TVS Dominates Indian Electric Two-Wheeler Market in Q1 FY2026

India's electric two-wheeler market has witnessed a dramatic shift in Q1 FY2026, with TVS Motor Company emerging as the undisputed leader after three consecutive months of dominance. The Hosur-based manufacturer's iQube has not only dethroned longtime market leader Ola Electric but has also maintained its edge over strong competition from Bajaj Auto.

TVS Continues To Hold The Baton

TVS's rise to the top began in April 2025 when it first captured the monthly crown, a position it has successfully defended through June 2025. The company's aggressive strategy of slashing prices by up to ₹26,000 whilst simultaneously enhancing battery capacities has paid dividends. As per the Vahan portal, the iQube achieved remarkable June sales of 25,274 units, marking an 80% year-on-year surge that secured a commanding 24% market share.

This sustained performance has translated into impressive quarterly results, with TVS recording 69,992 units in Q1 FY2026—a substantial 108% increase over the previous year. The company's half-yearly tally of 143,735 units already represents 65% of its entire CY2024 record, positioning it strongly for a breakthrough annual performance.

The enhanced TVS iQube lineup now features improved battery capacities and faster charging capabilities, with variants ranging from ₹1,40,000 to ₹159,000. Looking ahead, TVS is preparing to launch an entry-level "Orbiter" model priced around ₹ 1 lakh, which could further strengthen its market position. 

(Also Read: Affordable TVS Electric Scooter Launching Soon, Might Be Positioned Under The Jupiter Brand?)

Bajaj’s Steady Growth

Despite losing its early-year leadership to TVS, Bajaj Auto has maintained a strong second position through strategic product refreshes. The company's Chetak recorded 23,004 units in June, representing a robust 154% year-on-year growth that earned it a 22% market share. This consistent performance has resulted in Q1 sales of 64,099 units, nearly doubling the previous year's figure.

Ola Continues To Lose Traction

The market's most dramatic story remains Ola Electric's steep decline from its former leadership position. Once commanding nearly half the market, Ola's June performance of 20,189 units represents a troubling 45% year-on-year drop, shrinking its market share to just 19%. This downward trajectory has continued throughout the quarter, with Q1 sales falling 46% to 58,534 units. 

(Also Read: Bajaj Chetak 3001 Launched At ₹99,990)

Ather’s Revival With Hero’s Guidance

Amidst the market reshuffling, Ather Energy has emerged as a notable success story. The Bengaluru-based startup achieved impressive June sales of 14,512 units, marking a 133% year-on-year increase that secured a 14% market share. The company's flagship Rizta family scooter, which recently surpassed 100,000 total sales, now drives 60% of Ather's business.Hero MotoCorp, leveraging its traditional two-wheeler expertise, has shown remarkable recovery with 7,664 June units representing 149% growth. The company's Vida V2 series launch in December 2024 has reinvigorated its electric portfolio, whilst the introduction of Battery-as-a-Service on 1st July 2025 signals its commitment to making electric mobility more accessible.

(Also Read: Hero Vida VX2 Will Be Available With Battery-As-A-Service Subscription Model)

Moving Forward

TVS's successful combination of aggressive pricing, product enhancement, and strategic launches has created a template for market leadership, whilst Ola's decline demonstrates how quickly fortunes can change in this rapidly evolving sector. As companies prepare for the crucial festive season ahead, the introduction of Battery-as-a-Service models and entry-level variants suggests the market is preparing for its next phase of mass adoption.

(Source: Autocar Professional)