Of the 56,535 electric two-wheelers retailed in India between February 1-21, Bajaj Auto accounts for 15,509 Chetaks and a 27% market share, ahead of TVS Motor Co (13,237 units, 23% share) and Ather Energy (8,654 units, 15% share).
22 Feb 2025 | 6026 Views | By Ajit Dalvi
With 21 days of February 2025 over, Bajaj Auto and its Chetak have maintained the lead they had in the first two weeks in Week 3 (February 14-21). As per the latest retail sales data on the Vahan website, the Bajaj Chetak has sold 15,509 units which gives it a ...
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With 21 days of February 2025 over, Bajaj Auto and its Chetak have maintained the lead they had in the first two weeks in Week 3 (February 14-21). As per the latest retail sales data on the Vahan website, the Bajaj Chetak has sold 15,509 units which gives it a current 27% market share for the month. The Pune-based OEM added 5,322 units in the third week of the month to its first two weeks’ tally of 10,187 units.
Bajaj Auto, which won the best-selling e2W OEM title for the first time in December 2024, was ranked No. 3 in January 2025 after Ola Electric which bounced back to take the No. 1 position and TVS Motor Co. In terms of cumulative sales for the fiscal year to date, the company has retailed a total of 189,803 units, to rank third after Ola Electric (319,535 units) and TVS Motor Co (201,334 units).
Bajaj Auto is benefiting from the launch of the Chetak 35 Series e-scooters in the form of the mid-spec 3502 and top-spec 3501 variants, which deliver a claimed higher range of 153km per charge, TFT display with integrated maps, Bluetooth connectivity and screen mirroring, faster charging and best-in-class 35-litre boot space.
Having sold 4,381 units in February Week 3, TVS Motor Co, with 13,237 units in the February 1-21 period, is 2,272 units behind Bajaj Auto. While TVS’ retails mainly comprise its iQube e-scooter, the company has recently begun deliveries of the TVS X, its flagship electric scooter first unveiled in December 2023 and priced at Rs 250,000 (ex-showroom Delhi). Will it sell more e2Ws in the last week to win the No. 1 title for the month? We have to wait till March 1.
For the fiscal-to-date cumulative sales, TVS Motor Co has surpassed the 200,000 retail milestone with 201,334 units. Considering, total e2W retails between April 1, 2024 and February 21, 2025 are 998,739 units, TVS currently has a 20% market share in FY2025 and has already improved upon its FY2024’s score of 182,933 units and 19% market share.
Ather Energy, which was ranked fourth in the first two weeks, is currently at No. 3 position with cumulative retails of 8,654 units in the first three weeks of February, having sold 2,873 units in Week 3. Its flagship product is the Rizta family e-scooter launched in April 2024 at a starting price of Rs 110,000 (Rizta S) through to Rs 165,000 (Rizta Z 3.7 with ProPack). The Rizta is witnessing growing customer acceptance. While the S version (2.9 kWh battery) has a 123km range, the Z variant (3.7 kWh) has a 160km range. In FY2024, the smart e-scooter OEM had sold 108,870 units.
Ola Electric, which regained its market leader title in January 2025, is currently ranked No. 4 with retails of 7,622 units in the first 21 days of February 2025. It is to be noted that last week, the company had issued an advisory that cautioned of a temporary dip in Vahan retail sales registrations.
In a regulatory filing on February 19, the recently listed EV manufacturer stated that it is “renegotiating the terms of agreement with our agencies, namely Rosmerta Digital Services Private Limited and Shimnit India Private Limited, to reduce cost and enhance registration process efficiencies. Due to ongoing negotiations and optimisation of the registration process, our registration numbers for the month of February 2025 (on VAHAN portal) will be temporarily impacted. Our sales continue to be strong through February 2025 and the dip in registration will be streamlined in the next few weeks.”
Ola, in end-January, launched the its third-generation S1 portfolio comprising four models – S1 X, S1 X+, S1 Pro and the new flagship S1 Pro+ – with prices start at Rs 80,000 and going up to Rs 170,000 for the S1 Pro+. The S1 Pro+, equipped with a 5.3 kWh battery, claims a top speed of 141kph and an industry-topping range of 320km on a single charge. A more affordable 4 kWh variant is also available. Ola EV sales should get a fillip in the months ahead, following the launch of the Roadster X, its first electric motorcycle whose deliveries are slated to commence in mid-March 2025. The company is optimistic that it will witness a faster uptake in its electric motorcycles compared to its scooters. This will be facilitated by its stronger and bigger sales network (4,000 stores) and the fact that typically motorcycle sales are more in rural India and smaller towns.
Ola Electric remains the overall e2W market leader in the current fiscal with 319,535 units sold till February 21, 2025, which gives it a market share of 32%, ahead of TVS Motor Co (201,334 units / 20% share) and Bajaj Auto (189,803 Chetaks / 19% share).
Greaves Electric Mobility maintains its No. 5 rank for the month with 2,694 units. Having sold 1,818 units in the first two weeks of February 2025, GEM added another 876 units in Week 3. The company’s sales are mainly driven by the Nexus and Magnus Neo e-scooters. While the flagship Nexus family EV has a top speed of 93kph and a certified range of 136km per charge, the Magnus Neo, which is an updated version of the Ampere Magnus, has an over-100km range. GEM’s total retails in the fiscal to date are 33,508 units.
Hero MotoCorp checks in at No. 6 with 1,861 Vida e-scooters. The new Vida V2, which has joined the Vida 1, is available in three variants: Lite (Rs 96,000), Plus (Rs 115,000) and Pro (Rs 135,000). The most affordable V2 Lite comes with a small 2.2kWh battery pack which delivers a claimed 94km IDC range. It also has a lower 69kph top speed compared to the Plus and Pro variants, which have top speeds of 85kph and 90kph, respectively. Only two riding modes are available on the V2 Lite – Ride and Eco – but the rest of the feature-set is very similar to the other two, including the 7-inch touchscreen TFT display. Hero MotoCorp has sold 39,856 Vidas in the fiscal year to date.
Pure Energy, with 1,289 units, is seventh on the Top 10 list of e2W OEMs after the first three weeks of February. The company currently sells three e-scooters and two -motorcycles: ePluto 7G Max, ePluto 7G, E-Trance Neo+, ecoDrft 350 and eTryst X.
Bgauss Auto takes eighth rank with 939 units. The EV arm of electrical solutions major RR Kabel, Bgauss has sold 14,473 units in the current fiscal year. Its portfolio comprises the RUV 30 and 350i EX which, with its 2.3 kWH battery, delivers an ARAI-certified range of 105km on a single charge, and the BG C12i powered by a 3.2 kWh lithium-ion battery and giving a top speed of 60kph. Bgauss Auto’s total sales in FY2025 till February 14 are 14,229 units.
Kinetic Green Energy, whose e2W portfolio comprises of the e-Zulu, Zoom, Flex and Zing e-scooter and the e-Luna moped, is at No. 9 position with 582 units. In the fiscal to date, the company takes No. 10 position with 7,425 units, compared to FY2024 when it was ranked 12th with 9,703 units.
Electric motorcycle maker Revolt Motors wraps up the Top 10 table for February Weeks 1-2-3 with 553 units. In the fiscal to date, Revolt has sold 9,960 units.
With only a week left for February 2025 to turn into March, will there will be a change in the Top 10 e2W rankings for the month? Stay plugged in for the latest updates on this zero-emission segment of India EV Inc.