Hero MotoCorp, Ather Energy and Greaves Drive 58% of Incremental Electric Two-Wheeler Sales in H1 CY26

India's electric two-wheeler market continued to expand in the first half of calendar year 2026 (H1 CY26), with Hero MotoCorp, Ather Energy, Greaves Electric Mobility, River and BGauss together accounting for 58.4% of the industry's incremental sales, according to an analysis of Vahan retail registration data by BusinessLine. 

The five manufacturers contributed 1,90,054 of the 3,25,286 additional electric two-wheelers sold during H1 CY26. Their combined market share increased to 37% in H1 CY26 from 26% in the corresponding period last year, indicating a broader competitive landscape in India's electric two-wheeler market. 

Hero MotoCorp Emerges as a Key EV Growth Driver 

Hero MotoCorp recorded one of the strongest performances among electric two-wheeler manufacturers during H1 CY26. 

The company's electric vehicle registrations more than tripled to 104,417 units in H1 CY26 from 34,379 units in the year-ago period. 

The momentum continued into Q1 FY27, with registrations increasing 155.8% year-on-year, indicating continued growth in the company's electric mobility business. 

Ather Energy Strengthens Its Position 

Ather Energy continued to strengthen its position among India's pure-play electric two-wheeler manufacturers. 

Ather nearly doubled its H1 CY26 registrations to 167,176 units, while maintaining healthy momentum during Q1 FY27, despite increasing competition from established automobile manufacturers. 

Read More: India's EV registrations crossed 1,90,000 units in May 2026, rising 70% YoY, says Bernstein 

Greaves Electric Mobility Records Strong Growth 

Greaves Electric Mobility outpaced the industry's growth during H1 CY26, with registrations rising 65.2% compared with the industry's 51.4% growth. In Q1 FY27, registrations increased 94.4% year-on-year, ahead of the industry's 63.9% expansion. The company also registered over 10,000 electric two-wheelers in June 2026, with registrations rising 31.1% over May, marking the strongest month-on-month growth among leading OEMs. 

River and BGauss Continue to Scale 

River continued to expand its presence from a relatively small base during H1 CY26, while BGauss maintained strong growth momentum.  

BGauss' H1 registrations increased 82.1%, its Q1 volumes more than doubled year-on-year, and June 2026 registrations rose 12% over May. 

Conclusion 

Hero MotoCorp, Ather Energy, Greaves Electric Mobility, River, and BGauss together accounted for 58.4% of India's incremental electric two-wheeler sales in H1 CY26. The data also indicates broader participation across manufacturers as electric vehicle adoption continued to increase during the period. 

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