Top 5 Electric Two-Wheeler Manufacturers In India For February 2026, Ola Drops Out

India’s electric two-wheeler industry continues to evolve rapidly, with February 2026 sales data showing a significant shift in market leadership. Ola Electric, once a dominant player, has dropped out of the top five manufacturers, highlighting challenges in sustaining momentum amid intensifying competition and operational hurdles.  

Hero MotoCorp, TVS Motor, Bajaj Auto, Ather Energy, and Greaves Electric Mobility emerged as the leading manufacturers for the month, collectively driving the majority of EV sales. Their success is attributed to diversified product portfolios, strong dealership networks, and consistent focus on affordability and performance.  

Key Highlights  

• Hero MotoCorp leads the EV two-wheeler market in February 2026  
• TVS Motor and Bajaj Auto consolidate positions with steady sales growth  
• Ather Energy continues to attract premium buyers with performance-focused scooters  
• Greaves Electric Mobility strengthens presence in the affordable EV segment  
• Ola Electric slips out of the top five, facing operational and demand challenges  

Industry Significance  
Analysts note that the reshuffle underscores the competitive nature of India’s EV market. With government incentives, rising fuel costs, and growing consumer awareness, established players are consolidating their positions while newer entrants face challenges in scaling operations. The exclusion of Ola Electric from the top five highlights the importance of sustained execution and customer trust in the fast-growing EV sector.  

Sources: Economic Times, Business Standard, Mint, Autocar India