TVS is currently leading the electric two-wheeler segment in India, with close to 25% market share in May 2025.
A few years ago, many Indian consumers viewed electric two-wheelers as an emerging technology rather than a practical everyday choice. However, sales growth in this sector is now accelerating rapidly, with new records being set almost every month. A relevant example is TVS Motors, which recently crossed the 1 million cumulative EV sales milestone.
TVS’s 10 lakh EV sales journey
TVS entered the electric two-wheeler market with the iQube in January 2020. As a new entrant in the EV segment, sales were relatively slow compared to the pace seen today. This was also because the iQube was initially available only in select cities. It was introduced in a phased manner across the country, leading to a steady increase in sales over the years.
In the initial phase, TVS’s market share in the EV sector was just 1%. It took almost three years to achieve the target of cumulative sales of 1 lakh units. Growth thereafter was very rapid and the next one lakh sales were achieved in just 10 months. There was a brief lull during 2023-24 when the electric two-wheeler segment was plagued with supply chain issues and some other constraints.
TVS achieved the milestone of 3 lakh cumulative EV sales in April 2025, almost 4 years and 4 months after its entry into the segment. As TVS expanded its EV sales network and with growing consumer confidence, the next 4 lakh sales were added in just 17 months. Cumulative sales further accelerated to 7 lakh to 8 lakh units in just three months (October-December 2025). This was the time when TVS Orbiter was launched.
TVS recently achieved the milestone of 1 million EV sales this year. In 2026, TVS posted its best ever monthly sales of 51,605 units in May. This is the second highest monthly sales number ever in the electric two-wheeler segment. The highest monthly sales ever recorded by Ola Electric were 53,647 units in May 2024.
Half a million sales are expected in 2026 alone
Over the past few years, TVS has steadily increased its market share in the electric two-wheeler segment. From 1% in 2020, TVS aims to increase its market share to around 8% in 2022. This will increase to more than 20% in 2023. In 2025, TVS EV sales stood at 3,15,083 units. With this, TVS emerged as the top EV maker in the country. TVS has retained this status from April 2025.
There is a lot of potential ahead for electric two-wheeler manufacturers as EV sales constitute only around 10% of the total two-wheeler sales in the country. Geopolitical tensions in the Gulf region and concerns over ethanol-blended fuels are prompting more buyers to view EVs as a safe long-term option. Strong double-digit growth in EV sales clearly highlights these sentiments.
TVS has already sold 2,19,232 electric scooters in 2026. This accounts for about 70% of total EV sales in 2025. At this rate and considering the upcoming festive season, TVS could achieve 5 lakh EV sales in a year. This will be another big milestone for the brand. This year, total electric two-wheeler sales may cross the 2 million annual sales mark for the first time.