TVS Motor Dominates EV Two-Wheeler Market in March 2026; Ola Electric Slips to Fifth

• TVS Motor maintained its leadership in India's electric two-wheeler market in March 2026 with 38,007 units and a 27.3% market share.
• Total electric two-wheeler registrations reached 139,238 units in March, driven by year-end discounts and the impending PM E-DRIVE subsidy deadline.
• Legacy manufacturers like Bajaj Auto (2nd with 24% share) and Ather Energy (3rd with 18.8% share) strengthened their positions.
• Ola Electric dropped to fifth place with 6,381 units and a 4.6% market share, as established OEMs expanded their EV portfolios.
• Discounts up to Rs 50,000 from brands like Ola Electric and Ather Energy, along with the PM E-DRIVE subsidy deadline, fueled a surge in sales.