TVS, Bajaj, Ather, Hero race to double EV two-wheeler capacity past 150K/month as petrol fears mount
Top four electric two-wheeler makers are accelerating capex toward a combined 2M annual scooter run-rate by FY27. TVS targets 370K iQube units in FY26, Bajaj Chetak hit 100K in Q4, Ather plans 1M capacity, and Hero Vida is scaling from 15K to 25K/month. EV share rose to 9.8% in March with 148K April sales, up 61% YoY.
TVS, Bajaj, Ather and Hero are doubling electric two-wheeler capacity to 150,000+ units monthly, targeting 2M annual scooters by FY27 as petrol-price worries from Iran war boost EV demand, despite supply chain and labour constraints.