TVS Motor Leads EV Two-Wheeler Market
TVS Motor led India’s electric two-wheeler market in March 2026, overtaking rivals as strong iQube demand, wider distribution and year-end buying momentum pushed registrations higher. The latest market data also showed Ola Electric slipping to fifth place, underlining how legacy manufacturers are tightening their grip on the fast-growing EV segment.
TVS Motor Leads EV Two-Wheeler Market
Government registration data showed total electric two-wheeler registrations at 1,39,238 units in March 2026. TVS Motor topped the market with 38,007 units, giving it a 27.3 percent share. The performance reflects growing traction for the iQube scooter, especially beyond major metro cities, as established manufacturers continue to expand into newer markets.
Bajaj, Ather And Vida Follow In Rankings
Bajaj Auto ranked second with 33,447 registrations and a 24 percent market share, while Ather Energy came third with 26,151 units and an 18.8 percent share. Hero MotoCorp’s EV brand Vida placed fourth with 15,683 units, accounting for 11.3 percent of the market. The numbers suggest that older, better-established companies are now dominating the segment through stronger supply chains, dealership reach and financing options.
Ola Electric Slips To Fifth Place
Ola Electric recorded 6,381 units in March, with a market share of 4.6 percent, placing it fifth in the monthly rankings. The decline marks a sharp change from its earlier position as one of the leading EV two-wheeler players. The March sales surge across the sector was also helped by discounts, exchange offers and purchases made ahead of the PM E-DRIVE subsidy deadline, which encouraged buyers to complete purchases before possible price increases.
