TVS Motor Company retained its leadership in India’s electric two-wheeler market in February 2026, while Ola Electric slipped to seventh position, underscoring changing competitive dynamics as legacy automakers tightened their grip on the segment.
According to vehicle registration data from the government’s Vahan portal, total electric two-wheeler registrations stood at 1,01,059 units during the month.
TVS Motor topped the charts with 29,231 units, capturing a 28.9% market share. Steady demand for its iQube electric scooter helped the company maintain a comfortable lead over competitors.
Bajaj Auto ranked second with 22,942 registrations, translating to a 22.7% market share, supported by continued traction for its Chetak electric scooter.
Ather Energy secured the third position with 18,726 units and an 18.5% share, driven by consistent volumes from its 450 series electric scooters.
Hero MotoCorp’s electric mobility brand Vida claimed the fourth spot with 11,356 registrations, accounting for an 11.2% market share as it gradually scales up EV operations.
Among other players, Ampere Vehicles registered 4,203 units (4.2% share). Ola Electric reported 3,783 units, translating into a 3.7% share and placing it behind rivals including TVS, Bajaj, Ather, and Vida.
Newer and smaller players also contributed to the overall tally. River recorded 2,018 units, while BGauss reported 1,849 units. E-Sprinto and Simple Energy accounted for comparatively smaller volumes.
Ola Electric’s fall to seventh marks a notable shift from its earlier dominance. The company had been among the leading electric two-wheeler manufacturers through 2023 and early 2024, at times topping monthly registration charts. However, its market share has since declined as established manufacturers such as TVS Motor, Bajaj Auto, and Hero MotoCorp expanded their electric portfolios and strengthened distribution networks.
Meanwhile, manufacturers grouped under the “Others” category together contributed 5,521 units, representing 5.5% of total registrations.
