Current Market Share of EV Motorcycles in India

The electric two-wheeler (E2W) market in India has shown remarkable growth and penetration across different segments. As of 2025, the market dynamics reveal:

Overall Market Penetration

Electric Two-Wheeler Market Share: The penetration of electric vehicles in the two-wheeler category reached 8.7% in March 2025, up from 5.7% in February 2025. For the full year 2024, electric two-wheelers accounted for 6.1% of total two-wheeler sales.

Market Leadership: Electric two-wheelers led the charge in India’s EV ecosystem, dominating with nearly 60% of total electric vehicle sales in the country, translating to 1.2 million units in 2024. High-speed electric two-wheelers (HS E2Ws) specifically accounted for 55.85% of total EV registrations in May 2025.

Monthly Performance Metrics

In May 2025, India recorded 1,79,522 electric vehicle registrations, with high-speed electric two-wheelers contributing 1,00,266 units (a 9% month-on-month increase). The overall EV penetration in the 2W market was 6.4% in January 2025.

Top 10 EV Bikes in India (2025)

Based on comprehensive market analysis and current offerings, here are the top 10 electric motorcycles available in India:

1. Ultraviolette F77 Mach 2

• Price: ₹2.99 – ₹3.99 Lakh
• Range: Up to 323 km (IDC)
• Top Speed: 155 km/h
• Key Features: Aerospace-engineered design, 30 kW motor, 3-level traction control

2. Ola Roadster Series

• Price: ₹1.05 Lakh
• Range: 151-248 km
• Top Speed: 126 km/h
• Key Features: All-round performance, affordable pricing

3. Revolt RV400

• Price: ₹1.24 Lakh
• Range: 150 km
• Top Speed: 85 km/h
• Key Features: Swappable battery, urban commuter focus

4. Matter Aera

• Price: ₹1.83 – ₹1.94 Lakh
• Range: 172 km (IDC)
• Top Speed: 105 km/h
• Key Features: India’s first geared electric motorcycle, 4-speed HyperShift gearbox

5. Oben Rorr

• Price: ₹1.19 Lakh
• Range: 187 km
• Top Speed: 100 km/h
• Key Features: Strong performance metrics, competitive pricing

6. Komaki Ranger

• Price: ₹1.40 Lakh
• Range: 200-250 km
• Top Speed: 80 km/h
• Key Features: Extended range capability

7. Revolt RV1

• Price: ₹94,990
• Range: 100-160 km
• Top Speed: 70 km/h
• Key Features: Entry-level pricing, decent range

8. BMW CE-04

• Price: ₹15.25 Lakh
• Range: Premium segment
• Key Features: Luxury electric motorcycle, premium build quality

9. TVS iQube (Motorcycle variant)

• Price: ₹94,434 – ₹1.59 Lakh
• Key Features: Established brand reliability, multiple variants

10. Ather Energy 450x

• Price: ₹1.49 – ₹1.79 Lakh
• Key Features: Smart connectivity, performance-oriented

Sales Growth of EV Bikes in India

2024 Performance Milestones

India’s electric vehicle market achieved historic milestones in 2024:

• Total EV Sales: Crossed 2 million units for the first time, marking 24% growth from 2023
• Electric Two-Wheeler Sales: Reached 1.2 million units with robust 30% year-on-year growth
• Market Penetration: Increased to approximately 8% from 6.8% in the previous year

Monthly Growth Trends (2025)

Strong Start to 2025: The first five months of 2025 showed continued momentum with over 547,000 EV sales and 8.8% growth despite reduced incentives.

March 2025 Surge: Electric two-wheeler sales surged dramatically from 76,583 units in February to 1,30,375 units in March, marking a 70% month-to-month growth.

May 2025 Performance: High-speed electric two-wheelers rose by 9% month-on-month to 1,00,266 units.

Historical Growth Trajectory

The market has shown exponential growth from 176,996 units in 2021 to a record 1.2 million units in 2024, representing a compound annual growth rate of approximately 85% over three years.

Expected Market Performance and Future Outlook

Short-term Projections (2025-2030)

Market Share Expansion: Industry leaders predict that electric two-wheelers will account for 20% of market sales by 2030, with scooters driving the majority of this growth. Hero MotoCorp’s CEO expects half of all scooters sold in India to be electric in the mid-term.

Penetration Growth: ICRA expects EV penetration in the two-wheeler segment to rise gradually, reaching around 25% by FY2030, supported by improving charging infrastructure and favorable total cost of ownership.

Market Size and Revenue Projections

Overall E-bike Market: The India e-bike market size reached USD 1,302.9 million in 2024 and is expected to reach USD 3,000.5 million by 2033, exhibiting a CAGR of 8.70% during 2025-2033.

Electric Two-Wheeler Market: Valued at USD 1.6 billion in FY2024, the market is forecast to grow at a CAGR of 28.34% during FY2025-FY2032.

Alternative Projections: Another analysis suggests the market will reach USD 1,588.4 million by 2030 with a 17.8% CAGR from 2025 to 2030.

Key Growth Drivers

Government Support: The EMPS 2024 plan has allocated Rs 500 crore for electric two-wheelers and three-wheelers, with subsidies of Rs 5,000 per kWh of battery capacity.

Infrastructure Development: Expanding charging infrastructure is mitigating range anxiety and promoting adoption, particularly in rural communities.

Technology Advancements: Continuous improvements in battery technology, charging speed, and smart features are enhancing the value proposition of electric motorcycles.

Market Challenges and Opportunities

Reduced Subsidies: Despite the reduction in government subsidies over the past 12-18 months, the market has maintained growth momentum, with OEMs keeping prices competitive through battery cost corrections.

Competitive Landscape: Legacy manufacturers like Hero, Honda, TVS, and Bajaj are accelerating their electric vehicle plans to compete with startups like Ola Electric and Ather Energy, which currently hold about 60% of the domestic electric two-wheeler market.

Export Potential: With 442 electric bikes currently available in India and continuous new model launches, the market is well-positioned for both domestic growth and potential export opportunities.

Conclusion

India’s electric motorcycle market is experiencing unprecedented growth, with market penetration reaching 8.7% and strong momentum continuing into 2025. The combination of government support, technological advancement, and increasing consumer acceptance positions the market for sustained growth, with projections indicating a potential market size of USD 1.6-3 billion by 2030-2033. The diverse range of available models, from budget-friendly options under ₹1 lakh to premium motorcycles above ₹3 lakh, ensures broad market coverage and continued adoption across different consumer segments.