Hero Motocorp Overtakes Ola Electric In EV Race, Climbs To Fourth Spot In October
Hero's electric vehicle arm, Vida, recorded 7,258 scooter sales as of October 14, surpassing Ola Electric’s 6,335 units during the same period.
In a significant reshuffle in India's electric two-wheeler market, Hero MotoCorp has overtaken Ola Electric to become the fourth-largest EV manufacturer in the country for October, according to Vahan retail data.
Hero's electric vehicle arm, Vida, recorded 7,258 scooter sales as of October 14, surpassing Ola Electric's 6,335 units during the same period. The shift highlights the growing dominance of traditional internal combustion engine manufacturers in the EV space, reversing earlier trends that favoured startups.
Bajaj Auto continues to lead the electric two-wheeler segment with 12,620 units sold so far this month, closely followed by TVS Motor at 12,246 units. Ather Energy — the only startup still in the top three — secured third place with 10,777 units.
For Ola Electric, which had maintained market leadership since its 2021 launch, this is the first time it has slipped to fifth position. Industry insiders link its decline to ongoing quality issues and inadequate after-sales service, which have dented customer trust. Once the undisputed market leader through 2024, Ola now faces stiff competition from legacy players.
Hero MotoCorp's rise has been powered by the steady performance of its newly launched VX2 range, which hit the market in July 2025. The company has maintained monthly sales above 10,000 units since then:
10,544 units in July
13,374 units in August
12,799 units in September
The VX2 Go variant is priced at Rs 44,990 under the Battery-as-a-Service (BaaS) model and Rs 73,840 with the battery included. The VX2 Plus starts at Rs 57,990 (BaaS) and goes up to Rs 82,790 with the battery.
Hero has also been pushing its V2 series, launched in December 2024, which includes three models priced between Rs 74,000 and Rs 1.2 lakh. The entry-level V2 Lite, equipped with a 2.2kWh battery, offers a claimed range of 94 km on a single charge.
With sales in the first two weeks of October 2025 already nearly matching its entire October 2024 figure of 7,356 units, Hero is on track to double its year-on-year growth by the end of the month. The company's market share in the electric two-wheeler segment has grown from around 5% in October 2024 to over 12% currently.
