India’s electric two-wheeler market opened in January 2026 with over 1.15 lakh registrations (≈115,800 units) across major brands, marking a sharp year-on-year expansion and signalling renewed demand alongside accelerating EV adoption across segments.
Market leadership remains concentrated, with legacy brands – TVS Motor, Bajaj Auto, and Ather Energy collectively accounting for a dominant share of total registrations, underscoring the growing maturity of established EV portfolios.
Hero MotoCorp delivered exceptional scaling momentum, reflecting the rapid acceptance of its expanding EV lineup.
In contrast, Ola Electric registered a notable year-on-year contraction, pointing to an ongoing recalibration phase.
Meanwhile, emerging and mid-tier manufacturers such as Ampere, River Mobility, and BGauss posted strong growth, indicating a more competitive and diversified landscape.
Based on Vahan Dashboard registrations (January 2026), the sector is showing structural growth rather than seasonal volatility, suggesting that if current demand momentum sustains, 2026 could shape up as a record year for electric two-wheeler adoption driven by product depth, affordability improvements, and wider geographic penetration.
Electric Two-Wheeler Sales Overview – January 2026
| Manufacturer | Jan 2026 Sales | Jan 2025 Sales | YoY Change |
|---|---|---|---|
| TVS Motor | 34,440 | 24,027 | +43.3% |
| Bajaj Auto | 25,520 | 21,470 | +18.9% |
| Ather Energy | 21,923 | 13,097 | +67.4% |
| Hero MotoCorp | 13,274 | 1,626 | +716% |
| Ola Electric | 7,512 | 24,413 | –69.2% |
| Ampere | 5,336 | 3,638 | +46.7% |
| River Mobility | 2,574 | 611 | +321.3% |
| BGauss Auto | 2,475 | 1,451 | +70.6% |
| E-Sprinto Green | 2,033 | 125 | — |
| PUR Energy | 685 | 1,651 | –58.5% |
Source: Vahan Dashboard
Market Snapshot – January 2026
-
TVS Motor retained market leadership with strong YoY expansion
-
Bajaj Auto maintained stable growth and consistent demand
-
Ather Energy delivered one of the strongest premium-segment gains
-
Hero MotoCorp recorded breakout growth as Vida volumes scaled
-
Ola Electric registrations declined sharply year-on-year
-
Mid-tier players showed rapid adoption and widening market participation
Top 10 Electric Two-Wheeler Companies – January 2026
#1 TVS Motor – 34,440 units
TVS led January 2026 EV sales with the TVS iQube comfortably at the top, setting its highest monthly registrations ever and reinforcing its broad appeal across urban buyers.
Alongside the iQube, the newer TVS Orbiter has also begun contributing meaningful volumes, helping TVS extend its range and customer reach.
The company is exploring capacity expansion to meet demand.
#2 Bajaj Auto – 25,520 units
Bajaj’s EV performance continues to be powered by the Bajaj Chetak family, with the newly launched Chetak C2501 expanding affordability and competitive value.
The Chetak line remains the core volume driver, especially in metro and Tier-1 markets, sustaining Bajaj’s #2 position
#3 Ather Energy – 21,923 units
Ather’s sales strength in January was anchored by models such as the Ather Rizta and 450 series – premium two-wheelers with strong feature sets.
Ather’s focus on charging infrastructure plus expanded showroom presence supports growing uptake in 2026.
#4 Hero MotoCorp – 13,274 units
Hero emerged as the fastest-scaling major OEM, with a dramatic YoY surge driven by accelerating Vida adoption.
Hero’s Vida range, especially the Vida VX2, has become its best-selling EV, contributing to a remarkable YoY surge. Hero is also launching additional variants and expanding retail touchpoints, translating long-term ICE market strength into the EV segment.
#5 Ola Electric – 7,512 units
Once arguably the most visible EV brand with models like the Ola S1 Pro and S1 X, Ola’s monthly registrations have slipped sharply. Despite strong historical presence and recognised models with long claimed ranges, the brand is now battling a rapid slide in volumes and share.
Ola Electric has shifted from being a former volume leader to now sitting at #5, reflecting a sharp change in market momentum. The steep year-on-year decline suggests execution and structural challenges that competitors have capitalised on.
If the company does not stabilise operations, strengthen distribution, and rebuild buyer confidence, it risks losing further ground in an increasingly competitive EV landscape.
#6 Ampere – 5,336 units
Ampere’s lineup – including commuter-friendly scooters such as the Ampere Nexus and variants – continues to attract cost-sensitive buyers, contributing to good YoY growth. Competitive pricing and simplicity help maintain relevance in regional and wider markets.
#7 River Mobility – 2,574 units
River’s Indie scooter has carved a niche with solid utility and urban appeal, driving its high triple-digit YoY growth.
Steady deliveries and consistent model offerings signal strong fundamentals for further brand awareness.
#8 BGauss Auto – 2,475 units
BGauss has posted steady growth, led by models geared toward both urban commuters and value-focused buyers. While scale remains smaller relative to larger incumbents, the growth trajectory remains constructive.
#9 E-Sprinto Green – 2,033 units
E-Sprinto expanded rapidly from a small base, signalling rising demand for affordable EV options in regional markets. E-Sprinto continues to find demand in the affordable EV segment with straightforward, cost-effective scooters tailored to entry-level buyers.
#10 PUR Energy – 685 units
PUR Energy saw a YoY contraction, likely due to intensified competition in the lower end of the market. Product refresh and a clearer value proposition may shape its near-term prospects.
Final Thoughts – January 2026
January 2026 highlights a structurally strengthening EV two-wheeler market driven by product expansion, affordability improvements, and deeper regional penetration.
Key takeaways:
-
TVS extended its leadership with strong volume growth
-
Ather and Hero emerged as high-momentum performers
-
Bajaj maintained steady structural demand
-
Ola continued to recalibrate amid market pressure
-
Mid-tier brands accelerated adoption from smaller bases
The trajectory suggests India’s EV market is entering a broader adoption phase, increasingly shaped by ecosystem maturity, product diversification, and execution discipline rather than seasonal demand spikes.
FAQs
#faqsu-faq-list {
background: #F0F4F8;
border-radius: 5px;
padding: 15px;
}
#faqsu-faq-list .faqsu-faq-single {
background: #fff;
padding: 15px 15px 20px;
box-shadow: 0px 0px 10px #d1d8dd, 0px 0px 40px #ffffff;
border-radius: 5px;
margin-bottom: 1rem;
}
#faqsu-faq-list .faqsu-faq-single:last-child {
margin-bottom: 0;
}
#faqsu-faq-list .faqsu-faq-question {
border-bottom: 1px solid #F0F4F8;
padding-bottom: 0.825rem;
margin-bottom: 0.825rem;
position: relative;
padding-right: 40px;
}
#faqsu-faq-list .faqsu-faq-question:after {
content: “?”;
position: absolute;
right: 0;
top: 0;
width: 30px;
line-height: 30px;
text-align: center;
color: #c6d0db;
background: #F0F4F8;
border-radius: 40px;
font-size: 20px;
}