EV two-wheeler sales jump 58% YoY to 1.64 lakh in May; TVS leads, Ola halves
India's electric two-wheeler registrations surged 58% YoY and 18% MoM to 1.64 lakh units in May 2026, with analysts citing fuel-supply anxiety post West Asia conflict. TVS Motor leads at 25% share (41,489 units), Bajaj follows at 23%, while Ather doubled volumes (96% YoY) to 17%. 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 with 25% share; Ather doubled volumes while Ola Electric's 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 96% YoY
- Hero 18,253 units 11% share
- Ola 14,752 units 9% share
Why it matters for the brand
Scout bolt-on targets in EV 2W charging, battery-swap, and aftermarket service ecosystems now that 58% YoY volume growth makes adjacent unit economics viable.