TVS Motor has overtaken Ola Electric to become India’s top electric two-wheeler company. The Chennai-based giant delivered 35,304 iQube and Orbit scooters in the first 24 days of August, leaving Ola far behind at just 8,466 units sold. This marks a dramatic shift in India’s booming EV two-wheeler market.
How TVS Surged Past Ola in EV Sales
Ola Electric was the first Indian EV company to sell 10 lakh units by March 2026. TVS reached the same milestone just 2.5 months later, in the second week of June. By the end of July, Ola’s cumulative sales stood at 11,08,565 units versus TVS’s 10,92,569 – a lead of only 15,996 units. The August numbers have now pushed TVS ahead.
TVS Sales Growth Shows Stunning Acceleration
TVS took over three years to sell its first 100,000 iQube units. It then needed just 10 months to go from 100,000 to 200,000 units. The company crossed 300,000 EVs in April 2024, 52 months after launch. From 300,000 to 700,000 units, it took only 17 months. The 700,000 to 800,000 mark was crossed in just three months.
Monthly Record and Market Share Rise
In June 2026, TVS recorded its highest-ever monthly sales of 55,783 units. This beat Ola’s previous record of 53,647 units set in May 2024. In the first seven months of CY2026, TVS delivered 342,958 units, a 75 percent jump year-on-year. This already exceeds its full CY2025 sales of 315,081 units.
TVS market share in the EV two-wheeler segment grew from 1 percent in CY2020 to 8 percent in CY2022. It hit 20 percent in CY2023 with 177,025 units. With a daily sales rate of around 1,673 units, TVS is on track to cross 500,000 annual EV sales this year for the first time. This would mark a 60 percent increase over its best previous year.
