Bajaj Auto Surpasses Ola Electric to Become India's Leading 2-Wheeler EV Manufacturer

New Delhi, Jan 1 (NationPress) The arrival of the New Year marked a significant shift in the two-wheeler (2W) electric vehicle (EV) landscape in India, with Bajaj Auto taking the lead over Ola Electric in December regarding market share.

As per the statistics from the government's Vahan portal, Bajaj Auto's share in the two-wheeler EV sector grew by 3 percent to reach 25 percent in December 2024, up from 22 percent in November.

Conversely, Ola Electric experienced a 5 percent decline in market share on a month-on-month basis, dropping to 19 percent in December compared to 24 percent in November.

In addition to Bajaj, Ather Energy also saw its market share in the two-wheeler EV segment rise by 3 percent, increasing to 14 percent in December from 11 percent in November.

TVS Auto maintained its market share at 23 percent last month, while Hero MotoCorp saw a 5 percent reduction, ending up with just 1 percent in December from 6 percent in November.

Led by Bhavish Aggarwal, Ola Electric faces intense competition in the two-wheeler EV market as companies like Bajaj and TVS release more affordable and improved versions of their electric scooters.

In response to the mounting competition, Ola Electric introduced new vehicles and expanded its retail presence from 800 to 4,000 stores. The company also plans to incorporate its batteries into its electric scooters starting from April 2025.

On the other hand, Bajaj Auto's new platform not only boasts the latest features but is also projected to enhance margins by 45 percent cost savings.

TVS is consistently working to increase its touchpoints for the electric scooter I-Qube.

In addition to 250 EV outlets, the company has expanded its reach to approximately 4,000 stores. Ather Energy is likewise enhancing its presence in North India and has witnessed strong demand from vibrant EV markets like Gujarat and Maharashtra.