Bajaj Chetak closes in on TVS iQube in electric scooter sales during FY2025

The gap between the two major players in India's electric two-wheeler market has narrowed significantly last fiscal year. TVS sold approximately 2.73 lakh iQube electric scooters in the financial year ending March 31, 2025, maintaining a lead of just 13,000 units over Bajaj's Chetak, which recorded sales of around 2.60 lakh units. This represents a dramatic reduction from the previous fiscal year when the difference stood at approximately 74,000 units.

(Also Read: Over 11 Lakh Electric Two-wheelers Sold In FY25, But Adoption Slows Down)

Both manufacturers achieved record-breaking sales in FY2025, each surpassing the 2.5 lakh unit milestone for the first time. The TVS iQube experienced a 44 per cent year-on-year growth, adding about 83,000 more units compared to FY 2024. Meanwhile, the Bajaj Chetak demonstrated remarkable progress with a 125 per cent increase, selling approximately 1.44 lakh additional units over the previous fiscal year.

October 2024 proved to be the strongest month for both companies during the festive season, with TVS selling roughly 29,000 iQubes and Bajaj delivering around 30,000 Chetaks. The competition remained tight throughout the year, with TVS outperforming Bajaj in May, July, August, September, January and February, whilst Bajaj claimed the sales advantage during the remaining six months.

(Also Read: TVS Bets High On EVs, Predicts Will Drive 30 Per Cent Of Its Sales)

Despite increasing competition and new products entering the market, both TVS and Bajaj continue to succeed due to their established brand recognition with dependable after-sales service networks. The ₹2.5 lakh+ sales figures for each company demonstrate the growing acceptance of electric two-wheelers in the Indian market too.