E2W Registrations Rebound 8.4% In May; Ola Electric Surges 22% As TVS Holds Lead

India's electric two-wheeler market clocked 1.70 lakh units in May, up 8.4% MoM and 69% YoY. TVS Motor led with 42,376 units, followed by Bajaj at 39,104 and Hero at 19,044. Ola Electric rebounded 22% to 15,139 units but market share slipped to ~9%, while Ather held flat at 28,190 units with 16.5% share.

— Source publishedMon, 1 Jun, 2026, 16:32 IST·First seen Mon, 1 Jun, 2026, 16:35 IST·Source Inc42 · Buzz

What happened

India E2W registrations rebounded 8.4% MoM to 1.70 lakh units in May. TVS leads with 42,376 units; Ola Electric jumped 22% to 15,139 units; Ather flat; smaller

Key facts

  • 1.70 Lakh units May
  • 8.4% MoM
  • 69% YoY
  • TVS 42,376 units
  • Bajaj 39,104 units
  • Hero 19,044 units
  • Ola 15,139 units +22%
  • Ather 28,190 units -0.9%
  • Ola market share ~9%
  • Ather 16.5%
  • Vida sub-₹1 Lakh

Why this matters

Ather's flat 28K units at 16.5% share and Ola's share slide create a window to evaluate partnership or consolidation plays among sub-scale challengers before TVS-Bajaj duopoly dynamics harden.

Also reported by