India Electric Two Wheeler Market: The nation’s transition to renewable energy and electric mobility is fuelling the explosive expansion of the Indian electric two-wheeler market. Government programs and financial aid intended to encourage the use of electric vehicles (EVs) have led to an increase in the use of electric two-wheelers, particularly electric scooters. Jefferies project that by FY 2027, the percentage of electric two-wheelers in the two-wheeler market in India will be increased to 13% from 5% in FY 2024. This article focusses on three electric companies that have profited substantially from the recent growth in the Indian market for electric two-wheelers.
Top 3 Indian Electric Two Wheeler Companies
1. Ola Electric
Ola Electric has had a significant influence on the electric scooter market in India. The company has managed to secure a substantial portion of the Indian Electric Two Wheeler Market, despite only recently going public. In FY 2023-24, Ola’s market share skyrocketed from 21% to 35%, and by the first quarter of FY 2024-25, it further increased to an impressive 49%.
But when competition grew and incentives changed, Ola Electric’s share fell to 29% in September 2024. It continues to be an established name in the industry despite this downturn, greatly influencing the rising demand for electric scooters.
2. Bajaj
A well-known brand in India’s two-wheeler market, Bajaj has entered the electric scooter market with success. Benefiting from the expanding Indian Electric Two Wheeler Market, Bajaj has become progressively more visible in the industry. The company has gained between 5 and 9 percentage points since June 2024 thanks to its emphasis on innovation and client satisfaction.
With the Chetak and other electric scooters, Bajaj is not only serving urban commuters but also providing a dependable and environmentally responsible substitute for conventional fuel-powered automobiles. It is anticipated that the company’s dedication to growing its electric portfolio will strengthen its position in the electric two-wheeler market.
3. TVS
TVS is another company that has profited greatly from the revolution in electric two-wheelers. With the iQube series, TVS, a company well-known for its proficiency in the two-wheeler sector, ventured into the electric scooter market. The company’s reliable and reasonably priced products have contributed to a continuous rise in its market share.
TVS has been able to take advantage of the growing demand for environmentally friendly transportation due to its focus on providing high-quality and performance-driven electric scooters. In order to provide the Indian market with more sophisticated and reasonably priced electric two-wheelers, the company keeps funding research and development.
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