TVS Motor Company retained the top spot in India’s electric two-wheeler market in February 2026, as the segment recorded strong growth with 1,11,680 units sold, marking a 46% increase from 76,720 units in the same month last year.
The company sold 31,600 units, led by models such as the TVS iQube electric scooter, securing a 28% market share. This marks TVS Motor’s second-highest monthly sales and the fifth time the company has crossed the 30,000-unit milestone in a single month.
Bajaj Auto and Ather Follow
Bajaj Auto ranked second with 25,323 units of the Bajaj Chetak electric scooter sold in February, registering 17% year-on-year growth and capturing a 23% market share.
Ather Energy held the third position with 20,581 units, reflecting 72% YoY growth. The Bengaluru-based EV maker recorded its fourth month crossing the 20,000-unit mark, driven largely by the popularity of the Ather Rizta scooter lineup.
Hero MotoCorp Sees Strong Growth
Hero MotoCorp, through its Vida range, sold 12,512 units in February, a 364% increase compared to 2,696 units in February 2025. The brand has now recorded eight consecutive months of sales above 10,000 units.
Greaves Electric Overtakes Ola
Greaves Electric Mobility secured the fifth position with 4,725 units, surpassing Ola Electric for the first time. Greaves, which sells the Ampere range, posted 27% YoY growth.
Meanwhile, Ola Electric slipped to sixth place, selling 3,968 units in February. The company’s 4% market share represents its lowest ranking in recent years and a sharp decline from January 2025, when it held a 24% market share and led the segment.
FY2026 Set to Break Records
The electric two-wheeler industry has already crossed 12 lakh units in the first 11 months of FY2026, surpassing FY2025’s full-year record of 11.5 lakh units. The sector is expected to reach around 13.5 lakh units for the fiscal year if March sales exceed 1,40,000 units, making FY2026 the strongest year yet for electric two-wheelers, in India.
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