India’s electric two-wheeler (E2W) market is showing strong momentum despite ongoing geopolitical tensions in West Asia, with March sales on track to set a new monthly record. By March 27, E2W volumes had already reached 1.39 lakh units, surpassing the 1.31 lakh units recorded in March 2025. With manufacturers expected to further boost demand later in the year, total monthly sales are likely to exceed the previous peak of 1.45 lakh units achieved during the festive period in October 2025.
Manufacturers have also stepped up demand-creation efforts to maintain the momentum. Many companies have introduced special-edition models to suit high-visibility events such as the Indian Premier League (IPL), while others have launched aggressive pricing strategies. Ola Electric, which has been facing declining sales, recently announced entry-level pricing across its portfolio starting at ₹49,999 with benefits of up to ₹50,000, valid till March 31, 2026.
For FY26, total electric two-wheeler sales grew 17 percent year-on-year to 1.35 million units, compared to 1.15 million units in FY25. This growth has been driven by network expansion, new product launches and attractive purchase schemes launched by manufacturers.
TVS Motor Company remains the leader in this segment, due to which its gap over Bajaj Auto has further increased. The company has already crossed the one lakh units mark for the March 2026 quarter, while full year FY26 volumes have crossed the 3 lakh milestone, reaching around 3.3 lakh units as of March 27. This makes TVS the first manufacturer to achieve this level in a single year. In comparison, TVS recorded 2.38 lakh units in FY25.
Bajaj Auto reported electric two-wheeler sales of 2.76 lakh units in FY26, up from 2.31 lakh units in FY25. Ather Energy also recorded strong growth, with volumes rising to around 2.3 lakh units in FY26, significantly higher from 1.31 lakh units in FY25.
In contrast, Ola Electric saw a decline in volumes, with sales falling to 1.61 lakh units in FY26 from 3.44 lakh units. Meanwhile, Hero MotoCorp recorded the fastest growth in the segment, with sales of electric two-wheelers rising nearly three-fold to 1.39 lakh units in FY2026 from 48,736 units in FY2025.
The continued growth in India’s electric two-wheeler segment highlights growing consumer acceptance, improved product offerings and expansion of charging and distribution infrastructure, underpinning the strong growth trajectory of the sector.