Khyati Sharma 2026-11-10
TVS Motor Company has secured the top position in India's electric two-wheeler market for October 2026, with its retail registrations nearly doubling compared with the same month last year. The company recorded 60,490 electric two-wheeler registrations during the month, registering year-on-year growth of 94.66%.
The latest retail figures, based on data from the Federation of Automobile Dealers Associations (FADA), show that India's electric two-wheeler market continued to expand in October. Total registrations reached 2,24,064 units, compared with 1,50,890 units in October 2025, representing growth of 48.49%.
Bajaj Auto secured second position with 49,126 registrations, followed by Ather Energy with 31,833 units and Hero MotoCorp with 29,923 units.
TVS's performance is particularly significant because it recorded growth at almost twice the rate of the overall electric two-wheeler market. The company also maintained a considerable gap over its nearest competitor, Bajaj Auto.
TVS Motor Company registered 60,490 electric two-wheelers in October 2026, compared with 31,075 units during October 2025. This represents an increase of 94.66% year-on-year.
The company also improved its performance compared with September 2026, when it recorded 54,037 electric two-wheeler registrations. The month-on-month increase stood at approximately 11.94%.
With these numbers, TVS accounted for around 27% of India's electric two-wheeler retail market in October.
The TVS iQube has been an important product in the company's electric mobility strategy. It competes in the electric scooter segment with a focus on everyday commuting, practical features and multiple battery and variant options.
TVS has also been expanding its electric vehicle business through product development, dealership support and improvements to its customer experience.
The latest figures indicate that the company's electric two-wheeler portfolio is attracting a growing number of buyers in India.
Bajaj Auto secured second place in India's electric two-wheeler market in October 2026, recording 49,126 retail registrations.
The company registered 32,462 units in October 2025, meaning its year-on-year sales increased by 51.33%.
Compared with September 2026, when Bajaj recorded 48,429 registrations, its October performance improved by approximately 1.44%.
The Bajaj Chetak continues to be the company's key electric scooter offering. Its established brand recognition, metal-body design and expanding product range have helped it maintain a significant presence in India's electric scooter market.
Bajaj remained behind TVS by 11,364 registrations in October. However, its second-place position highlights the company's strong participation in the growing electric two-wheeler segment.
Ather Energy recorded 31,833 electric two-wheeler registrations in October 2026, securing third position in the market.
Its registrations increased by 5.25% compared with 30,246 units in October 2025. The company also improved its monthly volume from 30,533 units in September 2026.
Ather's electric scooter portfolio includes the 450 series and Rizta. The company has focused on connected technology, performance, charging infrastructure and its expanding retail network.
Hero MotoCorp secured fourth position with 29,923 electric two-wheeler registrations in October 2026. This represented an impressive year-on-year increase of 81.36% compared with 16,499 units in October 2025.
Hero's Vida electric scooter range is an important part of its electric mobility strategy. The company's established two-wheeler presence and expanding electric vehicle distribution network provide support for its EV business.
The difference between Ather and Hero MotoCorp was relatively small in October, with Ather ahead by just 1,910 registrations.
Ola Electric recorded 12,098 electric two-wheeler registrations in October 2026, placing it fifth among the leading manufacturers listed in the FADA data.
Unlike most of the major brands, Ola Electric reported a year-on-year decline. Its October registrations fell by 26.41% compared with 16,439 units in October 2025.
The company's performance also declined compared with September 2026, when it recorded 13,451 registrations. This represented a month-on-month fall of approximately 10.06%.
Ola Electric previously held a prominent position in India's electric scooter market. However, the latest figures show that competitors have strengthened their positions, with TVS, Bajaj, Ather and Hero recording higher October volumes.
The company will need to focus on customer confidence, product quality, service experience and consistent sales performance to improve its market position.
India's electric two-wheeler market recorded 2,24,064 registrations in October 2026, representing growth of 48.49% compared with October 2025.
In October last year, the segment recorded 1,50,890 registrations. The latest figures indicate that electric scooter and motorcycle adoption continues to expand across the country.
The segment also recorded an increase compared with September 2026, when registrations stood at 2,07,314 units. This represents month-on-month growth of approximately 8.08%.
Electric two-wheelers accounted for around 9.7% of total two-wheeler retail registrations in October 2026. This was higher than the 4.7% recorded in October 2025.
However, the penetration rate declined from approximately 11.6% in September 2026. This does not mean that electric two-wheeler registrations declined. In fact, monthly EV registrations increased. The lower percentage reflects the faster growth of the overall two-wheeler market during October.
The timing of the festive season may also have influenced the comparison. Diwali fell in October in 2025 but was scheduled for November in 2026, shifting some festive vehicle purchases between the two months.
Several factors may be contributing to TVS's strong electric two-wheeler performance.
Established Brand Presence
TVS already has a strong position in India's conventional two-wheeler market. Its established dealership and service network can help customers feel more comfortable when considering an electric scooter.
TVS iQube Product Range
The iQube range targets everyday electric scooter buyers. Its practical design and multiple variants allow customers to consider different requirements and budgets.
Growing EV Acceptance
Electric scooters are increasingly being considered for daily commuting, particularly in urban areas. Running costs, home charging and reduced dependence on petrol are important considerations for many buyers.
Retail and Service Network
After-sales support plays an important role in electric vehicle ownership. Customers consider service availability, spare parts, warranty support and charging convenience before purchasing an EV.
TVS's established presence in the two-wheeler industry can support its efforts to expand electric vehicle sales.
The October 2026 sales performance highlights the changing competitive landscape of India's electric two-wheeler market.
TVS and Bajaj have strengthened their positions, while Ather and Hero continue to record substantial volumes. Smaller manufacturers such as River Mobility and BGauss are also expanding their presence.
River Mobility recorded particularly strong year-on-year growth, increasing from 1,823 registrations in October 2025 to 6,817 units in October 2026.
At the same time, Ola Electric's decline indicates that competition is becoming more challenging for manufacturers that previously held stronger positions.
For customers, increasing competition could bring more product choices, different price points and further improvements in battery technology, features and charging solutions.
Manufacturers will also need to focus on service quality, vehicle reliability and battery performance to build long-term customer confidence.
