TVS leads EV 2W sales in June, Ola Electric slips further as Bajaj holds second spot

After emerging as the market leader in May, TVS Motor Company extended its lead in India’s electric two wheeler (E2W) segment in June 2025 by registering 25,274 units, marking an 80% year on year increase. According to Vahan data compiled on July 1, the company now holds a 24% market share and maintained its top position for the third consecutive month.

Bajaj Auto, which had narrowed the gap with TVS in May, continued its momentum by recording 23,004 units in June. This reflects a 154% year on year increase. Bajaj now holds a 22% share of the E2W market and retained its second position. In the previous month, Bajaj had recorded sales of 21,940 units.

Ola Electric led the market for much of 2023 and early 2024 but continued to decline. The company sold 20,189 units in June, a 45% drop compared to the same month last year. Its market share decreased from 46% in June 2024 to 19% in June 2025.

In June, Hyundai Motor and Kia Corporation exited Ola Electric by selling their entire stake for a combined Rs 690 crore through block deals.

Ola Electric, which is approaching one year since its public listing, saw a continued decline in its share price during June. The shares are currently trading at Rs 43, down 43% from the listing price of Rs 76.

Ather Energy remained in fourth place with 14,512 units sold in June, a 133% year on year increase. The company’s market share rose to 14% from 8% in the same month last year. Ather was also listed on the stock exchange in May this year.

Hero MotoCorp ranked fifth with 7,664 units sold, representing a 149% year on year increase. Its market share grew to 7% from 4% a year earlier, indicating a larger presence in the E2W segment.

The rise of TVS and Bajaj alongside the decline of Ola indicates a shift in India’s electric two wheeler market. Established vehicle manufacturers now hold a greater share, moving ahead of earlier startup-led growth.