TVS, Bajaj, Hero capture 60% of electric two-wheeler market as startups lose ground

Established Indian two-wheeler companies are now leading the electric vehicle market. By January 2026, TVS Motor, Bajaj Auto, and Hero MotoCorp will hold 60% of the market. This marks a significant shift from startup dominance. Legacy players are attracting mainstream customers with their strong networks and reliable products. The market is moving towards consolidation.