India’s electric two-wheeler market staged a strong recovery in September 2026, with registrations rising more than 12% month-on-month to around 2.07 lakh units, compared with 1.85 lakh units in August. TVS retained the EV two-wheeler lead in September, while Bajaj Auto and Hero MotoCorp recorded significantly stronger monthly growth. According to the latest Vahan registration data,
TVS Motor remained the largest electric two-wheeler manufacturer, followed by Bajaj Auto and Ather Energy. The September rebound also highlighted the growing strength of established two-wheeler manufacturers, while Ola Electric continued to lose market share despite remaining among India’s leading EV brands.
Electric Two-Wheeler Market Rebounds in September
India’s electric two-wheeler segment recorded a notable improvement in September, with total registrations climbing from approximately 1.85 lakh units in August to 2.07 lakh units in September.
The recovery came as several major manufacturers reported higher monthly registrations. TVS Motor, Bajaj Auto, and Hero MotoCorp were among the key companies driving the growth, strengthening the position of established two-wheeler manufacturers in the electric mobility market.
September 2026 EV Two-Wheeler Highlights
- Total registrations: Around 2.07 lakh units
- Monthly growth: More than 12% over August
- TVS Motor registrations: 53,989 units
- Bajaj Auto registrations: 48,383 units
- Ather Energy registrations: 30,479 units
- Hero MotoCorp registrations: 24,306 units
- Ola Electric registrations: 13,449 units
- TVS market share: 26.06%
- Bajaj market share: 23.51%
TVS Motor Holds the Top Spot
TVS Motor continued to lead India’s electric two-wheeler market in September with 53,989 registrations, giving the company a 26.06% market share.
The manufacturer recorded a 9.55% month-on-month increase from 49,284 units in August. The latest performance allowed TVS to retain its position at the top of the electric two-wheeler registration chart.
TVS retains the EV two-wheeler lead in September despite strong competition from Bajaj Auto and other established manufacturers.
The company’s performance also comes as traditional two-wheeler manufacturers continue to expand their presence in India’s rapidly developing electric mobility market.
Bajaj Auto Closes Gap With TVS
Bajaj Auto remained in second place with 48,383 electric two-wheeler registrations, translating into a 23.51% market share.
The company recorded approximately 17% month-on-month growth, adding more than 7,000 registrations compared with August.
The strong increase puts Bajaj considerably closer to TVS in the September rankings and underlines the growing competition among established manufacturers in India’s electric two-wheeler segment.
Ather Energy Maintains Third Position
Ather Energy occupied the third position with 30,479 registrations and a 14.71% market share in September.
Its registrations increased by nearly 5% month-on-month, compared with 29,068 units in August.
Ather therefore maintained a strong position among India’s leading electric two-wheeler manufacturers, supported by its expanding product portfolio, including models such as the Rizta.
Hero MotoCorp Records Strong Growth
Hero MotoCorp was among the fastest-growing major manufacturers during the month.
Its electric two-wheeler registrations jumped 27% month-on-month, increasing from 19,144 units in August to 24,306 units in September. The company captured an 11.73% market share during the month.
The growth was driven by its Vida electric mobility business, highlighting the increasing contribution of legacy two-wheeler manufacturers to India’s EV market.
Some supplied September compilations cite 23,790 units for Hero Vida, with Vida accounting for approximately 11.5% of the market. The detailed Vahan figures provided for this report record 24,306 registrations.
Ola Electric Remains in Fifth Place
Ola Electric continued to occupy fifth position in September, recording 13,449 registrations and a 6.49% market share.
Unlike the other major manufacturers in the top five, Ola was the only company in this group to register a month-on-month decline. Its registrations fell 3.53% from 13,941 units in August.
This marks a significant change from the period when Ola Electric was one of the dominant names in India’s electric scooter market.
Another data compilation puts Ola’s September registrations at 13,243 units and its market share at around 6.4%. The detailed Vahan figure of 13,449 units has been used for the main ranking.
Greaves, River, and BGauss Continue to Grow
Greaves Electric Mobility recorded 9,316 registrations in September, giving it approximately 4.5% market share. Its registrations increased around 8% compared with August.
River Mobility followed with 5,549 registrations, representing a 6.4% monthly increase.
BGauss remained relatively stable, registering 5,023 electric two-wheelers during September.
These manufacturers continue to contribute to the expanding range of electric two-wheelers available in India’s increasingly competitive EV market.
Smaller EV Makers See Sharp Registration Gains
Some smaller manufacturers recorded particularly strong month-on-month growth.
Bounce Electric nearly tripled its registrations, rising from 1,049 units in August to 3,069 units in September.
Meanwhile, E-Sprinto Green Energy recorded an even sharper increase, with registrations climbing to 1,997 units from just 120 units in the previous month.
Although their overall volumes remain significantly smaller than those of the market leaders, such increases indicate that competition is expanding beyond the largest electric two-wheeler manufacturers.
September 2026 EV Two-Wheeler Leaderboard
| Manufacturer | September Registrations | Market Share | Monthly Trend |
|---|---|---|---|
| TVS Motor | 53,989 | 26.06% | +9.55% |
| Bajaj Auto | 48,383 | 23.51% | +17% |
| Ather Energy | 30,479 | 14.71% | Nearly +5% |
| Hero MotoCorp | 24,306 | 11.73% | +27% |
| Ola Electric | 13,449 | 6.49% | -3.53% |
| Greaves Electric Mobility | 9,316 | 4.5% | +8% |
| River Mobility | 5,549 | — | +6.4% |
| BGauss | 5,023 | — | Largely flat |
Established Automakers Strengthen Their EV Position
One of the most important trends from the September registration data is the growing influence of established internal-combustion-engine two-wheeler manufacturers in India’s electric vehicle market.
TVS Motor, Bajaj Auto, and Hero MotoCorp collectively accounted for a substantial portion of September’s electric two-wheeler registrations. Their performance indicates that competition in the segment is increasingly coming from companies with established manufacturing, distribution, and brand networks.
At the same time, Ather continues to maintain a sizeable share, while several smaller EV manufacturers are attempting to expand their volumes.
What September EV Sales Mean for India
The September recovery provides a positive signal for India’s electric two-wheeler industry after the softer August performance.
TVS retains EV two-wheeler lead in September, but Bajaj’s faster monthly growth has narrowed the gap between the two companies. Hero MotoCorp also posted one of the strongest increases among major players, while Ola Electric experienced another month of declining registrations.
The market data suggests that India’s electric two-wheeler competition is becoming increasingly broad-based, with both traditional manufacturers and EV-focused companies competing for buyers.
Key Takeaways
- India’s electric two-wheeler registrations crossed 2 lakh units in September.
- The market grew more than 12% month-on-month.
- TVS Motor remained the market leader with 53,989 registrations.
- Bajaj Auto was second with 48,383 registrations.
- Ather Energy held third position with 30,479 registrations.
- Hero MotoCorp posted 27% monthly growth.
- Ola Electric was the only top-five manufacturer to record a monthly decline.
- Bounce Electric and E-Sprinto recorded sharp increases among smaller players.
Bottom Line
September 2026 marked a strong rebound for India’s electric two-wheeler market. TVS retained the EV two-wheeler lead in September with more than 53,000 registrations, while Bajaj Auto continues to close the gap with strong monthly growth. Hero MotoCorp also gained significant momentum, whereas Ola Electric remained under pressure.
With registrations rising above 2 lakh units and competition intensifying across established and emerging manufacturers, India’s electric two-wheeler market is entering another closely contested phase.
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