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Ola Electric remains top E2W seller in FY25 despite challenges. Bajaj Chetak sees 112% growth, while TVS and Ather also expand sales. Total E2W sales hit 1.13 million units, up 20% from FY24.
Ola Electric remained the top-selling electric two-wheeler (E2W) brand in FY25 despite losing market share due to after-sales service issues, increasing competition from legacy automakers and regulatory challenges.
The E2W industry crossed the one-million-unit milestone in a year for the first time in FY25, with total sales of 1.13 million units, a 20% increase over FY24.
As per latest Vahan data, Ola sold 343,260 units in FY25, a 4% increase from FY24. However, its market share dropped to 30% from 35% in the previous year.
Ola started FY25 on a strong footing selling 34,163 units to corner a commanding 52% market share in April. However, sales declined steadily, hitting a low of 13,800 units in December, with market share shrinking to 18% amid mounting complaints about product quality and service.
TVS Motor and Bajaj Auto, meanwhile, gained ground through aggressive pricing and network expansion.
Ola made a comeback in January 2025, reclaiming the top spot by surpassing TVS Motor and Bajaj Auto in monthly sales. It sold 24,353 units during the month, capturing 25% market share, while TVS and Bajaj were at 24% and 21%, respectively. Ola’s recovery was fuelled by rapid retail expansion, adding over 3,000 outlets in December and pushing its total network to 4,000 stores.
However, Ola’s sales dipped again in February, capturing 11% market share with only 8,647 units, per Vahan data. The company, however, claimed it sold over 25,000 units, attributing the discrepancy to contract renegotiations with vehicle registration agencies.
TVS Motor emerged as the second-largest E2W manufacturer in FY25 with a 21% market share riding on its i-Qube e-scooter, which saw a 28% year-on-year rise in sales to 233,591 units.
Bajaj Auto posted the sharpest growth, with sales of its Chetak e-scooter surging 112% to 226,030 units, pushing its market share from 11% in FY24 to 20% in FY25. The launch of sub-Rs 1 lakh e-scooter variants and aggressive network expansion helped both companies gain market share.
TVS Motor expanded its dealer network from 750 in Q2 FY25 to 900 by the end of Q3. The company, which has over 1,400 mainline dealerships, plans to further integrate its E2W business into its existing network, director & CEO KN Radhakrishnan said in the Q3 FY25 earnings call. Bajaj Auto also ramped up its e-scooter network to 4,000 outlets while leveraging e-commerce channels to boost sales.
IPO-bound Ather Energy saw a 19% year-on-year rise in sales to 129,915 units, driven by the launch of its family e-scooter Rizta, priced at Rs 99,999. However, its market share slipped marginally to 11% from 12% in FY24.
Hero MotoCorp ended FY25 as the fifth-largest E2W seller, with a 4% market share. The company sold 47,230 units of its Vida e-scooters, a 51% increase from FY24.
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This article was first uploaded on March thirty-one, twenty twenty-five, at twenty-two minutes past eight in the night.
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