India’s two-wheeler export sector continues to thrive, with overall shipments growing 24% year-on-year (YoY) to reach 3.33 million units during the April–November 2025 period. Amid this robust performance, the emerging electric two-wheeler (e-2W) segment is steadily gaining momentum in international markets. Export data for the first eight months of FY2026 (April–November 2025) shows a total of 5,536 e-2Ws shipped overseas, marking a modest 3% YoY increase compared to the 5,397 units in the same period of the previous year.
This figure already represents 81% of the full FY2025 export total of 6,845 units, leaving room for further growth in the remaining four months of FY2026. The electric sub-segment, though still nascent, is contributing meaningfully to India’s reputation as a manufacturing hub for affordable and reliable zero-emission mobility solutions.
TVS iQube Dominates Export Volumes
TVS Motor Co remains the clear leader in e-2W exports, shipping a total of 2,810 electric scooters during the period. This positions the company as the top exporter in the segment, with its flagship TVS iQube accounting for the overwhelming majority—2,784 units (or 99% of TVS’s e-2W exports). The iQube’s shipments surged 225% YoY, highlighting strong overseas demand for this practical, feature-rich electric scooter.
However, TVS’s overall e-2W exports declined 42% YoY from the previous year’s levels, primarily due to a sharp drop in shipments of the BMW CE 02 (only 26 units this period compared to 3,963 in the year-ago period). TVS manufactures the BMW CE 02 under a partnership at its Hosur facility, and the reduced volumes reflect changing export dynamics for the premium model. In contrast, the iQube has stepped up to fill the gap, solidifying its role as TVS’s primary export driver in the electric space.
Ather Energy’s Explosive Growth
Close behind is Ather Energy, which exported 2,344 units across its portfolio—including the 450X, 450S, and Rizta—registering an impressive 307–331% YoY growth (depending on the specific model comparison). The Ather 450X stands out as the star performer, with 2,065 units shipped (accounting for 88% of Ather’s total exports). This surge underscores growing international appetite for Ather’s premium, tech-loaded electric scooters, known for their performance, smart features, and urban appeal.
Together, TVS Motor Co and Ather Energy command 93% of India’s e-2W exports in this period, demonstrating the dominance of these two players in the fledgling overseas market.
Key Highlights from the Data
- TVS iQube: 2,784 units exported (up 225% YoY) — the most exported electric scooter model.
- Ather 450X: 2,065 units exported (up 331% YoY) — second most exported model.
- Total e-2W exports: 5,536 units (up 3% YoY), with TVS and Ather leading the charge.
- Comparison to prior year: TVS’s decline tied to BMW CE 02; Ather’s massive gains driven by the 450X.
Outlook for India’s e-2W Exports
While the overall two-wheeler export boom is fueled by internal combustion engine models, the electric segment’s steady progress signals promising potential. The iQube’s reliability and cost-effectiveness, combined with the 450X’s advanced features, are resonating in international markets—likely in regions across Asia, Africa, and beyond. As more Indian manufacturers expand their EV portfolios and global demand for sustainable transport rises, this sub-segment could see accelerated growth in the coming years.
India’s electric two-wheeler exports may still be small in volume compared to the domestic market, but the trends from April–November 2025 show clear momentum—with TVS iQube and Ather 450X at the forefront of this green mobility push.
