Yet another scooter incumbent has taken the top spot in the India electric two-wheeler race.
TVS has become the top-selling electric two-wheeler company in April 2025. This is the first time that that TVS has taken the top spot. Ola was placed second, one spot higher than the third spot it had been placed at last month.
In April, TVS, Ola and Bajaj were neck to neck in terms of scooters sold. TVS was first, selling 19,736 scooters. It was closely followed by Ola, which sold 19,709 scooters — a difference of just 27 scooters separated the top two players. At third place was Bajaj, which sold 19,001 scooters. At fourth place was Ather, slated to go public later this month, which sold 13,167 scooters. In fifth place was Hero Motocorp, which sold recorded 6,123 sales.
This represented a shake-up from last month, which had seen Bajaj take the top spot. Bajaj had been followed by TVS, and Ola was placed third. This month, TVS rose two spots to take first place; Ola went up a spot to take second, and Bajaj fell two spots from first to third.
But this is still a major turnaround for the two incumbents in the electric two-wheeler market. Until June last year, Ola held a more than 50 percent share in the electric scooter space. But as Ola faced bad publicity around service issues of its scooters, and Bajaj and TVS aggressively began marketing their own scooters, the two incumbents had been eating away at Ola’s share. In January this year, Ola had been dethroned from the top spot for the first time. Ola had regained the top spot next month, but has been placed third and second in the two months that have followed.
And one would think that it’s advantage incumbents at this point in the electric two-wheeler space. Ola had moved quickly, and created the electric scooter market a few years ago. But as the incumbents have hit their stride, they can use their brand-recognition and their massive dealer networks to make electric scooters really mainstream. Ola and Ather had been the first movers in the electric scooter space, but they’ll have to differentiate themselves, either in quality or price, to take on the larger players who are now threatening to run away with the electric scooter market.