E2W Registrations: China's Curbs Hit Bajaj In Aug, Ola Electric Reclaims Second Spot

With the shortage of rare earth magnet taking a toll on Bajaj Auto, the electric two-wheeler (E2W) leaderboard saw a major reshuffle in August in terms of registrations. While Bajaj dropped out of the top three position, Ola Electric made a comeback to reclaim the second spot.

As per VAHAN data on September 1, the Bhavish Aggarwal-led company’s registrations rose 6.1% month-on-month (MoM) to 18,972 units in August.

TVS Motor continued to hold on to the top spot, with its registrations jumping 7.5% MoM to 24,087 units in August.

Meanwhile, total E2W registrations remained nearly flat at 1.04 Lakh units in August as against 1.03 Lakh units in July.

Ather Energy saw an impressive 9% increase in its registrations to 17,856 units in August from 16,394 units in July. This pushed it to the third position in terms of the number of registrations.

Bajaj Auto Slips To Fifth Spot

Bajaj Auto slipped to the fifth position from the second spot in July, as its registrations slumped 40% to a mere 11,730 units from 19,771 units in July due to China’s restrictions on rare earth magnet exports.

This was still better than Bajaj Auto MD Rajiv Bajaj’s forecast. Earlier, he said that the company was considering the possibility of zero sales in August due to the rare earth magnet supply issue, which significantly impacted its operations.

However, the MD told CNBC TV18 last week that the situation had improved and the company had resumed production of EVs. “… The situation has changed very much for the better. We are now looking at 15,000-plus Chetaks and around 7,000 GoGos (electric rickshaw) in August,” Bajaj said.

Bajaj Auto’s loss turned out to be Hero MotoCorp’s gain as the company jumped to the fourth position with a 26% MoM rise in its registrations to 13,313 units in August.

Most of the smaller players witnessed a healthy rise in their registrations last month, albeit on a smaller base. Bengaluru-based Greaves Electric Mobility saw a 7.1% MoM increase in E2W registrations to 4,498 units in August.

Kinetic Green Energy & Power Solutions also saw a 23% increase in registrations to 1,513 units from 1,226 units in July. The registrations of Pure EV, which is gearing up for a public listing this year, grew over 5% to 1,779 units.

EV Makers Gear Up For Festive Season

Ahead of the start of the festive season, which sees high demand for vehicles, E2W companies are sprucing up their portfolios with new launches and discounts on existing models. Amid the intense competition, TVS launched a new escooter, TVS Orbiter, last week to expand its portfolio.

On the other hand, Ola Electric CEO Aggarwal announced the integration of the company’s in-house 4680 battery cell into two of its key models – S1 Pro Plus electric scooter and Roadster X Plus motorcycle during the EV maker’s annual event on August 15. He also announced a price cut for the two models.

The company also unveiled its new S1 Pro Sport model, priced at INR 1.5 Lakh. However, its deliveries are expected to begin only in January 2026.

Meanwhile, Ather Energy launched its all-new EL platform last week. It also introduced AtherStackTM 7.0 featuring voice interaction with escooters, a next-generation fast charger for quicker EV charging, and upgrades to its existing products.

Driving these moves is the country’s burgeoning EV market, which is poised to become a $132 Bn opportunity by 2030. Besides, the Centre as well as state governments are taking a number of steps to promote adoption of EVs.

While this has helped increase the penetration of EVs in the country, last month wasn’t the best in terms of registrations. Total EV registrations, across categories, declined 2.17% to 1.95 Lakh units in August from 1.99 Lakh units in July.

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