TL;DR
India's electric two-wheeler market grew by 21.81% in FY2026, reaching over 1.4 million sales, with TVS Motor leading the segment and Ola Electric experiencing a notable decline.
The Indian electric two-wheeler (E2W) market demonstrated robust performance in the fiscal year 2025-26, with retail registrations reaching 1,401,818 units. This represents a substantial 21.81% year-on-year growth compared to 1,150,790 units in FY2025, according to data released by the Federation of Automobile Dealers Associations (FADA). The market share of E2Ws in the overall two-wheeler segment also saw a modest increase, rising to 6.5% from 6.1% in the previous fiscal year, signaling a gradual but consistent shift towards electric mobility.
TVS Motor Company emerged as the segment leader, recording 341,513 units and a strong 43.54% growth. Bajaj Auto secured the second position with 289,349 units, while Ather Energy showcased impressive growth of 82.34% with 239,178 units sold. In contrast, Ola Electric experienced a significant decline in sales during FY2026, falling to 164,295 units from 344,300 units in FY2025. Hero MotoCorp, however, showed a remarkable recovery with a 196.13% growth, albeit from a smaller base. Emerging players like River Mobility and E-Sprinto Green Energy also reported exceptional growth rates.
