India's electric two-wheeler market saw a major shift in 2025, with last year's leader Ola Electric, losing a large part of its market share, while traditional auto companies strengthened their position.
Ola Electric's market share dropped sharply to 16.1 per cent in 2025 from 36.7 per cent in 2024.
Despite overall demand for electric two-wheelers improving, the company sold 1,96,767 vehicles during the year, according to data from the government-run Vahan portal.
The sharp fall highlights the growing challenges Ola Electric faced through the year. Ola Electric's troubles were also linked to operational issues, including customer complaints related to service delays and inconsistent deliveries.
Meanwhile, Bhavish Aggarwal-run electric two-wheeler maker reported a consolidated net loss of Rs 418 crore in second quarter of the current financial year (Q2 FY26).
The revenue from operations of the firm also followed suit and dropped nearly 43 per cent year-on-year to Rs 690 crore in Q2, compared to Rs 1,214 crore in Q2 FY25.
In an earlier exchange filing, the firm said that "For the Auto segment, we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market.
The stock of Ola Electric is also not performing well. Around 1:40 p.m., the company's shares were down 3.34 per cent at Rs 34.97. Over the past five days, the stock had gained 1.36 per cent.
However, it was down 13.77 per cent over the last one month and had delivered a negative return of nearly 19 per cent in the past six months.
On a year-to-date (YTD) basis, the shares were lower by 59.44 per cent, according to official data.
At the same time, established manufacturers with strong dealer networks and better after-sales support gained ground.
TVS Motor Company emerged as the market leader in 2025, capturing a 24.2 per cent share after selling 2,95,315 units.
Bajaj Auto followed closely with a 21.9 per cent market share, further tightening competition in the segment.
