Electric two-wheeler sales hit 2.03 lakh in September

Electric two-wheeler sales crossed the two-lakh mark again in September. India registered 2,03,411 electric two-wheelers in the month, up 85% year on year and 12% over August, according to Vahan data compiled by Nuvama and reported by Autocar Professional. Electric two-wheelers made up 11.4% of all two-wheeler registrations in September, up from 10.5% in August.

Electric two-wheeler sales: the September brand scoreboard

TVS Motor kept the top spot in September's electric two-wheeler sales with 53,989 units, up 126% on September last year and 10% on August, though its share eased to 26.5% from 27.1%. Bajaj Auto grew faster, adding 17% over August and 139% year on year to reach 48,383 units, lifting its share to 23.8%. The gap between the two is now just 5,606 units. Ather Energy took third with 30,477 units, up 57% year on year, while Hero MotoCorp's Vida range posted the strongest monthly jump among the top five, up 27% over August to 24,305 units.

Smaller brands added to the volume. Greaves Electric registered 9,317 units, River Mobility 5,549 and BGauss 5,023, all growing sharply from a low base. Together the top eight brands accounted for about 93.7% of September e2w registrations. At the model level, the volume drivers are the TVS iQube and Orbiter, the Bajaj Chetak range, the Ather Rizta and 450 family and the Hero Vida VX2 range, though a reliable model-wise split for September has not been published yet.

Electric two-wheeler sales and Ola's shrinking share

Ola Electric's decline continued. Ola Electric registered 13,449 units in September, down 3% year on year and 4% on August, for a 6.6% share. A year ago, Ola held 12.6% of the market. Its units have barely moved in twelve months; the market has simply grown around it. In the first half of FY27, Ola's registrations fell 23% to 85,634 units, while TVS grew 98% and Bajaj Auto and Hero more than doubled.

The first-half picture shows established manufacturers taking share from startups in electric two-wheeler sales. TVS Motor held a 26.1% first-half share against 22.9% a year ago, Bajaj Auto 22.8% against 18.7%, and Hero's Vida 11.1% against 9.3%. TVS and Bajaj together held nearly 49% of April-to-September registrations, up from about 42% a year earlier, while Ola's first-half share fell to 7.7% from 17.4%.

Electric two-wheeler sales and the two-million target

The first half of FY27 closed at 11,08,606 e2w registrations, up 73% year on year, and calendar-year registrations from January to September stand at about 15.61 lakh, already above the full-year 2025 total. To keep electric two-wheeler sales on course for 20 lakh units in FY27, the market needs about 8.91 lakh registrations from October to March, or roughly 1.49 lakh a month, per Autocar Professional's calculation. September's 2.03 lakh was well above that run rate.

A note on the numbers: trackers cite totals between 1.97 lakh and 2.07 lakh for September because the Vahan data keeps updating as dealers upload registrations, and a figure pulled on October 1 differs from one pulled a day later. The Nuvama compilation of 2,03,411 is used here because it comes with a full manufacturer breakdown. Treat any month-end figure published in the first days of the following month as provisional. On that basis, September's electric two-wheeler sales confirm the market's direction, and the two-million FY27 target looks within reach on Autocar Professional's maths.