India’s electric two-wheeler market reached a new milestone in October 2026, with registrations climbing to approximately 2.24 lakh units, the highest monthly level recorded so far. Festive-season purchases, new model launches and growing consumer interest in electric mobility helped drive a 48% year-on-year increase.
The record month also revealed a shift in market leadership. Established manufacturers such as TVS Motor, Bajaj Auto and Hero MotoCorp continued to strengthen their positions, while Ola Electric’s registrations declined. The figures suggest that India’s electric two-wheeler market is expanding, but competition is increasingly favouring companies with established distribution networks, manufacturing capacity and broad product portfolios.
Key Highlights of October 2026 Electric Two-Wheeler Sales
- Electric two-wheeler registrations reached 2,23,887 units in October, up 48% year-on-year.
- Monthly registrations increased approximately 7% compared with September 2026.
- TVS Motor led the market with more than 60,000 registrations and around 27% market share.
- Bajaj Auto retained second position, while Ather Energy ranked third.
- Hero MotoCorp’s Vida brand recorded strong growth, reaching approximately 30,000 registrations.
- Ola Electric was among the major manufacturers to report a year-on-year decline.
- Cumulative electric two-wheeler registrations reached approximately 17.9 lakh units between January and October 2026.
India’s Electric Two-Wheeler Market Records Its Biggest Month
According to vehicle registration data from the government’s Vahan portal, electric two-wheeler registrations reached 2,23,887 units in October 2026.
This represented 48% growth compared with October 2025 and an increase of approximately 7% over September’s 2,08,707 registrations.
The milestone reflects the combination of festive demand, new product introductions and increasing availability of electric scooters across different price categories.
October’s performance was also significant because the industry had already exceeded its full-year 2025 volume. India recorded approximately 13.4 lakh electric two-wheeler registrations during calendar year 2025, while the January–October 2026 total reached around 17.9 lakh units.
The latest numbers indicate that electric two-wheelers are becoming an increasingly important part of India’s broader automobile market.
TVS Motor Retains Leadership With More Than 60,000 Registrations
TVS Motor Company emerged as the biggest seller in October, recording approximately 60,433 electric two-wheeler registrations.
The company’s sales nearly doubled compared with the corresponding month last year. Its market share increased to around 27%, compared with approximately 20.6% in October 2025.
TVS became the first Indian electric two-wheeler manufacturer to cross 60,000 monthly registrations.
The iQube remains an important product in the company’s electric vehicle portfolio. The company has also introduced the Orbiter, expanding its presence in the electric scooter market.
Strong demand has encouraged TVS to prepare for higher production capacity. The company has indicated plans to increase monthly capacity to approximately 80,000 units from the current level of around 60,000–65,000 units.
The expansion is intended to support both domestic demand and exports.
Bajaj Auto Maintains Second Position
Bajaj Auto recorded approximately 49,068 electric two-wheeler registrations in October, an increase of 51% compared with the previous year.
The company retained second position with a market share of around 22%.
Its Chetak electric scooter remains the primary driver of its electric two-wheeler business. The model has benefited from Bajaj’s established dealership network and brand presence in India’s scooter market.
However, production capacity has become an important consideration as demand increases. Bajaj has indicated plans to expand Chetak production capacity to approximately 80,000 units per month.
The company’s ability to increase output will influence how much additional demand it can convert into registrations over the coming months.
Ather Energy and Hero Vida Record Different Growth Trends
Ather Energy registered 31,796 electric two-wheelers in October, representing approximately 5% year-on-year growth.
Its market share was around 14%, lower than the approximately 20% recorded in October 2025. The decline in share does not necessarily indicate falling demand; it also reflects faster expansion by competitors.
Ather has indicated that manufacturing capacity has limited its ability to meet all customer demand. The company is expanding production capacity at its existing Hosur facility and developing additional manufacturing capacity in Maharashtra.
Hero MotoCorp’s Vida brand delivered a stronger performance. Its electric two-wheeler registrations reached approximately 29,936 units, an increase of around 81% year-on-year.
Vida’s market share rose to approximately 13.4%, compared with around 10.9% in October 2025.
Hero’s established dealer network and manufacturing capabilities provide an important advantage as it expands its electric mobility business.
Ola Electric Faces Increasing Competition
Ola Electric recorded 12,096 registrations in October, down 26% compared with the same month last year.
Its market share declined to approximately 5.4%, compared with around 10.9% a year earlier.
The performance contrasts with the company’s earlier position as one of India’s leading electric two-wheeler manufacturers.
Competition from TVS, Bajaj, Ather and Hero has intensified as established automobile manufacturers expand their electric scooter portfolios.
Ola must also address operational challenges, customer confidence and its ability to maintain consistent sales momentum.
The company’s October performance highlights how quickly market positions can change in an industry where new products, pricing, distribution and after-sales service influence purchasing decisions.
October 2026 Electric Two-Wheeler Sales: Manufacturer Comparison
| Manufacturer | October registrations | Year-on-year growth | Approx. market share |
|---|---|---|---|
| TVS Motor | 60,433 | 94% | 27.0% |
| Bajaj Auto | 49,068 | 51% | 22.0% |
| Ather Energy | 31,796 | 5% | 14.2% |
| Hero Vida | 29,936 | 81% | 13.4% |
| Ola Electric | 12,096 | -26% | 5.4% |
Source: Vahan registration data reported by Economic Times, Autocar India and Financial Express. Market shares are rounded and may vary slightly with registration updates and reporting cut-off times.
The comparison shows that the market’s growth is not evenly distributed. TVS and Bajaj are benefiting from strong demand and expanding production, while Hero is gaining ground. Ather’s growth is comparatively slower, and Ola’s registrations have declined.
Capacity Expansion Becomes the Next Industry Challenge
Rising demand is encouraging manufacturers to invest in additional production capacity.
TVS is targeting monthly capacity of approximately 80,000 electric two-wheelers. Bajaj is also working towards increasing Chetak production to around 80,000 units per month.
Ather has outlined plans to increase capacity at its Hosur facility and expand its upcoming Maharashtra manufacturing operations. The company has indicated that its combined annual capacity could eventually exceed one million units.
These investments reflect an important development in India’s EV market: demand is growing quickly enough that manufacturing capacity is becoming a competitive factor.
However, higher production alone will not guarantee market leadership. Manufacturers must also manage battery costs, supply-chain availability, service infrastructure, product reliability and pricing.
Festive Demand and New Models Support Adoption
October’s record registrations were supported by festive-season buying, when manufacturers and dealerships typically introduce promotional offers and attract customers through new product launches.
Electric scooters are also gaining attention because of their potential to reduce everyday fuel expenses. Higher petrol prices and the availability of models across different price points have encouraged more consumers to consider electric alternatives.
TVS, Bajaj, Ather and Hero are expanding their product offerings to reach customers with different budgets and usage requirements. Newer manufacturers are also attempting to establish themselves through distinctive designs, technology and distribution strategies.
The next challenge will be maintaining demand beyond the festive period. Consistent monthly registrations will provide a clearer indication of how much of October’s growth represents a lasting expansion in consumer adoption.
The Bigger Picture
India’s electric two-wheeler market is moving into a more competitive phase. The segment’s growth is attracting established automobile manufacturers, while EV-focused companies are being pushed to strengthen their products, distribution and service operations.
The increasing presence of traditional manufacturers also suggests that competition is no longer limited to electric vehicle startups. Companies with existing manufacturing infrastructure and dealer networks are using those advantages to expand their positions.
For consumers, this competition could result in more choices, improved technology and greater pressure on manufacturers to offer competitive prices. For the industry, the focus will increasingly shift towards production scale, battery supply, profitability and customer experience.
Looking Ahead
November will be an important month for the electric two-wheeler industry as festive purchases and new product demand continue to influence registrations. Manufacturers will also be watching whether production expansion allows them to convert waiting customers into completed sales. A sustained monthly performance above two lakh units would indicate that the market is building on October’s record rather than relying only on seasonal demand.
TVS and Bajaj will look to defend their leading positions, while Hero and Ather aim to expand their customer bases. Ola Electric, meanwhile, faces the challenge of rebuilding its market share amid stronger competition. India’s electric two-wheeler market has demonstrated its growth potential, but the next phase will test which companies can combine demand, manufacturing capacity and consistent customer service.
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