TVS Motor Company has overtaken Ola Electric to become the country’s largest electric two-wheeler OEM on a cumulative registration basis. According to Vahan data as of August 24, 2026, TVS recorded 11,27,873 electric scooter registrations since CY2020 as it moved 10,842 units ahead of Ola’s tally of 11,17,031 units.
The change comes after TVS steadily increased its annual volumes while Ola’s registrations fell big time from their CY2024 peak. The iQube has been at the centre of TVS’ growth as the company expanded the range across multiple battery capacities and price points. The portfolio now extends from the entry-level versions to the iQube ST which gets a 5.3 kWh battery and a claimed 212 km IDC range.
The 3.5 kWh iQube offers 145 km of IDC range while the iQube S with its 4.7 kWh battery can cover up to 175 km on the IDC cycle. TVS has also added the Orbiter to its electric scooter portfolio as a more accessible offering. TVS recorded just 234 registrations in CY2020 before climbing to 5,298 units in CY2021 and 50,182 units in CY2022 in the electric two-wheeler space.
The figure then rose to 1,77,025 units in CY2023 which was followed by 2,37,095 units in CY2024 and 3,15,081 units in the last calendar year. TVS has already reached 3,42,958 units in the current CY – taking its cumulative total beyond 11.27 lakh units. Ola built its lead much faster during the early years as registrations increased from 1,16,542 units in CY2022 to 2,77,610 units in CY2023 before reaching 4,29,187 units in CY2024.
Its S1 range covers multiple battery and performance configurations. The subsequent collapse in Ola’s registrations has changed the pecking order the cumulative rankings. Its volume fell to 2,04,542 units in CY2025 with a 52 per cent decline from CY2024 before dropping further to 88,910 units as of data available till a couple of days back.
TVS, by comparison, has recorded 3,42,958 units during the same period. The CY2026 figures remain incomplete but TVS has already established a lead of 10,842 units and it may not change in the remaining course of the year. Recently, Ola abandoned its company-owned direct retail and service strategy in favour of a traditional dealer-based model.
