EV slowdown continues, Ola holds third as TVS and Bajaj dominate India’s electric scooter market amid changing cost structures.
TVS Motor and Bajaj Auto continued to dominate India’s electric two-wheeler market in June 2025, while Ola Electric held its position as the third-largest player for the second consecutive month.
These rankings are based on vehicle registration data from the Ministry of Road Transport and Highways’ Vahan portal.
In terms of individual performance, TVS Motor led the segment with a 25.4% market share, followed closely by Bajaj Auto at 22.8%.
Meanwhile, Ola Electric, once the category leader, registered 18,527 vehicles in June, a marginally lower number than the 18,541 units sold in May. Although its share edged up slightly to 19.6%, it remained below the 20% threshold for the second consecutive month.
Overall, the electric two-wheeler segment recorded a slight month-on-month decline. A total of 94,299 units were registered in June, compared to 96,858 in May.
This downturn reflects broader market trends, including muted consumer sentiment, recent policy revisions, and adjustments in pricing strategies across manufacturers.
Meanwhile, Ather Energy, now a publicly listed company, recorded a modest gain. It registered 13,617 units in June, up from 13,019 in May, pushing its market share from 13.4% to 14.4%. The company also stated its expansion plans, targeting 700 experience centres across the country by the end of FY26.
Looking ahead, industry observers note that the sector is entering a phase of consolidation. With established players strengthening their dealer networks and newer entrants scaling operations, competition remains intense.
Additionally, recent reductions in FAME-II subsidies and shifting cost trends are expected to impact consumer choices and sales momentum further.
Despite the marginal decline in volume, no major supply chain disruptions were reported. Most key manufacturers maintained stable month-on-month delivery figures, indicating stable output and distribution capabilities.
