Bajaj Auto has taken the lead in electric two-wheeler retail sales in the first week of February 2025 (1-7) which witnessed total sales of 21,407 units across 121 OEMs and importers, as per the latest Vahan data.
In Week 1, Bajaj Auto has sold 5,096 Chetak e-scooters, which gives it a lead of 421 units over Ola Electric which has retailed 4,675 units. Bajaj Auto, which won the best-selling e2W OEM title for the first time in December 2024, was ranked No. 3 in January 2025 after Ola Electric and TVS Motor Co.
Combined sales of 17,306 units between Bajaj, Ola, TVS and Ather Energy acocount for 81% of the total 21,407 e2Ws retailed in India between February 1-7.
The Pune-based EV maker is benefiting from the recent launch of the Chetak 35 Series e-scooters in the form of the mid-spec 3502 and top-spec 3501 variants, which deliver a claimed higher range of 153km per charge, TFT display with integrated maps, Bluetooth connectivity and screen mirroring, faster charging and best-in-class 35-litre boot space.
Ola Electric, which bounced back and regained its market leader title in January 2025, sold 4,675 e-scooters. The company, in end-January, launched the its third-generation S1 portfolio comprising four models – S1 X, S1 X+, S1 Pro and the new flagship S1 Pro+ – with prices start at Rs 80,000 and going up to Rs 170,000 for the S1 Pro+. The S1 Pro+, equipped with a 5.3 kWh battery, claims a top speed of 141kph and an industry-topping range of 320km on a single charge. A more affordable 4 kWh variant is also available. Ola EV sales should get a fillip in the months ahead, following the launch of the Roadster X, its first electric motorcycle whose deliveries are slated to commence in mid-March 2025.
Just 125 units behind and close on Ola’s heels is TVS Motor Co, which has clocked total retails of 4,550 units. While these should comprise of the iQube e-scooter, the company has recently begun deliveries of the TVS X, its flagship electric scooter first unveiled in December 2023 and priced at Rs 250,000 (ex-showroom Delhi).
Smart e-scooter maker Ather Energy maintains its No. 4 rank with 2,985 units. Its flagship product is the Rizta family e-scooter launched in April 2024 at a starting price of Rs 110,000 (Rizta S) through to Rs 165,000 (Rizta Z 3.7 with ProPack) is witnessing growing customer acceptance. While the S version (2.9 kWh battery) has a 123km range, the Z variant (3.7 kWh) has a 160km range.
In fifth position is Greaves Electric Mobility with 886 units in the first week of February 2025. The company’s sales are mainly driven by the Nexus and Magnus Neo e-scooters. While the flagship Nexus family EV, has a top speed of 93kph and a certified range of 136km per charge, the Magnus Neo, which is an updated version of the Ampere Magnus, has an over-100km range.
Hero MotoCorp takes No. 6 position with 638 Vida e-scooters sold between February 1-7. The new Vida V2, which has expanded the company’s portfolio, is available in three variants: Lite (Rs 96,000), Plus (Rs 115,000) and Pro (Rs 135,000). The most affordable V2 Lite is an entirely new variant and comes with a small 2.2kWh battery pack that has a claimed 94km IDC range. It also has a lower 69kph top speed compared to the Plus and Pro variants, which have top speeds of 85kph and 90kph, respectively. Only two riding modes are available on the V2 Lite – Ride and Eco – but the rest of the feature-set is very similar to the other two, including the 7-inch touchscreen TFT display.
OLA SELLS OVER 315,000 UNITS IN CURRENT FISCAL FOR 33% MARKET SHARE
As per cumulative Vahan retail sales data for the April 1, 2024 to February 7, 2025 period in the current fiscal year, a total of 963,278 electric two-wheelers have been sold in India, accounting for 58% of total all-India EV retails of 1.65 million units.
Of this, Ola Electric, which had sold 326,428 e-scooters in FY2024 and topped the market with a 35% share, has retailed 316,561 units which gives it a current market share of 33 percent.
TVS Motor Co is the No. 2 OEM with 192,529 iQubes and a 20% market share. In FY2024, TVS had sold 182,933 units for a 19% market share.
Bajaj Auto, with 179,314 Chetaks sold in the current fiscal, is third on the podium and has an 18.61% market share. In FY2024, the Chetak manufacturer had sold a total of 106,431 units for an 11% market share and was ranked fourth behind Ather Energy.
Ather Energy, which was the No. 3 in FY2024 (108,870 units), is now in No. 4 position with cumulative 10-month retails of 106,359 units and a similar 11% market share.
Hero MotoCorp, which was the No. 8 in FY2024 with 17,691 Vidas, has moved up the ranks in the current fiscal as a result of more than doubling its last fiscal’s sales. This gives it fifth position at present with 38,630 units and a 4% market share.
Greaves Electric Mobility, with 31,699 e-scooters sold in the current fiscal, is ranked sixth with a 3% e2W market share. GEM had sold 31,273 units in FY2024 and was ranked fifth.
Bgauss Auto, ranked No. 9 in FY2024 with 15,234 units, is currently placed at No. 7 having sold a total of 13,900 units in this fiscal year.
Revolt Motors, the sole pure electric motorcycle OEM in this Top 10 table, is at No. 8 with 9,581 units. The company has moved up six ranks from its No. 14 position in FY2024 (7,341 units).
Wardwizard Innovations is another company which is faring well in the marketplace. With 8,681 units sold in the first 10 months and 7 days of this fiscal, it is the new No. 9, four ranks above its No. 13 position in FY2024 (9,115 units).
Wrapping up the Top 10 list is Kinetic Green Energy with 7,087 e2Ws comprising both e-scooters and the Kinetic e-Luna. In FY2024 it was ranked 12th with 9,703 units.