EV two-wheeler registrations surge 58% y-o-y in May; fuel supply anxiety a cause for surge, say analysts

Accelerating shopper adoption of electrical mobility, aided by increasing product portfolios, enhancing charging infrastructure and rising participation from each legacy automakers and devoted EV producers together with a bigger push in the direction of vitality safety put up the West Asia conflict led to the surge.
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India’s electrical two-wheeler (E2W) market maintained its robust development trajectory in Might 2026, with complete registrations rising 58 per cent year-on-year to 1.64 lakh items from 1.04 lakh items in the identical month final 12 months, based on Vahan portal registrations information as of 8.30 am on Sunday.

Accelerating shopper adoption of electrical mobility, aided by increasing product portfolios, enhancing charging infrastructure and rising participation from each legacy automakers and devoted EV producers together with a bigger push in the direction of vitality safety put up the West Asia conflict led to the surge.

On a sequential foundation too, EV two-wheeler gross sales grew 18 per cent in comparison with April 2026’s complete registrations at 1.39 lakh items, indicating sustained demand for electrical scooters and bikes throughout the nation.

Poonam Upadhyay , Director, Crisil Rankings, mentioned that the typical month-to-month run fee via the primary half of FY26 was round 1.05 lakh items. The section is now working at a materially greater base, and consistency throughout two consecutive months factors to a structural step-up.

“Three components are driving the expansion. Fuel supply considerations stemming from the West Asia battle has added to shopper anxiety round petrol dependence, nudging extra consumers towards electrical. The working value benefit stays a compelling pull – working prices considerably decrease than comparable ICE choices, a hole that solely widens as fuel value uncertainty persists. Legacy producers with established distribution and repair networks proceed to realize floor, giving consumers confidence that after-sales assist is not a concern,” she mentioned.

The underlying demand drivers – enhancing value economics, fleet adoption, and wider OEM participation – proceed to be drivers, she added.

TVS Motor Firm retained its management place in the section, registering 41,489 items throughout Might and holding on to a 25 per cent market share. The corporate recorded a 61 per cent enhance over the 25,804 items offered in Might 2025.

Bajaj Auto consolidated its second place with registrations rising 68 per cent to 38,005 items from 22,642 items a 12 months in the past. Its market share edged as much as 23 per cent from 22 per cent, reflecting rising acceptance of its electrical scooter vary.

Among the many new-age gamers, Ather Power had a standout month, almost doubling its registrations to 27,523 items from 14,016 items in Might 2025, a 96 per cent YoY development. The Bengaluru-based EV maker expanded its market share to 17 per cent from 13 per cent, rising as one of many largest gainers.

Hero MotoCorp additionally delivered a robust efficiency, with registrations greater than doubling to 18,253 items from 7,381 items a 12 months earlier. Its market share climbed to 11 per cent from 7 per cent, highlighting the corporate’s rising presence in the electrical mobility area.

Nonetheless, Ola Electrical continued to face stress amid intensifying competitors and its personal execution challenges. Registrations fell to 14,752 items in Might 2026 from 18,967 items in the corresponding month final 12 months. Its market share almost halved to 9 per cent from 18 per cent.

Revealed on Might 31, 2026