India’s electric two-wheeler market is undergoing a major leadership shift in 2026. A segment once dominated by EV-focused start-ups is now increasingly controlled by established manufacturers, with TVS Motor and Bajaj Auto emerging as the country’s two biggest electric two-wheeler brands. Provisional Vahan registration data for August 1–26 shows that the combined TVS and Bajaj EV Market Share reached approximately 50.3%. In practical terms, nearly one in every two electric two-wheelers registered in India during this period came from TVS or Bajaj.
TVS and Bajaj Cross the 50% Market-Share Mark
India recorded 146,770 electric two-wheeler registrations between August 1 and August 26, 2026. TVS Motor retained the number-one position with 40,349 registrations, representing a 27.5% market share.
Bajaj Auto secured second place with 33,422 registrations and a 22.8% share. Together, the two legacy manufacturers accounted for more than 73,700 electric two-wheelers during the provisional reporting period.
The combined TVS and Bajaj EV Market Share increased from approximately 49.4% in July to 50.3% in August. This happened even as overall industry registrations were reportedly running below July’s exceptionally strong volumes.
August 2026 Electric Two-Wheeler Market Share
| Manufacturer | Registrations: August 1–26 | August share | July share |
|---|---|---|---|
| TVS Motor | 40,349 | 27.5% | 27.1% |
| Bajaj Auto | 33,422 | 22.8% | 22.3% |
| Ather Energy | 23,542 | 16.0% | 14.9% |
| Hero Vida | 14,388 | 9.8% | 11.2% |
| Ola Electric | 10,400 | 7.1% | Not stated |
| Others | 24,669 | 16.8% | Not stated |
These numbers are based on Vahan registrations reported up to August 26 and should not be treated as final full-month figures.
Later estimates covering the complete month placed TVS at approximately 48,875 registrations and Bajaj at about 41,018 units. The difference between the two datasets is largely due to their different reporting periods.
TVS Strengthens Its Position at the Top
TVS Motor’s electric mobility journey has gained significant momentum. The company has transformed the iQube from an early electric scooter offering into one of India’s highest-volume EV products. Its expanding portfolio is also helping TVS address customers across multiple price and usage categories.
The company reportedly crossed 11.27 lakh cumulative domestic electric two-wheeler registrations, overtaking Ola Electric on this metric.
TVS registered approximately 353,242 electric two-wheelers between January and August 2026, giving it a year-to-date share of around 26%. It had already surpassed its entire CY2025 volume of 315,081 units before August ended.
These numbers indicate that TVS is no longer simply participating in India’s EV transition—it is setting the pace in the electric scooter market.
Bajaj Chetak Emerges as a Volume Challenger
Bajaj Auto’s rapid growth has been driven primarily by the expanding Chetak electric scooter range. Once positioned mainly as a premium electric scooter, the Chetak family now covers more price points, enabling Bajaj to compete for value-conscious, mainstream customers.
Bajaj crossed three lakh electric two-wheeler registrations in CY2026 on August 30. Its January–August total reached approximately 302,179 units, including Chetak scooters and Yulu-linked electric vehicles.
That represented growth of around 68% compared with approximately 180,209 registrations during the corresponding 2025 period. Bajaj also surpassed its full-year CY2025 EV volume of 279,685 units before August 2026 ended.
Its year-to-date market share stood at approximately 22%, placing the company firmly behind TVS but comfortably ahead of several major rivals.
Ather Becomes the Strongest Challenger
Ather Energy remained the strongest challenger to the two market leaders. The company recorded 23,542 registrations between August 1 and 26, giving it a 16% market share—up from 14.9% in July.
Full-month estimates placed Ather’s August volume at approximately 28,708 units. Strong demand for the family-focused Rizta has helped the company appeal to a wider customer base beyond performance-oriented electric scooter buyers.
Hero Vida maintained a significant presence, although its provisional market share declined from 11.2% in July to 9.8% in August. It recorded 14,388 units through August 26, while full-month estimates placed its volume near 18,977 units.
Ola Electric registered approximately 10,400 units during August 1–26, representing a 7.1% market share. Full-month estimates placed its registrations at around 13,849 units, leaving the former market leader with roughly a 7%–8% share.
Why Are TVS and Bajaj Winning India’s EV Race?
The rising TVS and Bajaj EV Market Share reflects a change in how Indian consumers evaluate electric scooters. Buyers are increasingly considering the same factors that influence conventional two-wheeler purchases, including:
- Brand reputation and long-term reliability
- Availability of physical dealerships
- Nationwide service and repair networks
- Financing and ownership options
- Spare-parts availability
- Battery performance and real-world range
- Resale confidence and after-sales support
TVS and Bajaj benefit from decades of manufacturing experience, supplier relationships, and customer trust. Their ability to combine competitive electric scooters with extensive sales and service networks gives them an advantage that EV start-ups may find difficult to replicate quickly.
India’s Electric Scooter Battle Enters a New Era
The August 2026 numbers show that India’s electric two-wheeler industry is moving beyond its start-up-led phase. Established manufacturers are converting their traditional strengths into electric mobility leadership, while newer brands face growing pressure to improve products, service quality, and customer support.
However, the market is not yet a two-company contest. Ather continues to gain ground, while Hero, Vida, Ola Electric, and other manufacturers remain important competitors.
The TVS and Bajaj EV Market Share reaching approximately 50% is, nevertheless, a defining industry milestone. India’s EV race is now being shaped by scale, product diversification, trusted brands, and dependable ownership experiences—and the competition is likely to become even more intense.
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