Ola Electric Slips Behind TVS Motors, Bajaj Auto In EV Race: Will Roadster X Help It Win Back Top Spot
Once the undisputed king of the electric two-wheeler market, Ola Electric now finds itself in an unfamiliar third position as TVS Motor and Bajaj Auto surge ahead. The company’s market share has plummeted to 18 percent in May 2025 from over 49 percent just a year ago. This sharp reversal has sparked debate about whether its newly launched Roadster X motorcycle can help Ola Electric reclaim its lost glory in a rapidly changing landscape.
A Sudden Shift in the Race
The numbers paint a clear picture. In May 2025, Ola Electric registered just 18,499 two wheelers which is a steep 60 percent drop compared to 37,388 units in May 2024. TVS Motor now leads with 24,560 units in May 2025 (a 24 percent market share, followed by Bajaj Auto selling 21,770 units (market share of 22 percent). Both companies managed to climb the ranks even though their actual sales volumes have only seen marginal changes. The overall market has contracted, but Ola’s share has shrunk even faster.
Not long ago, Ola Electric commanded nearly half the market. Its current position, trailing behind two legacy brands, highlights how quickly fortunes can change in the electric mobility sector. The company’s dramatic fall is one of the most notable market share losses in recent automotive memory.
How TVS and Bajaj Pulled Ahead
TVS Motor’s rise is largely thanks to its iQube series, which has become popular for its reliability and practical features. The company’s focus on building a robust dealer network and providing strong after-sales support has paid off.
Bajaj Auto, meanwhile, has seen success with its Chetak electric scooter, recording its highest-ever monthly sales in March 2025. Bajaj’s market share for the fiscal year has nearly doubled compared to last year.
Both TVS and Bajaj have shown that experience matters. Their ability to adapt quickly to the electric transition, while maintaining the quality and service networks that customers expect, has helped them win over buyers. Their steady approach contrasts with Ola Electric’s rapid, sometimes turbulent, expansion.
Ola’s Quality and Service Woes
Ola Electric’s troubles go beyond tough competition. The company has faced persistent quality issues, from front suspension failures to discrepancies in promised riding ranges. These problems have dented consumer confidence and led to regulatory scrutiny. Investigations into alleged consumer rights violations and misleading advertisements have further tarnished its reputation.
Operational hiccups have also played a part. Discrepancies in reported sales data and missing trade certificates at retail outlets have added to the confusion. The company’s stock price has suffered, falling well below its IPO level, reflecting broader scepticism about its near-term prospects. Ola’s recent move to raise additional funds through debt instruments suggests it is aware of the need for fresh capital to steady the ship.
Enter the Roadster X
Against this challenging backdrop, Ola Electric is betting big on its first motorcycle, the Roadster X. Priced between Rs 74,999 and Rs 99,999, the Roadster X comes with three battery options and a claimed range of up to 200 kilometres.
The motorcycle features an 11kW motor, top speeds of up to 124 kmph, and modern touches like cruise control and regenerative braking. There’s also a Roadster X Plus variant with a larger battery and an even longer claimed range.
The Roadster X marks a strategic shift for Ola Electric, moving beyond scooters into a segment where competition is less intense. With deliveries starting in late May 2025, the company hopes this new model will open up fresh revenue streams and help restore its momentum.
Can Roadster X Turn the Tide?
While the Roadster X brings new hope, it is not a guaranteed fix. The motorcycle segment, though promising, is still smaller than the scooter market. For Ola Electric, the real challenge is deeper: rebuilding trust. Quality, service, and customer satisfaction must improve if the company wants to win back buyers.
From my perspective, Ola’s recent struggles stem more from internal issues than from external pressures. The company needs to strengthen its after-sales network, address quality concerns head-on, and deliver on its promises. Only then can it hope to make the most of the growing electric two-wheeler market, which continues to expand despite recent bumps.
The electric mobility race is far from over. Ola Electric still has the resources and ambition to compete, but the next chapter will depend on whether it can learn from its setbacks and deliver a consistent, reliable experience to its customers. The Roadster X could be the start of a turnaround, but only if it is backed by real improvements where it matters most.