India’s electric two-wheeler (E2W) market remained resilient in July 2026, with registrations staying above 1.93 lakh units, but the competitive landscape continued to shift. TVS Motor widened its lead to become the clear market leader, while Ola Electric and Ather Energy recorded notable month-on-month declines in registrations. The latest Vahan data highlights a market where established automakers are strengthening their positions as newer entrants face increasing competitive pressure.
TVS was the standout performer, crossing 50,000 monthly registrations for the first time and extending its lead over rivals. Meanwhile, Bajaj Auto maintained its second-place ranking, while Ather and Ola saw sales decline despite retaining positions among the top five EV two-wheeler manufacturers.
TVS Strengthens Leadership in July
According to Vahan registration data:
- TVS Motor registered 52,538 electric two-wheelers.
- Market share increased to 27.15%.
- Registrations grew 10.8% month-on-month, adding 5,125 units over June.
The strong performance further solidified TVS’s leadership in India’s rapidly expanding electric scooter market.
July 2026 EV Two-Wheeler Market Leaders
| Rank | Company | Registrations | Market Share | MoM Change |
|---|---|---|---|---|
| 1 | TVS Motor | 52,538 | 27.15% | +10.8% |
| 2 | Bajaj Auto | 43,607 | 22.53% | Marginal increase |
| 3 | Ather Energy | 28,819 | 14.89% | -8.3% |
| 4 | Hero MotoCorp | 21,174 | 10.94% | -3.3% |
| 5 | Ola Electric | 13,170 | 6.80% | -19% |
Source: Vahan registration data
Ola Electric Records One of the Sharpest Declines
Ola Electric remained fifth in the rankings but posted one of the steepest declines among the leading manufacturers.
Key figures include:
- 13,170 registrations in July.
- 6.80% market share.
- 19% month-on-month decline.
- Sales fell by 3,079 units compared with June.
The decline reflects continued competitive pressure as legacy automakers and newer rivals expand their EV portfolios.
Ather Also Sees Sales Drop
Ather Energy retained third place despite weaker monthly performance.
The company reported:
- 28,819 registrations.
- 14.89% market share.
- 8.3% month-on-month decline.
- 2,616 fewer registrations than in June.
Although registrations fell, Ather maintained a significant lead over Hero MotoCorp in the overall rankings.
Bajaj and Hero Hold Their Positions
Bajaj Auto continued to strengthen its presence in the premium electric scooter segment.
Highlights include:
- 43,607 registrations.
- 22.53% market share.
- Registrations remained broadly stable compared with June.
Hero MotoCorp remained fourth with:
- 21,174 registrations.
- 10.94% market share.
- A modest 3.3% month-on-month decline.
Other Notable Performers
Several smaller EV manufacturers posted strong monthly growth.
Among them:
- BGauss recorded the highest growth among the top 10, with registrations rising 33.9% to 5,324 units.
- River Mobility grew 24.8%, reaching 5,554 registrations.
- Simple Energy increased registrations by 11.2% to 1,532 units.
- Lectrix EV entered the top 10 after a 22.8% increase to 1,335 registrations.
What the Numbers Indicate
The July registration data highlights several emerging industry trends:
- Legacy manufacturers continue gaining market share.
- Competition is becoming more balanced after earlier dominance by startups.
- Customer preferences increasingly favor brands with strong dealership and service networks.
- The overall EV two-wheeler market remains healthy, with registrations staying above 1.93 lakh units despite mixed company-level performance.
Looking Ahead
July 2026 reinforced TVS Motor’s position as the leader in India’s electric two-wheeler market, with the company crossing 50,000 monthly registrations and expanding its lead over competitors. Bajaj Auto maintained its strong momentum, while Ola Electric and Ather Energy experienced month-on-month declines, reflecting the increasingly competitive nature of India’s EV industry. At the same time, emerging brands such as BGauss and River Mobility demonstrated that newer players can still gain traction through focused product strategies and steady execution.
Looking ahead, competition is expected to intensify as manufacturers introduce new models, expand charging and service infrastructure, and compete on pricing, technology, and after-sales support. While overall EV adoption remains strong, sustained leadership is likely to depend not only on product innovation but also on manufacturing scale, distribution reach, and customer experience in an increasingly crowded market.
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