The electric two-wheeler sector maintained its strong momentum in January 2026, supported by favorable government incentives, lower total cost of ownership, improved financing access and a steady pipeline of new products.

The sector’s retail sales rose to 1,22,812 units. This compares to 98,427 units sold in January 2025, representing a year-on-year increase of 24.77%. On a month-on-month basis, sales increased by 26.09% compared to 97,399 units recorded in December 2025, indicating a good start to the new calendar year.

Electricity 2W Sales January 2026

TVS Motor continues to lead the electric two-wheeler space, selling 34,558 units in January 2026. This represents a year-on-year increase of 43.82% to 24,028 units. With a month-on-month growth rate of 38.03%, the brand’s portfolio in this segment seems to have strengthened thanks to the recent launch of Orbiter.

Bajaj Auto maintained its second position with 25,598 units, recording positive growth both year-on-year and month-on-month. Recent introductions like Chetak C25 and Chetak 3001 have helped sustain demand. TVS Motor and Bajaj Auto together account for a significant share of the total electric two-wheeler sales, reflecting strong consumer preference for established brands.

Ather Energy ranked 3rd in January 2026 with 21,999 units. This was a 67.97% year-on-year increase from 13,097 units and a 28.97% month-on-month growth from 17,058 units. Hero MotoCorp’s EV arm, Hero Vida, also reported rapid growth at 13,302 units compared to 1,626 units in January 2025, an increase of 718.08%, indicating rapid scale-up.

Ola Electric plummets

In contrast, Ola Electric saw a sharp decline in sales volumes. Sales decreased by 69.21% year-on-year and 16.68% month-on-month to 7,516 units, reflecting the segment’s structural and competitive challenges. Ola Electric’s stock price is hovering near record lows.

Greaves Electric recorded 5,337 units, an increase of 47.72% year-on-year and 12.33% month-on-month. River Mobility, which currently sells a single Indie model, recorded 2,587 units, an increase of 323.40% year-on-year and 44.04% month-on-month.

BGauss Auto recorded 2,477 units and E-Sprinto Green Energy recorded 2,033 units, with the latter recording a significant increase of 1,526.40% year-on-year. Other brands also added 7,405 units, contributing to the expansion of the entire segment.