India’s electric two-wheeler (e-2W) market has embarked on a high growth trajectory in FY2027 led by strong performance from TVS Motor Company, Bajaj Auto, Ather Energy and Hero MotoCorp’s Vida brand, while Ola Electric has reported monthly sales of over 12,000 units.
After ending FY2026 with record retail sales of 1.40 million units, the industry maintained its momentum in April 2026, with total e-2W deliveries reaching 148,677 units – up 61% year-on-year (April 2025: 92,536 units). This is the second highest monthly sales figure so far in CY2026 after March’s 192,343 units.
The top four OEMs – TVS, Bajaj Auto, Ather Energy and Hero Vida – collectively retailed 112,798 units, accounting for a dominant 76% share in the market.
Market leader TVS Motor Company recorded sales of 37,661 units in April, marking a strong growth of 96% year-on-year and capturing 25% market share. The company’s growth is being supported by its Battery-as-a-Service (BaaS) strategy, which reduces upfront ownership costs and increases customer confidence. While the iQube remains its main volume driver, the new Orbiter range continues to gain popularity.
Bajaj Auto took the second position with 32,883 units of its Chetak e-scooter, showing a growth of 72% YoY and gaining 22% market share. This is its third best monthly performance ever.
In third place, Ather Energy recorded sales of 27,024 units, more than double its volume with a 103% year-on-year growth. The Bengaluru-based EV maker now has 18% market share and is moving towards the number 2 position.
Hero MotoCorp’s Vida brand retained its fourth position with sales of 15,230 units in April, up 148% year-on-year, translating into 10% market share. The brand has grown rapidly and has crossed cumulative sales of 200,000.
Meanwhile, Ola Electric remained at the fifth position for the second consecutive month with retail sales of 12,166 units. Although this represents a decline of 39% year-on-year, the company has shown signs of improvement with month-on-month sales improving.
Greaves Electric Mobility (Ampere) took the sixth position with 6,884 units, up 72% year-on-year and accounting for 5% market share. The company recently strengthened its portfolio with the launch of Ampere Magnus Neo.
Among emerging players, River Mobility, driven by demand for its Indie e-scooter, sold 3,198 units (up 302% YoY), while Bagos Auto sold 3,065 units, registering a growth of 133%.
Simple Energy continued its upward trend with sales of 1,188 units, up 338% year-on-year, supported by its updated Gen 2 lineup and upcoming products.
Bounce Electric entered the top 10 with 1,077 units and registered an extraordinary growth of 1,583% over a low base.
Overall, the top 10 OEMs contributed a total of 140,376 units – accounting for 94% of total April sales – highlighting increasing consolidation in India’s fast-growing e-2W market. The top five players alone contributed 84% of the total volume, underscoring their continued dominance.
In contrast, Japanese OEMs including Honda Motor Company, Suzuki Motor Corporation and Yamaha Motor Company collectively sold only 753 units during the month, indicating their limited presence in India’s electric two-wheeler sector.
