Legacy companies speed in electric 2-wheeler lane; startups slow

The market share of top electric two-wheeler startups, including Ola Electric, Ather Energy, and Greaves Electric, dropped to 48.8% in Q1 from 59% last year. Traditional companies like Bajaj Auto and Hero MotoCorp increased their presence, capturing around 30% of the market. Electric two-wheeler sales grew 1.4% to 221,548 units. Ola Electric led with 107,911 units. Hero MotoCorp aims to expand its portfolio and network, while Bajaj Auto focuses on growth and long-term presence. TVS also plans multiple EV launches. The competing firms are ramping up efforts for higher volumes and market share.