TVS Leads EV Two-Wheeler Market in November 2025

In November 2025, TVS Motor Company became the leader in electric two-wheeler (EV2W) registrations in India, surpassing Bajaj Auto.

TVS registered 29,751 units, giving them a 26.12% market share.

Bajaj came in second with 25,074 units.

Ola Electric, however, saw a big drop, selling only 8,254 units, down from 16,049 in October.

Overall, EV2W registrations fell by 21% compared to October, but they are still up 41% compared to the same period last year.

The decrease in November is partly due to a shortage of rare earth magnets needed for production.

Experts believe demand will pick up again in December.

The price gap between electric and petrol two-wheelers has also increased due to recent GST changes, making electric vehicles less attractive in the short term, but still more cost-effective over their lifetime.

TVS also recorded a 27% growth in two-wheeler sales, with motorcycles and scooters seeing significant increases.

Their electric vehicle, the TVS iQube, saw a 46% growth in sales.