India’s electric two-wheeler (E2W) – BoV and Pure EV – industry maintained its rapid growth momentum in June 2026, with registrations surging 74 per cent year-on-year to 1.91 lakh units, compared to 1.09 lakh units in the same month last year, according to Vahan registration data collated at 9 a.m. on July 1.
The standout development was the E2W penetration crossing the 10 per cent mark for the first time, underscoring the sector’s transition from early adoption to broader market acceptance, Poonam Upadhyay, Director, Crisil Ratings, said.
TVS tops list
TVS Motor Company retained its position as the country’s largest electric two-wheeler maker, registering 46,999 units during the month to capture a 25 per cent market share, up marginally from 24.36 per cent in June 2025, when it sold 26,704 units, according to Vahan registration data.
Bajaj Auto emerged as a close challenger, reporting 43,234 units and increasing its market share to 23 per cent from 21.88 per cent a year ago. The company had registered 23,986 units in June 2025.
Ather Energy continued its strong growth trajectory, with registrations nearly doubling to 31,143 units from 15,871 units a year earlier. Its market share improved to 16 per cent from 14.48 per cent, consolidating its position as the third-largest player.
Hero MotoCorp posted the sharpest growth among the leading manufacturers. Its electric two-wheeler registrations jumped to 21,761 units, nearly three times the 7,902 units recorded in June last year, lifting its market share to 11 per cent from 7.21 per cent.
In contrast, Ola Electric continued to lose market share despite the expanding industry. Its registrations declined to 16,144 units from 20,697 units in June 2025, with its market share dropping sharply to 8 per cent from 18.88 per cent.
Rapid growth
The June performance underscores the rapid expansion of India’s electric two-wheeler market, driven by growing consumer adoption and intensifying competition among established automakers and EV-focused manufacturers. While TVS, Bajaj, Ather and Hero gained ground, Ola Electric ceded further market share as rivals strengthened their product portfolios and distribution networks.
Improving affordability on total cost-of-ownership basis, wider model availability and stronger participation by established OEMs continue to support adoption. The rise in penetration from 7.3 per cent in June 2025 and 9.3 per cent in May 2026 to ~ 10.5 per cent in June 2026, alongside robust growth in registrations, highlights the sustained momentum in EV adoption and reinforces the increasing mainstream acceptance of E2W within the broader mobility market, Upadhyay said.