Ola Electric sales crash 26% as TVS surges 94%! What's changing in India's EV market?
Ola Electric sales fell 26% in October 2026, while TVS surged 94% to lead India's record electric two-wheeler market. Explore sales figures, market shares and key competitors.
- Nov 3, 2026,
- Updated Nov 3, 2026 3:57 PM IST
- 1/5
Electric explosion
India's electric two-wheeler market has smashed previous sales records! October 2026 witnessed an all-time high of 2,23,847 electric two-wheelers sold across 209 companies, according to figures reported by Aaj Tak. Festive demand helped push sales to new heights, but the biggest surprise lies in how a handful of manufacturers dominated the market. And one familiar name has raced ahead of its rivals.
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TVS takeover
TVS Motor has emerged as India's electric two-wheeler sales leader, leaving Bajaj, Ather and Ola behind in October 2026. The company sold 60,429 units, compared with 31,076 a year earlier, registering a massive 94% jump. With a 27% market share, TVS has strengthened its position at the top. Bajaj Chetak followed with 49,067 units and a 22% share, but the battle for electric scooter supremacy is far from over.
- 3/5
Ola setback
Once one of the most talked-about names in India's electric scooter market, Ola Electric has reported a sharp decline in October sales. The company sold just 12,096 units, compared with 16,439 in October 2025, marking a 26% year-on-year fall. Its market share also slipped from 11% to around 5%. As rivals such as TVS, Bajaj and Hero Vida posted strong growth, Ola's numbers revealed a striking contrast in the industry's performance.
- 4/5
Hero challenge
Hero MotoCorp's electric vehicle brand Vida is rapidly making its presence felt. The company sold 29,901 electric two-wheelers in October 2026, up from 16,499 units a year earlier, registering an impressive 81% growth. With a 13% market share, Vida is now closing the gap with Ather Energy, which sold 31,796 units. Just 1,895 units separated the two brands in October, making their competition particularly interesting.
- 5/5
River surprise
While established manufacturers battled for market leadership, a smaller electric scooter brand delivered one of October's biggest growth stories. River Mobility sold 6,796 units, compared with just 1,823 a year earlier, registering a remarkable 273% jump. Although its market share remained around 3%, River recorded the fastest percentage growth among the seven manufacturers highlighted in the report. Could this emerging brand become a bigger challenger?