Ola’s market share of 36.7 percent in 2024 came down to 16.1 percent in 2025 in the electric two-wheeler segment
The Indian two-wheeler industry witnessed an unprecedented and unexpected realignment this year as the market share of the segment leader Ola Electric dropped by over 50 percent in domestic sales. On the other hand, several legacy brands such as TVS Motor Company, Hero MotoCorp and Bajaj Auto increased their market shares in the e2w segment as Ola’s volumes kept sliding downwards. The Bhavish Agarwal-led EV brand is said to be facing operational challenges, inconsistent delivery commitments and customer complaints around service turnaround times.
Ola Electric had a healthy market share of 36.7 percent (2024) in the electric two-wheeler market, which came down to 16.1 percent in 2025 as it managed to sell only 1,96,767 units as compared to 4 lakh+ units in 2024. However, as per the data available on the Vahan portal, the overall sales momentum picked pace in the electric two wheeler segment but Ola couldn’t capitalize on it.
TVS Motor Company emerged as the new leader in the e2w segment with sales of 2,95,315 units and market share of 24.2 percent in 2025. It was followed closely by Bajaj Auto with 21.9 percent market share. “There will be a lot more competition in the electric two-wheeler space, not just in scooters but also in motorcycles,” remarked VG Ramakrishnan, managing partner at Avanteum Advisors LLP.
Ramakrishnan added that legacy brands are going full throttle now with their service reach, brand value and scale. The legacy brands have a massive distribution network, widespread after-sales support, and a bigger model lineup, which Ola Electric presently lacks. Though the company has started rolling out electric scooters with its self-developed battery cells, it will still take some months before the brand is finally back to its best.
Ather Energy, the EV-only brand and closest foe of Ola Electric, made huge inroads this year in the e2w segment with a massive surge in sales. It surpassed Ola’s 16.1 percent market share by a bare margin at 16.2 percent. Just so you know, Ather had a market share of 11.3 percent in 2024. In fact, Hero MotoCorp too witnessed a steep rise in the market share from 3.9 percent in 2024 to 8.8 percent in 2025.
Overall, 2025 was a challenging year for the electric two-wheeler industry due to several disruptions. One of the foremost among these was unavailability of heavy rare earth metals for a certain period because of geopolitical tensions with China. It led to added pressure on supply chains as well as cost.
