Bajaj Auto has made a strong comeback in India’s fast-growing electric two-wheeler (E2W) market by reclaiming the second position in monthly sales. After briefly losing ground to Ola Electric in August due to supply chain disruptions, the Pune-based automaker has bounced back with its Chetak range of e-scooters, securing a 20% market share in September. Meanwhile, Ola Electric slipped to fifth place, marking a shift in the competitive EV landscape.
According to the latest Vahan portal data, Bajaj Auto sold 5,935 units in September, which translated into a 20% share of the total E2W market. The recovery came after a tough August when Bajaj’s sales dropped over 30% to 11,802 units due to a rare earth magnet supply shortage caused by restrictions in China.
The company, however, resumed production and restored supplies by the end of August, enabling its Chetak scooters to regain traction in the domestic EV market.
The rare earth supply crunch had a significant impact on Bajaj’s production capacity. Heavy rare earth magnets are critical components for electric scooter motors, and China’s export curbs disrupted global supply chains.
Rajiv Bajaj, Managing Director of Bajaj Auto, had earlier cautioned that such shortages could temporarily halt production, making it difficult to meet festive season demand. He also noted that switching to alternative suppliers or redesigning key parts would increase costs and delay operations.
Despite these challenges, Bajaj Auto has successfully normalised its supply chain and scaled up production to meet rising demand.
Eric Vas, President of Bajaj Auto’s Urbanite Business Unit, emphasized that customer demand for Chetak scooters remains robust. Deliveries against pending bookings have resumed, and production capacity is being ramped up to ensure timely availability.
With a reputation for durability and advanced design, the Chetak has been positioned as a premium yet reliable e-scooter, attracting students, professionals, and urban commuters alike.
While Bajaj regained its spot, Ola Electric witnessed a sharp decline in September. The Bhavish Aggarwal-led company managed to sell only 3,694 units, which accounts for just 12% of the market share.
This decline pushed Ola behind both Ather Energy and, for the first time, Hero MotoCorp, reflecting stiff competition and shifting consumer preferences in the E2W space.
The latest E2W sales data shows a reshuffling in leadership positions:
TVS Motor maintained its leadership with 6,769 units sold and a commanding 22% market share.
Bajaj Auto followed with 5,935 units, securing the second spot at 20%.
Ather Energy captured the third position with 5,528 units and an 18% share.
Hero MotoCorp, in a notable leap, secured the fourth spot, overtaking Ola.
Ola Electric fell to fifth position with 12% market share, signaling a loss of momentum.
TVS further strengthened its portfolio with the recent launch of the TVS Orbiter at ₹99,900, targeting entry-level EV buyers and broadening its reach beyond the popular iQube range.
Beyond its EV success, Bajaj Auto remains a dominant player in the global two-wheeler and three-wheeler markets. With over 21 million motorcycles sold in more than 100 countries, Bajaj holds the title of India’s No.1 motorcycle exporter.
Additionally, Bajaj is the world’s largest manufacturer of three-wheelers and the first two-wheeler company to achieve a market capitalization of ₹1 trillion. For over 75 years, Bajaj Auto has been synonymous with innovation, quality, and affordable mobility solutions.
Conclusion
Bajaj Auto’s resurgence in the E2W segment highlights its resilience and adaptability in overcoming supply chain challenges. With demand for the Chetak scooter strengthening and production normalizing, Bajaj has reinforced its position as a serious contender in India’s EV market.
Meanwhile, Ola Electric’s slide to fifth place underscores the volatility of the EV two-wheeler market, where competition is intensifying and consumer preferences are rapidly shifting. As festive demand picks up, the battle among TVS, Bajaj, Ather, Hero, and Ola will define the next growth phase of India’s electric mobility revolution.