Major reshuffle in EV segment: TVS and Bajaj defeated Ola, decline in sales data

Ola Electric, once ruled the Indian electric two-wheeler market, has faced a huge decline in its sales in May 2025, resulting in the third place. According to data received from the government’s vehicle portal, in May 2025, the Electric Two-wheeler segment recorded a strong retail sales of 100,266 units, which is the second highest monthly figure after March this year’s summit (131,364 units).

However, Ola Electric sales fell from 37,388 units in May 2024 to 18,499 units in May 2025, which is 51% of a year-on-year decline.With this, Ola’s market share has been reduced to 18% in May, while in May 2024 it was 48%.

In contrast, TVS Motor maintained its leadership in the electric two -wheeler segment. The company registered a year-on-year growth of 107% with the sale of 24,560 units and won 24% market share in May. Bajaj Auto also finished second by selling 21,770 units, which shows a year-on-year growth of 135% and its market share in May was 22%. In April, Bajaj and Ola were on par in the electric market share, but in May, Ola was left behind. The sale of Ather Energy also increased with 12,840 units, giving it 13% market share.

This decline for Ola Electric has come amidst several challenges, including discrepancies, customer service complaints and disappearance of the trade certificate at some dealerships. The company has also faced regulatory investigation due to non -matching of its sales data with government registration. In February 2025, Ola Electric claimed to sell 25,000 units, while only 8,600 vehicles were registered on the vehicle portal. The company described the reason for the temporary registration backlog and seller talks. Ola Electric has recorded a net loss of ₹ 870 crore in Q4 FY25, and the revenue also fell 61.8% to ₹ 611 crore. The company is trying to raise funds to stabilize its financial position and launch its first electric motorcycle Roadter X.