The demand for electric vehicles in the Indian market continues to grow. An analysis of data from the first nine months of the current year, 2026, shows significant growth in the sales of two-wheeled electric bicycles. According to transport data, between January and September 2026, 1.561 million electric two-wheeled vehicles were sold in the Indian segment.
Companies such as TVS Motor, Bajaj Auto, Ather Energy, and Hero MotoCorp hold the largest market share. These four manufacturers control 76 percent of sales over the last nine months. These figures demonstrate that the market is effectively controlled by these four major producers.
For comparison, this figure was 9.61 million units during the first nine months of the previous year, 2025. Thus, over the nine months of the current year, sales of two-wheeled electric bicycles increased by 6 million units compared to 2025. The annual growth rate was 62 percent. Throughout all of 2025, these companies collectively sold 13.42 million electric two-wheeled vehicles.
Last month, 1.97 million registrations were recorded in the two-wheeled electric bicycle segment, representing a 7.7 percent increase compared to August. TVS and Bajaj contributed the most to sales.
Among the best-selling models are the iQube from TVS, which is highly popular, and the Bajaj Chetak, which became the best-selling electric scooter last month. The Rezo model from Ather Energy has also gained consumer recognition, and the Vida from Hero MotoCorp is among the most sought-after scooters.
Although data for September has not yet been published, two-wheeled segment sales in 2026 for nine months have already exceeded those of 2025. Any sales in the next three months will be included in the overall growth of this segment. Over the nine months of the current year, the companies sold 2.19 million more units than last year.
While major manufacturers have benefited the most in terms of market share, there is also impressive growth among smaller companies. For example, River Mobility's share increased from 1.27 percent in 2025 to 2.46 percent in 2026.