TVS Leads India’s Electric Two-Wheeler Market in September
TVS Motor registered 53,989 electric two-wheelers in September, capturing a 26.06% market share, while TVS, Bajaj and Hero together accounted for more than 61% of registrations in the reported dataset.
India’s electric two-wheeler market recorded around 2.07 lakh registrations in September 2026, up more than 12% from nearly 1.85 lakh units in August, according to reports. TVS Motor retained the top position, while Bajaj Auto and Hero MotoCorp recorded stronger month-on-month growth among the leading manufacturers.
TVS Motor registered 53,989 electric two-wheelers in September, giving it a 26.06% share of the segment. Its registrations rose 9.55% from 49,284 units in August. Bajaj Auto followed with 48,383 registrations and a 23.36% share, with volumes increasing about 17% month-on-month and adding more than 7,000 units.
Ather Energy ranked third with 30,479 registrations, accounting for 14.71% of the market. Its registrations increased nearly 5% from 29,068 units in August. Hero MotoCorp recorded one of the strongest gains among the major manufacturers, with registrations rising 27% to 24,306 units from 19,144 units in August. Hero held an 11.73% share of September registrations.
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Together, TVS, Bajaj, Ather and Hero accounted for roughly 76% of the registrations reported for the month. Ola Electric remained in fifth place with 13,449 registrations and a 6.49% market share. It was the only manufacturer among the top five to report a month-on-month decline, with registrations falling 3.53% from 13,941 units in August.
Greaves Electric Mobility registered 9,316 units in September, giving it a 4.5% share, while River Mobility recorded 5,549 registrations, up 6.4% from August. BGauss registered 5,023 units during the month and remained broadly stable on a month-on-month basis.
Among smaller manufacturers, Bounce Electric recorded a sharp increase, with registrations nearly tripling to 3,069 units from 1,049 in August. E-Sprinto Green Energy also saw a significant jump, with registrations rising to 1,997 units from 120 in the previous month.
Simple Energy dropped out of the top 10 in September, with registrations falling nearly 19% to 1,351 units from 1,664 in August. The decline came shortly after the Bengaluru-based electric two-wheeler manufacturer raised ₹1,750 crore ($182 million) in a Series C round led by the family office of Thyrocare founder Dr Arokiaswamy Velumani. The all-equity round also included founder and CEO Suhas Rajkumar, co-founder and CFO Ankit Gupta, HNI Amit Mishra and the Haran Family Office.
Simple Energy said the fresh capital will be used to establish a new manufacturing facility, increase production capacity, expand its distribution and service network, hire talent and fund research and development for its next generation of products. The company currently has more than 80 outlets across over 60 cities and has stated a production capacity of 10,000 units per month. The Series C takes its total capital raised to more than ₹2,530 crore, according to company disclosures reported by multiple publications.
The September data also highlights the increasing contribution of established two-wheeler manufacturers to India’s electric mobility market. TVS, Bajaj and Hero together accounted for more than 61% of the September registrations reported in the dataset, while Ather remained the third-largest electric two-wheeler manufacturer.