India’s electric two-wheeler (E2W) market continues to show strong momentum despite ongoing geopolitical tensions in West Asia, with sales on track to set a new monthly record in March. As of March 27, E2W volumes had already reached 1.39 lakh units, surpassing the 1.31 lakh units recorded in March 2025. With the usual year-end push from manufacturers expected to further boost demand, 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 intensified demand-generation efforts to sustain momentum. Several companies have introduced special-edition models aligned with high-visibility events such as the Indian Premier League (IPL), while others have rolled out aggressive pricing strategies. Ola Electric, which has been facing declining sales, recently announced entry-level pricing starting at ₹49,999 along with benefits of up to ₹50,000 across its portfolio, valid until March 31, 2026.
For FY26, total electric two-wheeler sales have grown 17 per cent year-on-year to 1.35 million units, compared with 1.15 million units in FY25. The growth has been driven by network expansion, new product launches, and attractive purchase schemes introduced by manufacturers.
TVS Motor Company continues to lead the segment, further widening its gap over Bajaj Auto. The company has already crossed the one lakh unit mark for the March 2026 quarter, while full-year FY26 volumes have surpassed the 3 lakh milestone, reaching approximately 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 FY26 electric two-wheeler sales of 2.76 lakh units, up from 2.31 lakh units in FY25. Ather Energy also posted strong growth, with volumes rising to around 2.3 lakh units in FY26, significantly higher than 1.31 lakh units in FY25.
In contrast, Ola Electric witnessed a decline in volumes, with FY26 sales falling to 1.61 lakh units from 3.44 lakh units in FY25. Meanwhile, Hero MotoCorp recorded one of the sharpest increases in the segment, with electric two-wheeler sales nearly tripling to 1.39 lakh units in FY26, compared with 48,736 units in FY25.
The continued growth in India’s electric two-wheeler segment highlights increasing consumer acceptance, improved product offerings, and expanding charging and distribution infrastructure, reinforcing the sector’s strong growth trajectory.
