Bajaj Auto’s EV Market Share Halves in Aug, Ather Energy Makes Strong Inroads

The two-wheeler industry has been in focus across the spectrum of EVs and ICE with the upcoming GST Rate rationalization, amongst other aspects. The electric two wheeler sales in Aug. did not disappoint with action across the board.

While Bajaj Auto slipped from the second position to the fifth, players like Ather gained market share. TVS Motor continued to rule the space with over 23% market share. The focus has firmly shifted on profitability and experts noted that Ola and Ather have the right product at the right price.

Ather held their Community Day where they showcased their upcoming EL Platform while Ola held their event on Aug. 15 this year, announcing key measures such as integration of their own 4,680 cells in their scooters. Let’s delve into the current month’s performance and see what the company’s recent measures mean for the year.

Bajaj Auto was the key player in shifting market share amongst peers. The company slipped to the fifth spot with 11% market share versus 22% in July. Bajaj Auto announced that it has secured sufficient rare earth magnet supply. However, the company seems to be impacted due to the same, something which they warned the Street about, post Q1 FY26 earnings conference call.

Ather Energy is the notable gainer this month, with market share increasing to 17%. This is the highest position in terms of market share that the company finds itself in. Ather has been expanding in North India, in terms of store count. With the Rizta launch, Ather is now able to attract more customers and address a far higher market compared to its erstwhile launch of performance scooter 450x.

Ather also unveiled their new EL Platform, its next-generation Scooter platform which will lead to atleast three new launches. This is only the company’s second platform in the last decade since launch, and will aid faster and cheaper manufacturing, boosting the total gross margins.

Ola and TVS were able to maintain their market shares of 18% and 23% respectively. TVS recently launched the ‘Orbiter’ – their new commuter scooter with 158 kms range on a single charge, which will complement i-Qube as well.

Ola Electric while under pressure from its closest peer Ather, has been able to defend its share and also announced integration of in-house Li-ion cell from September 2025. The in-house Lithium-ion cell goes live in Roadster X+ 9.1 kWh and S1 Pro+.

Ola also showcased Gen 4 platform which will support the next generation of company’s EVs. The platform offers 41% reduction in cost over Gen1. Going forward, the space seems to be tightening in terms of competition with Hero MotoCorp also making inroads.

The new Vida VX2 from Hero seems to have taken well by consumers. Bajaj Auto is also expected to come back strongly post resumption of rare earth magnets, while the battle between Ola and Ather intensifies for the third position.