India E2W registrations rebound 8.4% MoM to 1.70 Lakh in May; Ola Electric jumps 22%

May E2W registrations hit 1.70 Lakh units, up 8.4% MoM and 69% YoY. Legacy OEMs led the pack with TVS at 42,376 units, Bajaj at 39,104 and Hero at 19,044. Ola Electric rebounded 22% to 15,139 units (9% share) while Ather stalled at 28,190 units (-0.9%, 16.5% share). Smaller players slipped double digits.

— Source publishedMon, 1 Jun, 2026, 16:32 IST·First seen Mon, 1 Jun, 2026, 16:36 IST·Source Inc42

What happened

India's E2W registrations rebounded 8.4% MoM to 1.70 Lakh units in May, up 69% YoY. TVS, Bajaj, Hero led legacy OEMs; Ola Electric jumped 22% to 15,139 units

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%

Why this matters

Double-digit declines among smaller players against a rising market signal an imminent shakeout window to acquire distressed E2W brands, IP, or dealer networks at discounted multiples.