TVS Motor became India’s second-largest electric two-wheeler maker several months ago and is rapidly closing the gap with Ola Electric, while Bajaj Auto emerged as No.3 in October, displacing Ather Energy to the fourth spot.
Ola Electric’s three-month rolling average market share, which peaked at 34% in August, fell to 30% in October, while Ather Energy fell from 13% to 11%. Meanwhile, TVS Motor’s electric two-wheeler market share jumped from 14% in January to 24% in October, while Bajaj Auto’s rose from 4% to 11%, Vahan data on three-month rolling automobile registrations showed.
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