India’s electric two-wheeler (E2W) market continues to evolve rapidly, and May 2025 turned out to be a milestone month with retail sales touching 100,266 units. This marks a significant 9% growth over April 2025, reflecting growing consumer interest and strengthening confidence in electric mobility. While the market has been volatile in recent months due to policy revisions and shifting buyer sentiments, May’s performance confirms that the E2W segment is regaining momentum.
TVS Motor Company Grabs the Top Spot
TVS Motor Company emerged as the clear leader in May, selling 24,560 electric scooters. The company now holds a 24.49% share of the E2W market — a notable leap driven by the strong performance of its iQube electric scooter. TVS has steadily expanded its EV footprint across the country, offering better accessibility and service infrastructure. Its consistent marketing efforts and product reliability have positioned it as a trustworthy name in the electric space.
TVS’s strategy of gradual yet stable expansion contrasts with the aggressive pricing and marketing tactics of newer players, and it seems to be paying off. Consumers now appear to be favoring legacy brands that combine technological innovation with long-standing after-sales support.
Bajaj Auto Closes the Gap with Strong Numbers
Bajaj Auto recorded impressive sales of 21,770 units in May, capturing 21.71% of the market. The brand has made a strong comeback on the back of its updated Chetak line-up, now better priced and featuring improved range and charging capabilities. Bajaj’s steady rise through the rankings underlines its commitment to quality and brand loyalty.
With expanding availability in Tier 2 and Tier 3 cities, Bajaj is making a concerted effort to widen its consumer base beyond urban centers. The company’s push for connected vehicle features and robust build quality continues to resonate with buyers seeking a balance between tradition and tech.
Ola Electric Falls to Third
Ola Electric, which held the top position for most of 2023 and early 2024, slipped to third place in May 2025 with 18,499 units sold. This translates to a market share of 18.45%, a noticeable drop compared to its earlier dominance. Factors behind this decline include rising competition, ongoing quality and service-related concerns, and reduced subsidies impacting pricing.
Ola’s earlier strategy of rapid expansion may have outpaced its backend capabilities, especially in servicing and delivery timelines. Nevertheless, the company remains a major player and is expected to bounce back with upcoming models and improvements in customer service.
Ather Energy Maintains Fourth Place
Bangalore-based Ather Energy sold 12,840 units in May, securing a market share of 12.81%. Known for its technology-first approach, Ather continues to attract a niche, urban audience that values performance and features. The Ather 450 series remains popular among tech-savvy commuters.
The company has been focusing on expanding its charging infrastructure — Ather Grid — to support customer convenience. However, its premium pricing and limited availability in smaller towns may be holding it back from breaking into the top three.
Hero MotoCorp at Fifth with a Modest Share
Hero MotoCorp rounded out the top five with 7,160 units sold and a 7.14% market share. While Hero is a household name in the ICE two-wheeler segment, its EV journey is still gaining traction. The VIDA sub-brand has shown potential, but delays in product launches and limited availability have impacted sales volumes.
As the company ramps up production and retail operations, especially in North and Central India, industry watchers expect Hero to grow steadily in the coming quarters.
Industry Outlook: Stabilization and Growth Ahead
The 9% month-on-month growth in May is a positive sign after a period of uncertainty following the reduction in FAME-II subsidies. While the withdrawal of subsidies earlier in the year disrupted sales for several OEMs, the market now appears to be stabilizing as manufacturers recalibrate pricing strategies and introduce new models.
Read More: Electric Two-Wheeler Sales in May 2025 TVS and Bajaj Surpass Ola Electric
Consumer sentiment is also improving, thanks to increased awareness, better financing options, and the availability of reliable electric scooters. Rising fuel prices and government support for clean energy initiatives have added further incentives for buyers to switch to electric mobility.
Charging Infrastructure and State Policies Play a Role
Charging infrastructure remains a critical enabler for electric vehicle adoption. States like Maharashtra, Karnataka, and Tamil Nadu continue to lead the way in deploying public chargers and offering localized EV policies. Private players are also investing heavily in fast-charging networks, which is expected to improve customer confidence further.
Government schemes promoting battery-swapping stations, subsidies for fleet adoption, and road tax exemptions are helping reduce the total cost of ownership for EVs. As these policies mature, they will continue to benefit both individual buyers and commercial fleet operators.
What to Expect in the Coming Months
Looking ahead, the Indian electric two-wheeler space is set for exciting developments. Several OEMs are planning new product launches with better range, performance, and connected features. Brands like Suzuki, Yamaha, and Honda are also expected to enter or expand their EV portfolios, adding more competition to the already crowded segment.
The race for leadership will depend not just on volume but also on how brands manage consumer expectations, offer service support, and innovate in areas such as battery technology and smart features.
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