Bajaj Auto has regained the leadership position in the electric two-wheeler (E2W) segment in February, a milestone in the midst of the increasing competition between traditional automakers and new-age EV startups. Based on figures from the Vahan portal, Bajaj Auto captured a dominant 28% market share by retailing 21,389 units of its best-selling e-scooter, the Chetak. This comeback follows Bajaj having lost its top spot briefly in January when TVS Motor took the lead in sales figures.

This is the second occasion when Bajaj Auto has topped the sales of E2Ws, having previously overtaken Ola Electric in December 2024. Nevertheless, the Bhavish Aggarwal-led Ola Electric soon reclaimed its leadership role in January due to an aggressive store expansion strategy and higher production. Despite attempts by Ola Electric, Bajaj Auto has again moved ahead, showing a dynamic and competitive Indian EV market.

Ola Electric’s Stand and Market Reaction

Ola Electric, the best-known EV brand in India, suffered a brief setback in February. The firm sold 8,647 units as per Vahan data. Ola Electric, however, reported selling nearly 25,000 units in February, explaining the difference by citing negotiations with registration agencies. The EV company had previously indicated that it was renegotiating deals with these agencies to lower costs and simplify the registration process of its vehicles. This might have resulted in a short-term fall in the official figures shown in the Vahan portal.

Even with the recent dip in numbers, Ola Electric is still a strong player in the E2W segment. Aggressive marketing by the company, swift expansion to Tier III and Tier IV cities, and ongoing innovation in battery technology and performance are likely to keep it strongly positioned in the market.

TVS Motor Continues Strong Presence

TVS Motor, another major player in the E2W space, posted strong sales numbers in February, increasing the fight between incumbent brands even more. It sold 18,764 units, capturing a 24.6% market share. This comes after it surpassed Bajaj Auto for a brief moment in January when it posted exceptional sales numbers. The fight between TVS and Bajaj is indicative of the growing stronghold of incumbent automakers in the Indian electric mobility market.

TVS Motor’s iQube electric scooter has been a hit, drawing high consumer demand because of its battery efficiency, competitive pricing, and wide dealership network. The company has been aggressively building its presence in Indian cities and towns, serving a wide customer base.

Ather Energy’s IPO Plans and Market Share

On the other hand, Ather Energy, which is supported by Hero MotoCorp, saw a marginal decline in sales in February. The company sold 11,808 units, compared to 13,062 units in January. Ather has a 15.5% market share in the electric two-wheeler segment.

Even with the slight dip, Ather is still a top player in the sector, owing to its high-performance scooters, cutting-edge fast-charging technology, and growing charging network all over the nation. The firm is also gearing up for an IPO, which would give it the financial push to expand operations and strengthen its market position.

Overall Market Trends and Future Outlook

The entire electric two-wheeler market experienced a dip in sales during February, with total units sold falling by approximately 8% to 76,089, from the previous month. There were a number of factors that led to this downtrend, such as seasonal demand variation, supply chain bottlenecks, and changing government policies impacting subsidies and incentives for EV purchasers.

In spite of this short-term slump, the overall prospects of the E2W segment remain upbeat. Government policies encouraging electric mobility, rising fuel prices, and heightened consumer consciousness about sustainability are likely to propel the segment’s growth in the future. Moreover, innovations in battery technology, charging networks, and smart connectivity options are likely to improve the attractiveness of electric two-wheelers in the future.

Conclusion

Bajaj Auto’s resurgence to the leadership position in February indicates the cutthroat competition between legacy auto majors and EV new entrants in India’s electric two-wheeler segment. Although Ola Electric and TVS Motor are still strong challengers, Bajaj’s steady performance and strategic positioning have enabled it to gain a firm grip in the segment. With Ather Energy planning its IPO and other players increasing their expansion drive, the fight for E2W market leadership in India is far from over. The next few months will be important in analyzing how these major players tackle market conditions and new consumer patterns in the fast-changing electric mobility market.

To read about more inspiring startup journeys, visit Arise Times.