India's electric two-wheeler sales hit 1.81 lakh in June, up 64% YoY as TVS leads, Ola slides
June EV two-wheeler registrations rose 64% YoY to 1,81,168 units, the segment's second-best month at over 6,000/day and 10.5% share. TVS led with 44,474 units (+66%), followed by Bajaj at 40,576 and Ather at 29,422. Hero surged 155% to 20,218, while Ola Electric fell 27% to 15,096. New Delhi incentives are expected to fuel further adoption.
What happened
TVS Motor · India's electric two-wheeler registrations rose 64% YoY to 1.81 lakh in June, the segment's second-best month. TVS led with 25% share, Hero surged
Key facts
- 1,81,168 units June
- 64% YoY growth
- 6,000/day
- 10.5% E2W share
- TVS 44,474 units +66%
- Bajaj 40,576
- Ather 29,422
- Hero 20,218 +155%
- Ola 15,096 -27%
- Delhi incentives ₹30,000/₹20,000/₹10,000
Why this matters
Consolidating leadership among legacy OEMs (TVS, Bajaj, Hero) versus a stumbling Ola creates a window for partnership, supply-chain, or distressed-asset plays as Delhi incentives accelerate the next adoption wave.
What to watch
- Monthly VAHAN registration data for share shifts and Ola trajectory
- Specifics and timing of New Delhi incentive scheme (PM E-Drive/state subsidies)
- Ola Electric quarterly results, service-complaint metrics, and any guidance cut
- Battery/cell price trends and localization announcements
- EV share crossing 12% threshold or stalling near 10-11%
- TVS/Bajaj push new model variants and aggressive financing to lock in share gains
- Ola Electric likely responds with price cuts, network expansion claims, or marketing reset to stem slide
- Hero accelerates Vida lineup and dealer rollout to ride 155% momentum
- Component/battery suppliers expand India capacity to meet >6,000/day run-rate
- Legacy ICE two-wheeler players accelerate EV roadmaps to defend 10.5% share erosion