Electric Two-Wheeler Registrations Cross 2.07 Lakh Units in September 2026; TVS Leads, Bajaj Closes In
India’s electric two-wheeler market delivered another strong performance in September 2026, with total registrations reaching 2,07,542 units, according to Vahan registration data downloaded on 5 October 2026.
The segment registered an impressive 88.9% year-on-year growth compared with 1,09,884 units in September 2025. Registrations also increased 12.3% month-on-month from 1,84,736 units in August 2026.
The month was led by TVS Motor Company, followed closely by Bajaj Auto, while Ather Energy, Hero Vida and Ola Electric completed the top five.
Electric 2W Sales – September 2026
Rank | OEM | Sep’26 | Sep’25 | YoY Growth | Aug’26 | MoM Growth | Sep’26 MS |
1 | TVS | 54,105 | 23,926 | 126.1% | 49,295 | 9.8% | 26.1% |
2 | Bajaj | 48,482 | 20,274 | 139.1% | 41,355 | 17.2% | 23.4% |
3 | Ather | 30,578 | 19,620 | 55.9% | 29,094 | 5.1% | 14.7% |
4 | Hero Vida | 24,341 | 13,273 | 83.4% | 19,145 | 27.1% | 11.7% |
5 | Ola | 13,452 | 13,862 | -3.0% | 13,946 | -3.5% | 6.5% |
6 | Greaves | 9,317 | 4,352 | 114.1% | 8,625 | 8.0% | 4.5% |
7 | River | 5,578 | 1,895 | 194.4% | 5,220 | 6.9% | 2.7% |
8 | BGausS | 5,024 | 2,524 | 99.0% | 5,045 | -0.4% | 2.4% |
9 | Bounce Electric | 3,069 | 895 | 242.9% | 1,049 | 192.6% | 1.5% |
10 | e-Sprinto | 1,997 | 957 | 108.7% | 120 | 1564.2% | 1.0% |
11 | Oben | 1,419 | 323 | 339.3% | 642 | 121.0% | 0.7% |
12 | Simple Energy | 1,356 | 677 | 100.3% | 1,666 | -18.6% | 0.7% |
13 | Lectrix | 1,154 | 491 | 135.0% | 851 | 35.6% | 0.6% |
14 | Honda | 1,104 | 398 | 177.4% | 882 | 25.2% | 0.5% |
15 | Revolt | 1,032 | 709 | 45.6% | 917 | 12.5% | 0.5% |
— | Others | 5,534 | 5,708 | -3.0% | 6,884 | -19.6% | 2.7% |
Total | 2,07,542 | 1,09,884 | 88.9% | 1,84,736 | 12.3% | 100% |
TVS continued to lead India’s electric two-wheeler market in September 2026 with 54,105 registrations, commanding a 26.1% market share. The company remained comfortably ahead of the competition and emerged as the largest electric 2W player during the month.
Bajaj secured the second position with 48,482 registrations and a 23.4% market share. The gap between Bajaj and TVS narrowed to just 5,623 units, indicating increasingly close competition at the top of the electric two-wheeler market.
Ather Energy ranked third with 30,578 registrations, accounting for 14.7% of the market. Ather continued to maintain a sizeable lead over most other EV-focused manufacturers.
Hero Vida followed in fourth place with 24,341 registrations and an 11.7% share. Hero Vida’s strong volumes further strengthened the presence of traditional two-wheeler manufacturers in the EV segment.
Ola Electric stood fifth with 13,452 registrations, translating into a 6.5% market share. The company remained some distance behind the top four players during September.
Greaves Electric Mobility registered 9,317 units, securing a 4.5% share and sixth position. It was followed by River, which recorded 5,578 registrations and captured 2.7% of the market.
BGauss ranked eighth with 5,024 registrations, representing a 2.4% share
Bounce Electric recorded 3,069 registrations and held 1.5% of the electric two-wheeler market.
e-Sprinto completed the top 10 with 1,997 registrations and a 1.0% market share.
Oben Electric registered 1,419 units, delivering one of the strongest annual growth rates in the industry at 339.3% YoY. Registrations also more than doubled from August, increasing 121% MoM.
Simple Energy registered 1,356 units, which was still 100.3% higher than September 2025. However, registrations declined 18.6% MoM from 1,666 units in August. Its market share remained around 0.7%.
Lectrix recorded 1,154 electric two-wheeler registrations in September 2026, ranking 13th among OEMs with a 0.6% market share. The company achieved a 135% year-on-year growth from 491 registrations in September 2025. Month-on-month, registrations rose 35.6% from 851 units in August 2026, showing strong momentum.
Honda recorded 1,104 electric two-wheeler registrations, up 177.4% YoY and 25.2% MoM. While Honda currently accounts for only around 0.5% of the market, the strong growth rate highlights its gradual expansion in India's electric scooter segment.
Revolt at 1,032 units.
Other manufacturers collectively contributed another 5,534 registrations, accounting for 2.7% of the market.
Auto Punditz Take
The most significant takeaway from September 2026 is the market's size.
With 2.08 lakh registrations, volumes were nearly 89% higher than last year.
The 12.3% increase over August shows strong momentum entering the festive period.
With TVS and Bajaj expanding, Hero Vida strengthening, and smaller manufacturers growing rapidly, competition is set to intensify.
Note: The analysis is based on Vahan registration data downloaded on 5 October 2026. Registration figures may vary slightly from company-reported wholesale or retail sales numbers and can be subject to subsequent updates on the Vahan portal.
