TVS Takes 2025 E-Two-Wheeler Lead as Bajaj Closes In, Ola’s Share Halves

Overview

• TVS closed 2025 as market leader at 24.2% with 2,95,315 electric two-wheelers registered.
• Bajaj Auto finished second with a 21.9% share, underscoring the resurgence of legacy manufacturers.
• Ola Electric slid to 16.1% with 1,96,767 units per Vahan data as reports flagged service delays and delivery inconsistencies.
• Ola posted a consolidated net loss of Rs 418 crore in Q2 FY26 and a 43% year-on-year revenue drop to Rs 690 crore, with shares showing extended declines.
• Ather climbed to 16.2% fueled by the Rizta, Hero’s Vida reached 8.8% with VX2 traction, and rare-earth supply pressures linked to China increased industry cost complexity.