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E2W registrations in January saw a sharp 19.1% uptick to 1,16,707 units from 97,989 noted in December

TVS saw a 32% uptick in registrations, while Bajaj also noted a 27% MoM growth in January

Ola Electric’s monthly sales slipped further to 7,221 units in January, down 20% MoM

Automotive giant TVS Motor retained its lead in the country’s burgeoning electric two-wheeler (E2W) market, reporting the highest number of EV scooter registrations in January.

TVS Motor, which sells EV models like iQube and Orbiter, registered 33,296 E2W in January, up 32% from over 25K registered in the previous month, as per Vahan data. The company had managed to be the top contender for the top spot throughout last year by selling almost 2.2 Lakh E2W.

The automaker claimed to have reported the highest ever quarterly EV sales volume in Q3 FY26 with over 1 Lakh sales in the quarter. The company’s E2W sales for the December quarter shot up 40% YoY.

After China’s decision to curb the export of rare earth elements last year, TVS Motor had seen production delays for its vehicles, thereby leading to a decline in its overall sales in Q2 FY26. During an earnings call last week, the company’s management reassured investors that it had almost resolved the issue of rare earth magnet supply, which had disrupted manufacturing output earlier in the year.

Similar to TVS, legacy automaker Bajaj Motors also noted a 28% month-on-month (MoM) jump in E2W registrations to 24,211 units. While the company lost its lead in November due to the aforementioned rare earth metal crisis, it has since made considerable progress in regaining market share.

As per the company, EV sales revenue made for 25% of its top line in Q3. It believes that the new range of its flagship Chetak electric scooters is expected to further prop up sales numbers.

The third largest E2W manufacturer, Ather Energy, also saw a similar growth in sales in the first month of 2026. It sold 20,786 E2W in January, marking a 21% rise from 17,204 in December. The company is set to disclose its Q3 numbers on Monday (February 2).

The broader EV market itself experienced a reversal in the early days of 2026, after interest began to dwindle in 2025. Overall, E2W registrations in January saw a sharp 19% uptick to 1.17 Lakh units from 97,989 noted in December.

Growth in E2W registrations was almost flat in 2025 with 12.80 Lakh units sold as against 11.44 Lakh in the previous year.

Hero Motocorp, which raced up the ranks of top 2EW sellers in India in 2025, registered a 17% growth in its January sales to 12,608 units from 10,763 registrations reported in December.

Ola Electric’s Monthly Registrations Fail To Cross 10K

Although the top OEMs in the space saw an increased user interest in their EV offerings over the past few months, Ola Electric continued to see a decline in consumer interest in January. The Bhavish-Aggarwal led EV manufacturer registered 7,221 units in the month, down 20% from 9,027 in December last year.

After kicking off 2025 firmly in the lead in the E2W race, Ola Electric has now slipped to the fifth spot. While sales remained below 10,000 units for a third consecutive month in January, the company has been facing one battle after another, including regulatory issues, operational breakdowns and product delays.

Ola Electric has made headway in fixing some of these issues, especially addressing its lack of after-sales service. In October, it launched “HyperService” to offer “one-day resolution” of service- issues, which has now expanded to over 80% of service requests nationwide, as per the company.

However, it is far from overcoming reputational damage stemming from customer dissatisfaction that has led to regulatory inquiries into its business. Amid all this, the company recently announced that 5% of its staff will be laid off, its second restructuring round in under a year after it fired 1,000 employees last March.