Back in May 2024, Ola Electric had more than 49 percent of the market share, but now in May 2025, it’s dropped to just 20 percent, putting it in third place behind TVS and Bajaj.
The electric two-wheeler sector in India experienced a significant shake-up during the first three weeks of May 2025, with Ola Electric trailing both TVS Motor Company and Bajaj Auto in total vehicle registrations. Data from the Vahan portal, updated until May 26, reveals a persistent decline for the Bengaluru-based startup that once led this market segment.
Ola Electric recorded 15,221 zero-emission scooters during this period, placing it third in the rankings—far behind TVS’ 19,451 units and Bajaj Auto’s 17,167 units. While the sales figures indicate a drop from the previous month, the more pressing issue is Ola’s diminishing market presence. From over 49 percent of the market share in May last year, the company now represents only 20 percent. In contrast, TVS captured a quarter of the segment in May 2025, marking a steady increase from its 22.3 percent share in April. Bajaj Auto experienced a small uptick, going from 21.4 percent last month to 22.6 percent in the most recent figures.
Despite minor declines in absolute sales for both competitors, their market positions have strengthened. Also Read: Ola Roadster X Customer Deliveries Set to Start Tomorrow in India. For Ola, this setback is considerable. The company reported sold 37,388 units in May 2024,. A drop to 15,221 units within a year signifies a nearly 60 percent decrease—much sharper than the overall sales slowdown affecting the sector.
The resulting impact is a consistent erosion of market share, which has fallen from 22.1 percent in April to 20 percent by late May. Ather Energy, now listed company, saw its market share decline to 13.1 percent from 14.9 percent in April 2025. Its total registrations dropped from 13,287 units to 9,962 during the same period. Various factors seem to be impacting the market.
