Bajaj Auto has achieved a milestone in India’s electric two-wheeler (e2W) industry, recording its highest-ever monthly sales of 34,863 Chetak scooters in March 2025. This remarkable achievement has propelled Bajaj’s total retail sales for FY2025 to 230,761 units, reflecting an impressive 116% year-on-year (YoY) growth from FY2024’s 106,624 units. The automaker now holds a commanding 20% market share, nearly doubling from 11% last year.
India’s Electric Two-Wheeler Boom
The Indian e2W industry has also witnessed a record-breaking fiscal year, with total retail sales reaching 1.14 million units—a robust 21% increase from the previous year. March 2025 emerged as the second-highest sales month in FY2025, with 130,274 electric two-wheelers sold, trailing only October 2024’s festive sales of 140,221 units.
The top 10 e2W manufacturers collectively sold 124,443 units in March 2025, capturing 95% of the market. Bajaj Auto led the charge, followed closely by TVS Motor Co, Ola Electric, and Ather Energy, who together accounted for 80% of the industry’s monthly sales.
Bajaj Auto’s Competitive Surge
Bajaj Auto’s stellar performance has placed it in a tight race with TVS Motor Co, which sold 237,551 units in FY2025. The sales gap between the two legacy competitors has narrowed significantly from 76,565 units in FY2024 to just 6,790 units this fiscal year. Bajaj’s strong growth has been driven by the success of its new 35 Series Chetak, launched in December 2024, offering an enhanced range of 153 km.
TVS Motor Co’s Strong Position
TVS Motor Co, long considered the second-largest e2W player, recorded its best-ever monthly sales of 30,453 iQube scooters in March 2025. With a market share of 21% for FY2025, TVS is aggressively expanding its dealer network, which now stands at approximately 750 touchpoints across India.
Ola Electric and Ather Energy Maintain Market Dominance
Ola Electric remains the overall industry leader, selling 344,004 units in FY2025, marking a 4% YoY increase. However, its market share declined from 35% in FY2024 to 30%. Ather Energy, with 130,913 units sold in FY2025, registered a 20% YoY increase, thanks to the success of its Rizta family e-scooter.
Conclusion
As India’s e2W market continues to expand, competition among top OEMs intensifies. With Bajaj Auto and TVS Motor Co closing in on Ola Electric’s lead, the coming fiscal year promises even more innovation and growth in the electric mobility sector.
