In Short : In FY25, legacy auto firms Bajaj Auto and TVS Motor captured 40% of India’s e-scooter market, driven by the success of Bajaj Chetak and TVS iQube. Bajaj led Q4 with a 29% share, reflecting a shift towards established brands amid challenges for newer players. Reliable networks and brand trust have solidified their position in the evolving electric two-wheeler market.
In Detail : Legacy automakers Bajaj Auto and TVS Motor have made a remarkable impact on the electric scooter market in India, capturing a substantial 40% share in FY25. This success is largely attributed to the strong performance of their flagship electric models, the Bajaj Chetak and TVS iQube. The market leadership of these companies highlights a growing consumer preference for established brands over newer entrants.
Bajaj Auto took the lead in the fourth quarter of FY25 with a commanding 29% market share, driven by robust sales of the Chetak e-scooter. TVS Motor closely followed, as both companies crossed the significant milestone of selling over 200,000 units during the fiscal year. This impressive performance demonstrates their ability to adapt to the shifting landscape of the electric two-wheeler segment.
The rise of these legacy firms comes at a time when newer electric vehicle manufacturers, such as Ola Electric, are facing increased competition and policy challenges, including reduced government subsidies. While these emerging players initially stirred the market with innovative models and aggressive pricing, maintaining long-term growth has proven challenging. In contrast, Bajaj and TVS have leveraged their deep-rooted brand reputation and established distribution networks.
Bajaj’s success is partly due to its strategic expansion of dealership networks, which has enhanced accessibility and after-sales service, fostering consumer confidence. The company’s consistent focus on quality and durability has also contributed to the Chetak’s popularity, positioning it as a reliable choice among electric scooters. As electric mobility gains traction, Bajaj’s ability to maintain quality across its offerings remains a key factor in its sustained market presence.
TVS Motor’s growth trajectory is similarly impressive, driven by the widespread acceptance of the iQube model. TVS has not only emphasized product reliability but has also focused on building a comprehensive service infrastructure, addressing a common concern among electric scooter buyers. The brand’s balanced approach of innovation coupled with a legacy of trust has resonated well with consumers looking for dependable electric two-wheeler options.
The dominance of Bajaj and TVS in the electric scooter market indicates a maturation of the segment, where consumer choices are increasingly influenced by brand trust and service reliability. As the market continues to evolve, these companies’ strategic positioning and commitment to quality are likely to sustain their leadership. Their ability to capitalize on existing strengths while innovating within the electric vehicle space sets them apart in the competitive landscape.
