TVS Motor Company, a prominent player in India’s two-wheeler industry, has achieved a significant milestone in the electric two-wheeler (e-2W) segment. The company, which entered the e-2W market in January 2020 with the launch of its iQube electric scooter, has for the first time registered retail sales (customer deliveries) exceeding 300,000 units in a single fiscal year.
This landmark was reported in mid-March 2026, with TVS Motor having delivered 309,984 units of its TVS iQube and Orbiter electric scooters up to that point in FY2026 (April 2025–March 2026). With two weeks remaining in the fiscal year, projections indicate the company is on track to close FY2026 with a record around 327,000 units in retail sales
.This accomplishment positions TVS Motor as the electric two-wheeler market leader for FY2026. It marks only the second instance of an Indian e-2W manufacturer achieving over 300,000 retail units in a fiscal year—the first being Ola Electric in FY2025. TVS’s strong performance underscores the growing maturity of the Indian EV market and the company’s successful transition into the electric space.
Key Drivers Behind the MilestoneTVS Motor’s e-2W success stems from several factors:
- Strong Product Portfolio — The flagship TVS iQube has been a consistent bestseller, with cumulative sales surpassing 800,000 units in India by late 2025. The recent introduction of the Orbiter model has further boosted volumes.
- Consistent High Monthly Sales — The company crossed the 30,000-unit monthly retail threshold multiple times in FY2026, including peaks such as 34,774 units in January 2026 and around 31,600 units in February 2026.
- Market Share Leadership — TVS frequently commanded 28-29% of the monthly e-2W market, outpacing competitors like Bajaj Auto, Ather Energy, and others in several periods.
- Broader EV Momentum — Overall EV sales for TVS showed robust growth, with quarterly highs (e.g., over 100,000 units in certain periods) contributing to the annual surge.
The Indian electric two-wheeler segment has seen rapid expansion, with cumulative sales in the first 10 months of FY2026 already surpassing 1 million units. Projections suggest the full year could reach 1.35 million units, reflecting increasing consumer adoption driven by better infrastructure, government incentives, and competitive offerings.
TVS Motor’s achievement highlights the shift toward legacy two-wheeler manufacturers dominating the EV transition, leveraging their established networks, reliability, and brand trust over newer entrants.
This milestone not only celebrates TVS Motor’s strategic focus on electrification but also signals a maturing market where sustainable mobility is gaining mainstream traction in India. As the fiscal year concludes, TVS is poised to set a new benchmark for e-2W retail volumes in the country.
