Electric 2W Market Share Feb 2023 – Ola, Ather, TVS, Hero Electric

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Get a glimpse of key OEM players in India with their market share in the two-wheeler segment as Ola led the way in February 2023

As per a recent study the electric two-wheeler market is anticipated to account for more than 80% of the total two-wheeler market by 2030. Electric vehicles will be essential in India’s move towards a sustainable future. This will help in reducing carbon footprint and also the cost of transportation. Moreover, due to the increase in customer awareness towards the above, it is expected that electric two-wheelers will gain much bigger traction in the future.

Ola winning the race

In terms of market share by two-wheeler market leaders, Ola Electric is winning the race with 26.9% of the Indian market share. This means every one in four electric two-wheelers is sold by Ola electric.

ola s1 air-7

TVS Electric

TVS is already one of the popular choices in the IC two-wheeler segment. The same goes for its EV line-up in which it comes in second place attaining a share of 19.2% in India. TVS has much bigger plans in terms of gaining market share and giving a tough challenge to the other OEMs.


Ather is a Bangalore-based start-up that has attracted several customers with its high-end and feature-packed scooters. Ather has a market share of 15.2% under this category. Ather is planning to boost sales by also providing charging infrastructure named “Ather-Grid”. Sales are mostly driven by the Ather 450x.

2022 Ather 450 Plus 450X

Hero Electric and Ampere

Hero is one of the old names in Indian households where they already have attained customer confidence by providing all range two-wheeler vehicles. Hero’s market share is 8.9% and it still has to catch up in the electric two-wheeler segment as it is lagging behind other competitors such as Ola, Ather and TVS electric. Ampere, which is another player in the electric two-wheeler category, has a market share of 8.8%.

Hero Electric Hyx Nx Side View

Okinawa and Others OEM’s

Okinawa, a Gurgaon based company, established in 2015 and which offers several electric two-wheeler options including iPraise+ and OKHI-90, has a market share of 5.8%.

Finally, there are several small players which are not very famous in the market and come under 15.2% of the market share in India