India’s electric two-wheeler market saw a mixed July 2025. While cumulative sales for the first seven months hit 7,08,905 units — 62 percent of CY2024’s total — monthly sales dipped 4 percent YoY to 1,02,924 units, ending a three-month growth streak. The drop is likely due to rare earth magnet shortages impacting production. Among 207 OEMs, the Top 10 accounted for 94 percent of sales. All Top 5 brands crossed 10,000 units, with Hero MotoCorp achieving this milestone for the first time. However, both TVS and Bajaj saw slowing demand, hinting at supply-side pressures that may affect future volumes.
TVS Motor Co
July 2025: 22,242 units, up 13 percent YoY / Market share: 22 percent
TVS Motor retained its top spot in electric two-wheeler sales for the fourth straight month with 22,242 iQubes sold in July 2025, securing a 22 percent market share. While sales rose 13 percent YoY, they were the lowest in the past three months. FY2026 sales (April–July) stand at 92,457 units, up 73 percent YoY, and CY2025 sales have reached 1,66,204 units — 75 percent of last year’s total. The company has revealed plans to launch a new electric two-wheeler in Q3 FY2026 (September-October 2025). Expect this to happen around the early part of the third quarter with the festive season opening.
Bajaj Auto
July 2025: 19,669 units, up 11 percent YoY / Market share: 19 percent
Bajaj Auto remained in the No. 2 spot for electric two-wheeler sales in July 2025 with 19,669 Chetaks sold, up 11 percent YoY and capturing a 19 percent market share. April–July sales rose 92 percent to 83,949 units, while January–July sales hit 1,62,203 units — 84 percent of its CY2024 total. The growth is likely driven by the new entry-level Chetak 3001 variant, priced at Rs 99,990, which undercuts rivals like the TVS iQube and Ather Rizta S.
OLA Electric
July 2025: 17,850 units, down 57 percent YoY / Market share: 17 percent
Ola Electric, a strong market leader not so long ago with massive lead every month over its key rivals TVS and Bajaj Auto, is experiencing a tough and competitive market environment. The company’s retail sales dropped sharply to 17,850 units in July 2025 — down 57 percent YoY — shrinking its market share to 17 percent from 39 percent a year ago. Once the segment leader, Ola last topped the sales chart in January 2025 but has since been overtaken by Bajaj and TVS. FY2026 (April–July) sales stand at 76,451 units, down 49 percent YoY, while CY2025 sales so far total 1,33,128 units — a 51 percent decline from the same period last year. Most of Ola’s sales come from its 14-variant S1 e-scooter lineup, priced between Rs 65,000– Rs 1.7 lakh. In May, Ola also began deliveries of its Roadster X electric motorcycle which primarily aims to target commuter bike buyers.
Ather Energy
July 2025: 16,241 units, 59 percent YoY / Market share: 16 percent
Ather Energy had a strong July 2025, retailing 16,241 units — up 59 percent YoY and its third-best monthly tally yet — securing a 16 percent market share. With 98,014 units sold from January to July, it has already achieved 78 percent of its CY2024 total and is on track to cross 1.5 lakh units this year. The Rizta family scooter, contributing over 60 percent of monthly sales, continues to drive growth. Ather added a new 3.7kWh Rizta S variant on July 1 and launched a longer-range 450S (161km) on July 31. Later this month, Ather will unveil its new EL platform, concept vehicles, faster chargers, and the upgraded Ather Stack 7.0 at Community Day 2025.
Hero Motocorp
July 2025: 10,495 units, 107 percent YoY / Market share: 10 percent
Hero MotoCorp achieved its best-ever monthly electric scooter sales in July 2025, delivering 10,495 Vida e-scooters — a 107 percent YoY jump — and crossing the 10,000-unit mark for the first time. This pushed its monthly market share to 10 percent, double that of July 2024. CY2025 is shaping up to be a record year, with 43,891 units sold in the first seven months — already surpassing its total CY2024 tally. Strong demand is driven by the new Vida V2 and the aggressively priced VX2, launched on July 1, with prices starting at Rs 44,990 (BaaS). With momentum building, Hero could approach or surpass 1 lakh EV sales in CY2025.
Greaves Electric Mobility
July 2025: 4,197 units, up 33 percent YoY / Market share: 4 percent
Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton which markets the Ampere brand of e-scooters sold 4,197 e-scooters in July 2025, securing a 4 percent market share. FY2026 sales (April–July) stand at 16,589 units (up 60 percent YoY), while CY2025 sales so far total 29,554 units (up 62 percent YoY). The Nexus remains its best-seller, with the new Reo 80 launched in April at Rs 59,900. Among other Top 10 OEMs in July, Pur Energy sold 1,688 units (Jan–July: 10,860), Bgauss Auto sold 1,518 units (Jan–July: 11,191), and River Mobility matched that figure with 1,518 River Indie sales. Kinetic Green rounded off the Top 10 with 1,225 units from its Zulu, Zing, and e-Luna range.
With inputs from Gavin Rodrigues
Hormazd Sorabjee
Anurag Chaturvedi
