Electric two-wheeler sales nearly double to 2.07 lakh in September; TVS leads

Registrations of electric two-wheelers in India rose to about 2.07 lakh units in September 2026, up roughly 89% from about 1.10 lakh a year earlier, according to data from the government's Vahan vehicle registration portal compiled by industry trackers and reported this week. Electric models made up about 11.5% of all two-wheeler registrations in the month, up from about 8.2% in September 2025. TVS Motor led the market with roughly 54,000 units, followed by Bajaj Auto, with Ather Energy third at about 30,500 units. In the first nine months of 2026, about 15.6 lakh electric two-wheelers were registered, already more than in the whole of 2025.

Scooters and motorcycles are how millions of Indians get to work, school and shops, so the two-wheeler market is where electric vehicles can make the biggest difference to everyday travel. A share above 11% in a single month, with registrations nearly doubling from a year earlier, shows electric models moving from a niche towards the mainstream.

The ranking also tells a business story. The market leaders are now established manufacturers such as TVS and Bajaj, which can use their factories, supplier networks and service centres to scale electric models quickly. Younger, electric-only companies such as Ather remain strong competitors, but the contest is increasingly about manufacturing scale, financing and after-sales service rather than just technology.

For investors and entrepreneurs, the growth opens opportunities beyond the vehicle makers: battery packs and cells, motors and electronics, charging and battery-swapping networks, used-EV marketplaces, insurance and vehicle finance. As volumes rise, demand for local components and service networks in smaller towns is likely to grow. At the same time, high oil prices make the running-cost advantage of electric scooters more visible to buyers.

Short-term: Festive-season buying in October and November could push monthly registrations higher, and makers will compete hard on price, finance offers and new models.

Long-term: If growth continues at this pace, electric models could become a much larger share of India's two-wheeler market within a few years, reshaping the supply chain for components, batteries and fuel retail.

Who is affected: Two-wheeler buyers, vehicle makers and dealers, battery and component suppliers, charging and swapping companies, financiers, and investors looking at clean-mobility businesses.

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