India’s electric two-wheeler (e2W) market is witnessing a dynamic shift, with Ather Energy leaping to the second spot in market share for August 2025, capturing 17% of retail sales in the first 21 days, as reported by the VAHAN portal. TVS Motor Company continues to lead with a commanding 25% market share, while Ola Electric holds third place at 16%.

Ather’s rise is driven by aggressive expansion beyond its South Indian stronghold into Maharashtra and Gujarat, fueled by the popularity of its Rizta e-scooter. With 446 stores currently and plans to reach 700 by the end of FY26, Ather is positioning itself as a formidable player in the rapidly growing e2W segment.

Hero MotoCorp has emerged as a key winner, securing the fourth spot in the market rankings for the first time, thanks to the launch of its affordable Vida VX2, priced at approximately Rs. 82,000. The model’s Battery-as-a-Service (BaaS) option, reducing the cost to Rs. 57,000 by excluding the battery price, has boosted its appeal, driving Hero’s market share to new heights.

Meanwhile, Bajaj Auto slipped to fifth place with a 12% market share, a decline from its recent 20% average. However, with Maharashtra’s festive season, including Ganpati celebrations starting August 27, Bajaj could see a rebound in the final days of August, leveraging its strong Chetak brand presence.

The e2W market, recording around 1 lakh units in monthly sales, is experiencing robust growth, spurred by new sub-Rs. 1 lakh models and innovative schemes like BaaS. According to VAHAN data, the top five manufacturers—TVS, Ather, Ola, Hero, and Bajaj—continue to dominate, accounting for the bulk of sales.

As competition intensifies with new features and affordable offerings, the festive season and upcoming launches will be critical in determining which brands sustain their momentum in this electrifying race for market leadership.