Ola Electric was the Market leader in the 2-wheeler EV Segment, but recently, we have seen a huge drop in Ola Electric’s Market Share due to Bajaj Auto and TVS Motors’ EV Entry. Bajaj Auto and TVS capture a huge market from Ola Electric.
In India, the 2-wheeler EV Market is gaining huge momentum. Ola Electric, Baja Auto, TVS Motors, and Ather are fiercely competing with each other to attract customers and gain their market share. While Ola Electric is the new edge startup that comes up with a great marketing game and on the other hand, Bajaj Auto and TVS Motors are the legacy automakers with decades of experience in the two-wheeler industry.
Ola Electric was founded in 2017 as a subsidiary of Ola Cabs. Bhavish Aggarwal, who started Ola Cabs, is behind this technological shift. He wants to make high-performance electric scooters with Attractive designs. There was a Huge Demand when they announced the Ola Electric Scooter and started their bookings. They have a 1st moving advantage.
Now Let’s Talk about Bajaj Auto Vs Ola Electric. One who started early and others who joined late and ate the Market Share.
Ola Electric Vs Bajaj Auto Market Strategy:
Ola Electric took a Digital Approach and started their Scooter booking through the Ola Cab App. They didn’t have a traditional dealership. They set up their showrooms. Being one of the 1st, they spend heavily on Marketing. Ola Electric has Even Reduced the S1 Pro price to compete with ICE scooters.
Bajaj Auto drives sales through Dealerships. Bajaj Auto has a huge advantage of existing Bajaj showrooms. Bajaj dealership showrooms are touchpoints of EV Scooter sales as well as after-sales services. Bajaj Chetak is priced higher and targets urban buyers. Bajaj Auto starts slowly but focuses on avoiding quality issues.
Ola Electric Vs Bajaj Auto Market Share
Earlier, Ola Electric ruled the EV Scooter market with a Market Share of around 65% but Ola Electric’s market share declined significantly. In May 2025, Ola Electric’s Market Share Dropped to 20% while Bajaj Auto Rapidly Gained the Market share. Bajaj Auto Market Increased by 22.6%, up from 12.1% in May 2024.
Technology and Infrastructure
When the Ola Electric IPO came, that time huge buzz about the Ola Electric Giga Factory. Ola Electric focuses on in-house battery cell manufacturing and vertical integration. Ola Focus on Marketing and Aggressive Price Point.
While Bajaj Auto used its existing infrastructure. Bajaj Auto invested almost 420 Crores into EV R&D and new product launches.
For the EV Vehicles, the Charging Infrastructure was the biggest challenge. The number of Public charging stations was very less. Ola Electric came up with a Hypercharger network, which provides fast charging solutions. Bajaj’s Charging strategy depends on the dealership networks.
Ola Electric Vs Bajaj Auto Market Share Over Time
Ola Electric was Launched in December 2021. During FY2022, Ola Electric captured 6% Market Share of EV Scooters. Bajaj Auto’s Market Share at that time was almost 0, and their EV Scooter sale may be in single digits.
In FY2023, Ola Electric Dominance rose, and the company reported a 21% market Share and became the market leader in the 2-wheeler EV Scooter Segment. Bajaj Auto’s Market Share was small at that time.
In FY2024, Ola Electric reached its peak with almost 35% market share, but during that period, Bajaj Auto started showing significant growth with 11.3% market share. That was the rise of Bajaj Auto in the 2-wheeler EV Segment.
In FY2025, The 2 Wheeler EV Scooter Game Changed. Ola Electric‘s market share declined to 29.9%. Not only this, but in specific months like May 2025, its market share dropped to 20%, and in March 2025, it was at 18% While market share almost doubled from 11.3% in FY24 to 20.1% in FY25. Even in the months like May 2025, Bajaj Auto Market Share was 22.6% and in May 2025, Bajaj Auto became the Market Leader with 29% market share.