Two-Wheeler EV Sales Jump 24% MoM In January, Ola Electric Reclaims Top Spot

Bhavish Aggarwal-led Ola Electric reclaimed its top position in India’s electric two-wheeler (E2W) market in January 2025, surpassing legacy players TVS Motor and Bajaj Auto in terms of escooter sales.

This comes after Ola Electric lost the title to Bajaj Auto and TVS Motor in December 2024 amid rising competition in the two-wheeler EV space.

Total electric two-wheeler registrations in India climbed nearly 24% month-on-month (MoM) to 91,264 units in January, according to Vahan data as of January 31, 2025. In December 2024, two-wheeler EV sales hit an 8-month low of 73,651 units.

The uptick in E2W registrations was led by Ola Electric, which saw registrations of its electric two-wheelers zoom 64% to 22,656 units in January from 13,794 units in the preceding month. With this, its market share in the electric two-wheeler market increased to 25% in January from 19% in the previous month.

It must be noted that Ola Electric on Friday (January 31) launched its Gen 3 range of S1 escooters, which cater to mass and premium segments. The lineup includes S1 Pro+, S1 Pro and the more affordable S1 X and S1 X+. While the entry-level S1 X has a range of 108-242 km, the flagship S1 Pro+ can travel up to 320 km on a single charge. 

Earlier this month, the original equipment manufacturer (OEM) also kicked off the production of its Roadster series of electric motorcycles. It also showcased the electric bike, along with its other offerings – Ola Gig and Ola S1 Z, at the Bharat Mobility Expo 2025.

Meanwhile, the competition in the E2W space continues to intensify as legacy automotive players TVS Motor and Bajaj Auto also witnessed healthy growth in sales in January 2025. 

TVS Motor zoomed past Bajaj Auto in monthly sales yet again as the former registered an over 27% MoM increase in escooter registrations to 22,080 units in January. Its market share in the electric two-wheeler space increased, albeit marginally, to a little over 24% last month from 23.5% in December 2024.

Bajaj also saw an increase in its vehicle registrations last month but at a lower rate than its top rivals. Registrations for Chetak escooters rose a little under 10% to 20,176 units in January as compared to 18,369 units in the preceding month. 

However, Bajaj’s sales volumes grew at a much lower pace last month as compared to December 2024. This resulted in the legacy two-wheeler player losing market share in the EV space. Bajaj’s market share stood at 22.1% in January as compared to 25% in December 2024.

Expanding its EV play, Bajaj recently rolled out two new electric variants of its iconic Chetak scooters. The automaker plans to export its Chetak-35 series of electric scooters to more than a dozen markets by the first quarter of the next financial year (FY26).

Vibrant January For Top Electric 2-Wheeler OEMs

Not just Ola Electric and other legacy players, India’s other electric two-wheeler OEMs also fared better in terms of sales in January. For instance, IPO-bound Ather Energy recorded a 15% MoM jump in its EV two-wheeler registrations to 12,101 units last month. However, amid cut-throat competition in the space, the EV maker saw its market share tumble to 13.2% last month from a little over 14% in December.

On the other hand, Greaves Electric Mobility, which sells its electric scooters under the brand ‘Ampere’, saw its monthly vehicle registrations surge over 20% MoM to 3,411 units in January. It is pertinent to mention that the EV maker filed its draft red herring prospectus (DRHP) with markets regulator SEBI in December for an initial public offering worth over INR 1,000 Cr.

Another emerging player in the space, Hero MotorCorp continues to grow at a steady pace. Its EV two-wheeler registrations grew 46% MoM to 1,493 units this month. 

Escooter startup River, which launched its first EV in February 2023 and secured funding of $40 Mn in February last year, saw a whopping 201% growth in its vehicle registrations to 588 units in January from 195 scooters in December 2024. 

Similarly, electric motorcycle manufacturer Oben Electric’s vehicle registrations zoomed 198% to 179 units in January from just 60 units last month. 

Electric motorcycle player Ultraviolette also saw a nearly 26% MoM rise in its vehicle registrations to 76 units in January. While most of the new EV startups witnessed a surge in sales this month, Lectrix EV bucked the trend and saw a decline in sales.

Overall, total EV registrations in the country across categories grew over 11% to 1.67 Lakh units in January 2025 from 1.50 Lakh units in December 2024.