OLA no longer in top 3

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The EV market has been a hot topic recently, and February 2025's sales report has caused quite a stir. For the first time in a while, Ola Electric, the leader in the electric two-wheeler space, has dropped out of the top three.

Let’s break down the numbers and explore which brands are making waves.

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In January 2025, 98,259 electric two-wheelers were registered, but February saw a drop to 75,998. This slowdown hints at a potential market cooling, but some brands are still holding strong.

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Here’s how the top brands performed:

10. Revolt Motors: 760 sales (down from 1,061 in January), 1% market share

9. Kinetic Green: 765 sales (up from 807 in January), 1% market share

8. BGAUSS: 1,218 sales (down from 1,451 in January), 1.6% market share

7. PURE EV?: 1,566 sales (down from 1,650 in January), 2% market share

6. Hero MotoCorp (Vida): 2,677 sales (up from 1,623 in January), 3.5% market share

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5. Ampere: 3,726 sales (up from 3,638), 4.9% market share—growth in both sales and market share.

4. Ola Electric: 8,647 sales (down from 24,376), 11.3% market share (down from 24.9%)—the biggest surprise. Ola claims registration delays were the cause for the dip.

3. Ather Energy: 11,789 sales (down from 13,059), 15.5% market share (up from 13.2%)—showing resilience despite lower sales.

2. TVS Motor Company Motor: 18,748 sales (down from 23,984), 24.6% market share (slight increase from 24.3%)—maintaining a strong position.

1. Bajaj Auto Ltd: 21,335 sales (down from 21,435), 28% market share (up from 21.8%)—surging to the top with solid growth in Chetak sales.

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- River: 603 sales (January: 610) – minimal change

- Bounce: 383 sales (January: 560) – decline

- Joy E-Bike: 400 sales (January: 503) – decline

- Quantum Energy: 225 sales (January: 332) – decline

- Simple Energy: 218 sales (January: 286) – decline

- Oben Electric EV: 201 sales (January: 186) – growth

- Ultraviolette Automotive: 47 sales (January: 78) – decline

- Honda Motorcycle & Scooter India Pvt. Ltd.: 6 sales – just starting up!

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March 2025 could be a defining month, with key factors to watch:

(1) FAME II Subsidy Cut: A reduction in subsidies could impact sales

(2) Ola Electric’s Gen 3 Deliveries: This could help Ola’s comeback

(3) Bajaj Chetak 3503 Deliveries: Bajaj’s continued rollout will solidify its top spot

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Stay tuned to Lilypad for the latest in the EV market, test rides, and special offers. Note: Data sourced from VAHAAN, slight deviations may occur.