India registered about 2.23 lakh electric two-wheelers in October 2026, the highest monthly figure on record, with TVS Motor holding the top spot. The numbers come from the government's Vahan registration database, as reported by Entrackr, EVelectree and Auto India Daily on November 1.
The headline numbers
Entrackr counts 2,23,847 registrations and EVelectree counts 2,23,886, a small gap that reflects the time each outlet took its snapshot. EVelectree puts the rise at about 7 percent from September's roughly 2.09 lakh and about 48 percent from October 2025. An earlier snapshot published by Inc42 showed only about 2.15 lakh because it was taken before the day's data was complete, so we have ignored it. The year-ago base also varies a little between outlets, so the year-on-year figure is best read as roughly 48 percent.
Autocar India reports that India registered about 17.7 lakh electric two-wheelers from January to October 29, against 11.1 lakh in the same period of 2025. Auto India Daily puts January to October at about 1.79 million, more than the 1.34 million registered in all of 2025.
Who sold what
| Brand | October 2026 units | Change on a year ago |
|---|---|---|
| TVS | About 60,430 | Up 94 percent |
| Bajaj Chetak | About 49,070 | Up 51 percent |
| Ather | About 31,800 | Up 5 percent |
| Hero Vida | About 29,900 to 29,940 | Up 81 percent |
| Ola Electric | 12,096 | Down 26 percent |
| Greaves (Ampere) | 10,838 | Up 40 percent |
| River | 6,796 | Up 273 percent |
TVS held about 27 percent of the market, Bajaj about 22 percent, Ather about 14 percent and Hero Vida about 13 percent, according to Entrackr and EVelectree. Auto India Daily says TVS became the first Indian electric two-wheeler brand to cross 60,000 units in a month. Year-on-year changes use the base figures from Auto India Daily, and other outlets use slightly different bases for October 2025, so treat them as approximate.
Registrations versus dispatches
TVS's own figures are higher than the Vahan count because they measure a different thing. In its October filing, TVS Motor reported dispatching 71,382 electric two-wheelers, up 120 percent from 32,387 a year earlier, according to AutoPunditz and EquityBulls. Dispatches are shipments to dealers and exports, while Vahan counts vehicles registered to buyers, so the 71,382 and 60,430 figures should not be added or compared directly.
Supply is the limit
The strongest theme in company commentary is that demand is running ahead of production. Inc42 reports Ather estimates it missed about 20,000 retail sales a month because of supply limits, with pre-orders of about 1.8 lakh in the September quarter against monthly production of around 33,000. Bajaj's chief financial officer said manufacturing limits allow it to deliver only about 75 percent of planned electric volumes, per the same report, and Chetak capacity is to rise to about 80,000 a month.
TVS targets 80,000 electric two-wheelers a month by March 2027, against capacity of roughly 60,000 to 65,000 now, according to Inc42 and Auto India Daily. Hero said on its October 29 earnings call that it doubled Vida's capacity from 15,000 to 30,000 a month, EVelectree reports.
Ola's slide
Ola Electric is the outlier. Its registrations fell about 10 percent from September and about 26 percent from a year ago, according to EVelectree. Autocar Pro reports Ola's first-half figure for the 2026-27 financial year at 85,634, down 23 percent. Inc42 reports that Ola closed a Rs 1,000 crore rights issue, but we found no management comment on the October numbers.
The Diwali effect
EVelectree notes that Diwali falls on November 8 this year, against October 20 last year, which shifts some festive buying and affects the year-on-year comparison. Strong November numbers are therefore possible, and a drop in October's year-on-year growth would not by itself signal a slowdown.
What to watch next
The first thing to watch is whether November registrations extend the record, helped by the later Diwali. Next is supply, since TVS, Bajaj, Ather and Hero have all promised higher capacity in the coming months. Ola's response to its decline, and whether new entrants such as River keep growing from a small base, will show how the market's order is changing. The official Vahan dashboard and industry body figures later this month will settle the final count.
Published November 3, 2026. Gadgets365 will update this article as more information becomes available.
