The electric two-wheeler segment saw strong growth in February 2026, with over 1,11,000 units sold. TVS Motor maintained its top position with 31,600 units, while Ola Electric slipped to sixth place with just 3,968 units.
- TVS Motor holds a commanding 28 percent market share
- Greaves Electric overtakes Ola Electric for the first time
- Industry has already surpassed 12 lakh units in FY2026
February 2026 electric two-wheeler sales
FY2026 to be a record year for e-2W sales
Electric two-wheeler retail sales in February 2026 stood at 1,11,680 units, a 46 percent surge from 76,720 units in the year-ago period. This is the second-highest monthly sales in FY2026 after October 2025, taking cumulative sales for the first 11 months of the fiscal to 12 lakh units, already surpassing FY2025’s full-year record of 11.5 lakh units. The industry is on track for a record 13.5 lakh units if the segment registers 1,40,000-plus sales in March 2026.
TVS Motor: 31,600 units
TVS Motor Company maintained its dominance by delivering 31,600 units in February 2026, a 67 percent year-on-year (YoY) increase from 18,955 units. This gives the manufacturer of the iQube and Orbiter electric scooters a 28 percent market share for the month. It is the second-highest monthly retail tally for TVS and the fifth time the company has surpassed 30,000 units in a month. The company’s cumulative sales for the first 11 months of FY2026 stand at 2,90,746 units, and it is expected to wrap up the fiscal year with record sales of around 3,25,000 units.
Bajaj Auto: 25,323 units
Bajaj Auto sold 25,323 Chetak e-scooters in February 2026, up 17 percent YoY from 21,571 units, securing a 23 percent market share. The company recently launched the more affordable Chetak C2501, priced at Rs 91,399 (ex-showroom Bengaluru), powered by a 2.5kWh battery with a claimed IDC range of 113km.
Ather Energy: 20,581 units
Ather Energy, firmly entrenched as the third-largest electric two-wheeler manufacturer, sold 20,581 units in February 2026, up 72 percent YoY from 11,978 units, giving it an 18 percent market share. This is the fourth time the Bengaluru-based manufacturer has crossed the 20,000-unit monthly sales mark, and it has crossed the 2,00,000-unit milestone for the first time in a fiscal year. FY2026 should see Ather register a new high of around 2,25,000 units, with the Rizta family scooter accounting for the majority of sales.
Hero MotoCorp: 12,512 units
Hero MotoCorp’s Vida brand delivered 12,512 units in February 2026, up 364 percent from 2,696 units in February 2025, giving it an 11 percent market share. This is the eighth consecutive month that Vida has sold over 10,000 units, having first crossed that milestone in July 2025. The company recently expanded its VX2 portfolio with a 3.4kWh variant, which joins the VX2 Go 2.2kWh and the VX2 Plus.
Greaves Electric Mobility: 4,725 units
Greaves Electric Mobility has sprung a surprise in February 2026 by taking fifth place for the first time, going ahead of Ola Electric. The company, which markets the Ampere brand of e-scooters, delivered 4,725 units, up 27 percent YoY from 3,730 units, giving it a 757-unit lead over Ola Electric. GEM’s cumulative sales have crossed 2,70,000 units.
Ola Electric: 3,968 units
Ola Electric has had a tough February, slipping to sixth place with just 3,968 units. This is the fourth-lowest monthly sales tally for Ola in the past 42 months. The current sixth ranking and four percent market share are the lowest for Ola, a significant drop from January 2025, when it held a 24 percent market share and outsold both TVS and Bajaj. The company has slipped into four-figure sales since November 2025.
