Bajaj Auto Pips Ola Electric To Become Biggest EV Brand In India, Competition, Expands & Innovates

Bajaj Auto Pips Ola Electric- Bajaj Auto has pipped Ola Electric in Dec 2024 monthly sales to become the biggest EV brand in the Indian market. The data at the Vahan portal revealed that Bajaj Auto had a market share of 25 per cent in the electric two-wheeler segment in India, which is up by 3 per cent from November 2024. Ola Electric is facing a lot of heat from Bajaj as well as TVS in the electric scooter segment due to the newly introduced low-cost products.

Bajaj Auto Pips Ola Electric

The Bengaluru-based EV brand’s market share declined from 24 per cent (Nov 2024) to 19 per cent in Dec 2024. Ather Energy’s market share also saw a growth of 3 per cent from 11 per cent in Nov 2024 to 14 per cent in Dec 2024.  However, TVS Motor Company maintained its existing tally of 23 per cent. Hero MotoCorp, on the other hand, witnessed a steep loss of 5 per cent in Dec 2024 and its market share reached an all-time low of 1 per cent from 6 per cent.

Launches Affordable E-Scooters

Ola Electric has unveiled four cheap electric scooters for gig workers with portable battery packs in the domestic market: the Gig, Gig+, S1 Z, and S1 Z+ models. These e-scooters were priced between Rs 39,999 to 64,999 (ex-showroom). In addition, the corporation has established 800 new dealerships around the country, bringing the total to 4000 outlets.

Chetak 35 Series Modern Features

Bajaj Auto also unveiled the Chetak 35 series in the country, making the bold claim that the new e-scooter line is not only packed with current technologies, but will also save 45 percent, resulting in higher margins. Bajaj Chetak 35 was offered in three variants: 3501, 3502, and 3503. The business published the prices for 3501 and 3502, however the price for 3503 has yet to be revealed.

Also Check:- Yamaha FZ-X Chrome Design

Gears Up for Jupiter EV Launch

TVS Motor Company is also expanding its EV footprint across the country by opening new dealerships for the iQube. In addition to the 4000 regular dealerships, there are already 250 EV-only showrooms. The firm is planned to launch a brand-new electric scooter, dubbed the Jupiter EV, in India by March 2025. The new TVS e-scooter could make its premiere at the Bharat Mobility Global Expo 2025 on January 17.

Ather Energy Expands in Northern India 2025

Last but not least, Ather Energy is increasing its presence in northern India. The company is seeing high EV demand from states such as Gujarat and Maharashtra. Ather Energy has also announced the debut of the 2025 450X in the domestic market. The regular variant, which comes with a 2.9 kWh battery pack, costs Rs. 1.47 lakh (ex-showroom), while the top-spec variant, which includes a larger 3.7 kWh battery, costs Rs. 10,000 more.

Ola Electric to Become India’s New 2W EV Leader

In December 2024, Bajaj Auto emerged as the leader in India’s two-wheeler electric vehicle (2W EV) market, surpassing Ola Electric. According to data from the government’s Vahan portal, Bajaj Auto’s market share rose by 3%, reaching 25% in December, up from 22% in November. This shift marks a significant milestone for Bajaj in the growing electric two-wheeler segment.

Also Check:- New Honda CB300R Launched

Ather, Bajaj grow; Ola, Hero Share Declines

In December, Ather Energy boosted its market share in the two-wheeler EV segment to 14%, up from 11% in November. TVS Auto’s market share stayed at 23% last month.Hero MotoCorp’s market share decreased by 5% to 1% in December, from 6% in November. At the same time, Ola Electric’s market share fell by 5% month on month (Mum) to 19% in December. It was 24 percent in November.

Competition, Expands & Innovates

Ola Electric, founded by Bhavish Aggarwal, is experiencing stiff competition in the two-wheeler EV category as businesses including as Bajaj and TVS introduce lower-cost, higher-quality EV scooters. Ola Electric has also revealed new vehicles in response to the increased competition. The company boosted its store count from 800 to 4,000 and expects to employ its batteries in electric scooters starting April 2025.

Bajaj Auto Pips Ola Electric Touchpoints & Offerings

At the same time, Bajaj Auto’s new platform not only has the most recent features, but the business claims that it will save 45%, resulting in higher margins. TVS is also constantly adding touchpoints for their electric scooter I-Qube. Aside from 250 EV shops, the organisation has grown its touchpoints to around 4000 stores. Ather Energy is also expanding touchpoints in North India, with demand coming from strong EV markets such as Gujarat and Maharashtra.

Also Check:- Harley-Davidson X440 Dark Design

Conclusion

Bajaj Auto’s rise to the top spot in India’s electric vehicle (EV) market, surpassing Ola Electric, marks a significant shift in the two-wheeler EV segment. With its innovative platform, offering advanced features and cost-saving benefits, Bajaj has positioned itself as a strong contender in the competitive EV landscape. As other brands like TVS and Ather Energy also expand their presence, the competition in the Indian EV market is set to intensify, leading to more options and advancements for consumers.

Frequently Asked Questions

What is Bajaj Auto’s market share in December 2024?

Bajaj Auto’s market share in December 2024 was 25%.

How many stores does Ola Electric have now?

Ola Electric now has 4,000 stores across India.

When is TVS planning to launch the Jupiter EV?

TVS plans to launch the Jupiter EV by March 2025.

What is the price of Ather Energy’s 2025 450X?

The 2025 Ather 450X starts at Rs. 1.47 lakh (ex-showroom).

Leave a Comment