India Is Loving EV Two-Wheelers; Sales Up 33% At 1.14 Million In 2024 - See Who's Leading

Driven by increasing consumer demand for sustainable mobility solutions, availability of affordable models, and significant advancements in battery technology, the domestic electric two-wheeler (E2W) market crossed the 1 million sales mark for the first time during last year. As per the data shared by Vahan portal, E2W sales went up by 33.47 percent at 11,48,544 units vis-a-vis 8,60,476 units in the same period last year. 

Ola Electric Mobility, which sold around 4,07,559 units, maintained its dominance with a significant marketshare of around 35 per cent. However, the Bhavish Aggarwal-led firm faced challenges towards the end of the year, with December sales dropping to 13,769 units, reducing its monthly marketshare to nearly 20 percent. 

Meanwhile, TVS Motor Company and Bajaj Auto, which made a huge jump in volumes in the latter half of the year, second and third respectively in the pecking order.  During 2024, while the Chennai-based two-wheeler manufacturer retailed 2,20,532 units, the Rajiv Bajaj-led firm sold 1,93,470 units. During December 2024, Bajaj Auto achieved monthly sales of 18,276 units, capturing a market share of 27.3%. TVS Motor sold 17,231 units, securing a 25.7 percent share. 

Ather Energy attained the fourth spot with 1,26,177 units of e-scooter sales, up 20 percent on a Year-on-Year (YoY) basis. The EV startup held a similar position in December too with total sales of 10,421 units. Hero MotoCorp registered a near-threefold increase in its sales of Vida e-scooters in CY2024. The Pawan Munjal-led company sold 43,696 units during Calendar Year 2024, up by a whopping 292 percent YoY.