Electric scooter: The financial year 2025 has proved to be a major turn for the electric two-wheeler industry. During this financial year, there were many ups and downs in the market, but the biggest shock was to Ola Electric. Ola Electric lost its crown in FY2025 after the country’s number-1 electric two-wheeler company remained for a long time continuously. It was replaced by traditional automobile companies like TVS and Bajaj, who recorded tremendous growth in the electric segment.
Trequent collision between TVS IQUBE and Bajaj Chetak
TVS and Bajaj have created history by selling more than 2.5 lakh electric scooters for the first time in this financial year. According to the data, TVS sold 2.73 lakh units of IQUBE, while Bajaj sold 2.60 lakh units Chetak. In this way, TVS sold just 13,000 units of scooters from Bajaj, showing how close the match between the two brands was.
Last year i.e. in FY2024, the difference between TVS and Bajaj was about 74,000 units, which has now been reduced by Bajaj to just 13,000 units. That is, Bajaj has made a tremendous grip this year.
Strong growth figures
While the sales of TVS IQUBE increased by 44% annually, the sale of Bajaj Chetak saw a jump of 125%. The TVS sold 83,000 more scooters this year, compared to FY2024, while Bajaj sold an additional 1.44 lakh units. This growth shows how the two companies took advantage of their investment in electric mobility.
Festive season created a blast
In the festive season of October 2024, both these companies gave their best monthly performance ever. While TVS sold around 29,000 Iqube, Bajaj recorded about 30,000 chetak sales. In the 12 months of the year, TVS won in May, July, August, September, January and February, while Bajaj sold more in the remaining months.
This competition is an indication that the electric scooter segment in India is no longer a field of new startups, but traditional companies have also firmly landed in this race.
Ola Electric’s falling grip
While TVS and Bajaj showed firmness, FY2025 was quite disappointing for Ola Electric. The company’s sales fell to a decline, and at the same time, Ola also shocked in the stock market. However, Ola has not given up. The company is constantly updating its product portfolio and now its entire focus is on the electric motorcycle segment.
FY2025 has changed the picture of the Indian EV industry. Now startups like Ola are getting a tough challenge from traditional legendary companies. This close race between TVS IQUBE and Bajaj Chetak is going to be even more interesting in the coming months.
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