Greaves Electric Mobility Surges Past Ola Electric in EV Two-Wheeler Sales Race

Greaves Electric Mobility (GEM), a subsidiary of Greaves Cotton, has achieved a significant milestone by overtaking Ola Electric in electric two-wheeler (E2W) sales during the first week of November. Vahan portal data shows GEM sold 1,580 units, surpassing Ola Electric's 1,335 units. This marks the first time Ola Electric has fallen out of the top five E2W manufacturers. GEM's recent success is attributed to its strong October sales, its highest ever, and the consistent growth of its Ampere brand, which saw a 60% year-on-year increase in the first ten months of 2025. The company's flagship Nexus scooter, priced around ₹1,19,900, and its strategic retail financing partnerships have been key drivers.

Impact This development highlights the dynamic and fiercely competitive nature of India's electric two-wheeler market. GEM's aggressive strategy and product offerings are proving effective against established players. Conversely, Ola Electric is grappling with declining market share, customer complaints regarding after-sales service, and has consequently lowered its revenue and sales volume targets for FY26. The shift indicates potential re-evaluation of market leadership and investment prospects within the EV sector. Rating: 7/10.

Definitions EV: Electric Vehicle. A vehicle powered by electricity stored in batteries or other storage devices. E2W: Electric Two-Wheeler. A motorcycle or scooter powered by electricity. Vahan portal: A government-run IT platform for vehicle registration and related services in India, providing registration data. OEM: Original Equipment Manufacturer. A company that manufactures products that are then used in another company's end product. YoY: Year-on-Year. A comparison of a company's performance metrics from one year to the next. Ex-showroom: The price of a vehicle excluding taxes, insurance, and registration charges. FY26: Fiscal Year 2026 (April 2025 to March 2026).