An interesting picture is emerging in India’s electric two-wheeler market. While Japanese companies have been dominating in the case of petrol scooters and motorcycles, Indian companies have moved ahead in the race of battery-powered scooters. Domestic brands like TVS, Bajaj and Hero are now becoming the first choice of customers, while big companies like Honda and Suzuki are still trying to catch up.
Monthly sales of electric two-wheelers (E2W) in the country have now reached about 1.23 lakh units. TVS Motor Company, Bajaj Auto and Hero MotoCorp together hold about 60 percent share in this rapidly growing market.
These companies have created a strong identity through their electric models (TVS iQube, Bajaj Chetak and Hero Vida). TVS and Bajaj had entered the electric segment in 2020 itself, while Hero entered in 2022. They are now getting the benefits of early investment and aggressive strategy in the form of market share.
Puneet Gupta, director of S&P Global Mobility, says that Indian companies appear more confident about the long-term future of battery electric vehicles (BEVs). This confidence is motivating them to continuously invest in electric technology. According to him, strong service network and after-sales support has also increased customer confidence, especially where brands like TVS have taken the lead on this front.
Honda is not getting the response as expected
Honda Motorcycle and Scooter India entered the electric market with the Activa E and QC1, but sales so far have not been as per expectations. According to vehicle portal data, the company has been able to sell less than 4,000 electric two-wheelers in the last 12 months.
In comparison, TVS achieves this much sales in three days and Bajaj in less than five days. Data from the Society of Indian Automobile Manufacturers shows that the Activa E or QC1 will not be produced after August 2025 and dealers are busy clearing out the existing stock.
A total of 11,168 units of these two models were produced since their launch, which is almost three times the retail sales figures. In view of the slow demand, the company has also changed its long term estimates. While in 2024 the company had estimated that one-third of its portfolio would be electric by 2030, it reduced it to 20 percent by the beginning of 2025.
Suzuki also had a slow start
Suzuki Motorcycle India had introduced the e-Access, the electric version of its popular scooter, at the Bharat Mobility Expo in January 2025. Production began in May, but commercial sales could begin only in January 2026.
According to the data, only 877 units were produced between May and January. According to the vehicle portal, retail sales of about 489 units were recorded in January and February together. To increase demand, the company is also giving benefits worth about Rs 20,000 and a free charger worth Rs 18,000.
Yamaha’s partnership strategy
Yamaha Motor India has chosen the path of partnership instead of direct investment. In early February, the company launched the EC-06, which is based on an indie platform developed by Bengaluru-based EV startup River Mobility. Yamaha had bought stake in River two years ago and has now entered the market through the same partnership.
River introduced its Indy electric scooter in February 2023 and the EC-06 uses the same technology. This shows that Japanese companies are currently entering the market with a cautious strategy.