India’s Electric Two-Wheeler Market Sees Major Shift
India’s electric two-wheeler market witnessed a significant shift in February as established automakers strengthened their dominance.
TVS Motor Company and Bajaj Auto together crossed the 50% combined market share mark in the electric scooter segment, reinforcing their leadership position.
Meanwhile, Ola Electric saw its market share decline sharply to around 3.5% during the month.
Strong Product Acceptance
TVS continues to benefit from steady demand for the:
TVS iQube
Bajaj’s EV performance is led by:
Bajaj Chetak
Both models are positioned as reliable, premium urban electric scooters with strong dealership support and brand trust.
Ola Electric’s Market Share Decline
Ola Electric’s drop to around 3.5% market share marks a notable shift from its earlier leadership position.
Industry observers attribute this to:
• Increased competition
• Service-related customer concerns
• Growing trust in traditional OEM brands
• Improved offerings from rivals
While Ola remains an important player in the EV space, February numbers indicate a stronger tilt toward legacy two-wheeler manufacturers.
For EVMovz readers, the February data signals a clear transition phase in India’s electric mobility space:
• Legacy players are regaining dominance
• Startup-led growth is stabilizing
• Market consolidation may accelerate
• Consumer expectations are evolving
If this trend continues, TVS Motor and Bajaj Auto could further strengthen their hold in the coming quarters.