Ola Electric’s Market Share Dropped to Below 6% Amid Rising Customer Concerns

The Indian electric two-wheeler market has seen significant shifts, particularly impacting Bhavish Aggarwal-led Ola Electric. The two-wheeler company has seen a drastic fall in market share to below 6% in Jan 2026, which was over 35% at the end of 2024

Since January 2025, Ola Electric accounted for 14.9% of the market, roughly 2.04 lakh units, a steep drop from 2024, when it recorded 4.07 lakh units and held a 35.47% market share.

Market Landscape: January 2025

According to Vahan data from January 2025, Ola Electric led the electric two-wheeler segment with a 24.8% share, closely followed by TVS Motor (24.41%) and Bajaj Auto (21.81%). Ather Energy ranked fourth with 13.31%, trailed by Greaves Electric Mobility and Hero MotoCorp.

Decline Amid Customer Concerns

After January 2025, Ola Electric’s market share began to shrink amid persistent customer complaints, including defects, safety concerns, and service shortcomings. Its market share fell to 11.31% in February 2025.

The company briefly recovered to 21.42% in April, but this was short-lived. From September 2025 onward, sales and market share steadily declined, reaching 7.16% in November and a record low of 5.87% in January 2026, with just 5,488 registrations.

Ather Energy Surges Ahead

In contrast, Ather Energy saw a remarkable 72% jump in sales, from 1.26 lakh units in 2024 to 2.18 lakh units in 2025. Its market share rose from 13.31% in January 2025 to 18.16% in January 2026. Ather has also surpassed Ola Electric in market capitalisation and Q2 FY26 revenue, posting ₹899 crore. 

Traditional manufacturers TVS Motor and Bajaj Auto have remained consistent, maintaining leadership in the market. Between January 2025 and January 2026, TVS and Bajaj held market shares of 23.75% and 21.05%, translating to 3.26 lakh and 2.89 lakh units, respectively.

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