Bajaj Auto overtakes TVS to lead India's electric two-wheeler market in June 2026
Bajaj Auto claimed an 18% share with 50,741 units, edging past TVS (47,952 units, 17%). Total E2W registrations rose 52% YoY to 2,85,385 units as penetration crossed 10.5%. Ather (10%) and Hero (7%) grew strongly, while Ola Electric slipped to 15,096 units.
The brand move
Bajaj Auto overtook TVS to lead India's electric two-wheeler market in June 2026, as E2W penetration crossed 10.5%. Total registrations rose 52% YoY; Ather and Hero grew strongly while Ola Electric declined.
The numbers
- 50,741 units (18% share) Bajaj
- 47,952 units (17%) TVS
- 29,423 units (10%) Ather
- 20,218 units (7%) Hero
- 15,096 units Ola
- 2,85,385 total E2W units, +52% YoY
- 10.5% penetration
Why it matters for the brand
The reshuffle—Bajaj and TVS clustered near 17-18% with Ather (10%) and Hero (7%) rising and Ola fading—creates partnership, supply-chain, and consolidation openings as scaled incumbents pull ahead of pure-play challengers.
What to track next
- Monthly VAHAN registration share swings between Bajaj and TVS
- Subsidy/FAME-III policy or GST changes on E2W
- Ola Electric quarterly volumes and any further share collapse
- Battery cost and lithium price movements
- New model launches and warranty/service complaint trends
- Bajaj likely to expand Chetak variant lineup and aggressively grow dealer footprint to defend #1
- TVS to counter with new iQube refresh and financing incentives to reclaim lead
- Ola to push price cuts and service-network expansion to stem outflow
- Ather/Hero to scale capacity and broaden into smaller cities
- Watch for component/battery sourcing localization to protect margins