TVS widens EV two-wheeler lead in June as registrations rise 12.2% to 1.93 lakh units

India's EV two-wheeler registrations climbed 12.2% MoM to 1.93 lakh units in June. TVS Motor led with 46,999 units and 24.29% share, ahead of Bajaj (22.34%), Ather (16.12%), Hero (11.26%) and Ola (8.34%). Delhi's new EV policy adds incentives up to Rs 30,000, further fueling adoption.

— Source publishedWed, 1 Jul, 2026, 08:39 IST·First seen Wed, 1 Jul, 2026, 08:40 IST·Source Entrackr

What happened

TVS Motor · India's EV two-wheeler registrations rose 12.2% MoM to 1.93 lakh units in June. TVS led with 24.29% share, ahead of Bajaj, Ather, Hero and Ola.

Key facts

  • 1.93 lakh units total
  • 12.2% MoM growth
  • TVS 46,999 units 24.29% share
  • Bajaj 43,234 units 22.34% share
  • Ather 31,188 units 16.12% share
  • Hero 21,792 units 11.26% share
  • Ola 16,144 units 8.34% share
  • Rs 30,000 EV incentive

Why this matters

With TVS out front at 24.29% and Ola fading to 8.34%, consolidation and partnership opportunities are ripening—watch weaker players for acquisition or supply-chain tie-up angles as policy tailwinds intensify.

What to watch

  • July registration data confirming TVS lead durability vs one-month blip
  • Delhi EV policy final notification and disbursement mechanics
  • FAME-III / national subsidy signals affecting all-India demand
  • Battery/cell input cost trends impacting margin sustainability
  • Ola's service-network complaint volume and warranty claims
  • TVS/Bajaj expand dealer footprint into Tier-2/3 towns to lock incremental EV demand
  • Ola likely announces price cuts or new financing offers to defend the 8% floor
  • OEMs front-load capacity and inventory ahead of festive quarter (Q2/Q3)
  • Push for state-level incentive matching beyond Delhi to sustain momentum

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