registrations recorded across the entirety of August. Smaller entrants and startups, including Ampere, River, and Ultraviolette, collectively registered over 32,000 units during the same period, reflecting a broader expansion of the domestic electric mobility market.
