Ather Gains While OLA Losses In 2026 Two-Wheeler EV Segment

Please Note: These numbers were taken from the VAHAN portal and are accurate as of 31st January 2026. These figures represent vehicles registered during this month. Figures for Chetak EV and KTM are listed as one with Bajaj sales figures which for January 2026 are 187,140

The electric two-wheeler segment delivered a mixed but telling performance in January 2026, with total registrations from these brands reaching approximately 36,563 units. Ather Energy emerged as the clear leader, climbing to 20,736 units, up 60.7 percent from January 2025. Its consistent growth reflects expanding retail presence, improved production stability, and strong consumer confidence in the 450 series, which balances performance, fast charging, and software-led ownership.

Ola Electric, in contrast, saw registrations fall sharply to 7,221 units, a steep 70.3 percent year-on-year decline from its January 2025 peak.

 The drop highlights ongoing challenges around service experience, software reliability, and customer trust, which appear to have diluted its early volume-led advantage despite aggressive pricing.

 Greaves Electric Mobility posted steady gains with 5,161 units, supported by affordable and practical scooters like the Primus and Magnus that continue to find traction in semi-urban and price-sensitive markets.

Also Read- Hero Leads 2026 January Two Wheeler Market

Newer players also made visible progress. River Mobility registered 2,487 units with the Indie, indicating early acceptance of design-focused alternatives. 

Revolt and Ultraviolette remained niche players, with 629 and 329 registrations respectively, catering to commuter electric motorcycles and high-performance enthusiasts. Overall, the segment shows signs of maturation, with buyers increasingly prioritising reliability, service quality, and real-world usability over headline volumes.

Source- VAHAN