EV two-wheeler sales jump 58% YoY in May 2026; TVS leads, Ola halves
India's electric two-wheeler registrations hit 1.64 lakh units in May 2026, up 58% YoY and 18% MoM, as fuel supply anxiety post West Asia conflict pulled buyers in. TVS leads with 25% share (41,489 units), Bajaj at 23%, Ather doubled to 17%, while Ola Electric's share halved to 9%.
The brand move
India EV two-wheeler registrations rose 58% YoY to 1.64 lakh units in May 2026, driven by fuel supply anxiety post West Asia conflict. TVS leads at 25% share; Ather doubled to 17%; Ola Electric share halved to 9%.
The numbers
- 1.64 lakh units May 2026
- 58% YoY growth
- 18% MoM growth
- TVS 41,489 units 25% share
- Bajaj 38,005 units 23% share
- Ather 27,523 units 17% share
- Hero 18,253 units 11% share
- Ola 14,752 units 9% share
Why it matters for the brand
Ather doubling to 17% share makes it the breakout strategic asset in EV two-wheelers, while Ola's halving to 9% opens a distressed-partnership or acqui-window worth scoping.