Hero MotoCorp Quietly Became the Biggest Gainer in Electric Two-Wheelers in FY26 — Surging 336% While Ola and Ather Struggled
While all eyes were on Ola Electric’s delivery delays and Ather’s premium pricing battles, Hero MotoCorp quietly pulled off the most stunning turnaround in India’s electric two-wheeler market — posting a 336% year-on-year growth in FY26 and leapfrogging established players to become the fastest-growing EV manufacturer in the country.
The world’s largest two-wheeler manufacturer, which was late to the electric party, has transformed its EV business from a minor footnote into a legitimate threat to market leaders. Hero’s electric scooter sales surged from just over 18,000 units in FY25 to approximately 78,500 units in FY26, according to VAHAN registration data and industry estimates.
The Numbers That Shocked the Industry
Hero’s growth trajectory accelerated dramatically in the second half of FY26. The company sold more electric scooters in March 2026 alone — approximately 12,500 units — than it did in the entire first quarter of the fiscal year.
| Manufacturer | FY25 Sales | FY26 Sales | Growth |
|---|---|---|---|
| Hero MotoCorp | ~18,000 | ~78,500 | +336% |
| Ola Electric | ~330,000 | ~410,000 | +24% |
| TVS Motor | ~180,000 | ~215,000 | +19% |
| Bajaj Auto | ~120,000 | ~145,000 | +21% |
| Ather Energy | ~110,000 | ~125,000 | +14% |
While Ola remains the market leader in absolute volume, its growth has slowed dramatically amid well-publicized service and delivery issues. Hero, by contrast, started from a smaller base but accelerated every quarter — a sign of building momentum rather than a one-time spike.
How Hero Did It: The VIDA Playbook
Hero’s electric subsidiary, VIDA, launched in 2022 with the V1 scooter. Initial reviews were lukewarm — the scooter was competent but unexciting, and Hero seemed to be going through the motions rather than committing to EVs.
That changed in mid-2025. Hero quietly executed a three-pronged strategy that caught competitors off guard.
First, pricing. Hero slashed VIDA prices by nearly 25% across the range, bringing the top-end V1 Pro down to ₹1.15 lakh (ex-showroom) — undercutting the Ola S1 Pro by nearly ₹20,000 and the Ather 450X by ₹30,000. The base VIDA V1 now starts at just ₹89,000, making it one of the most affordable premium scooters on the market.
Second, distribution. Hero leveraged its existing dealership network — the largest in India with over 6,000 outlets — to put VIDA scooters in front of customers who would never visit an Ola experience center or an Ather showroom. By the end of FY26, VIDA was available in over 1,500 Hero dealerships across 400 cities, up from just 200 dealerships a year earlier.
Third, product refinement. Hero addressed early complaints about the V1’s performance and range. The 2025 VIDA V1 Pro features a 4.2 kWh battery (up from 3.9 kWh), a claimed range of 165 km (up from 140 km), and a top speed increased to 85 km/h. More importantly, Hero’s service network — again, the largest in the country — meant that owners could actually get their scooters repaired when something broke.
The Ola and Ather Weaknesses
Hero’s rise has been accelerated by the struggles of its competitors.
Ola Electric, despite its market-leading volumes, has been plagued by customer complaints about poor build quality, unreliable service centers, and long wait times for spare parts. The company’s stock price has fallen nearly 60% from its peak as investors worry about sustainability. A scathing report from a consumer rights group in January 2026 found that Ola had the highest complaint-to-sales ratio of any EV manufacturer in India.
Ather Energy, meanwhile, has maintained its reputation for quality but struggled to expand beyond its core urban audience. Ather’s scooters are widely considered the best in class — but they are also among the most expensive, and the company’s limited dealership network (under 200 locations) has capped its growth.
Bajaj and TVS have performed respectably but have not shown the same aggressive expansion as Hero. Bajaj’s Chetak remains popular in Maharashtra and Karnataka but has not achieved national scale. TVS’s iQube continues to sell steadily but lacks the excitement factor of its rivals.
What This Means for Indian EV Buyers
For consumers, Hero’s rise means more choice and lower prices. The VIDA V1’s aggressive pricing has forced Ola and Ather to offer discounts and exchange bonuses to remain competitive. Bajaj recently cut Chetak prices by 10% in response.
Hero’s extensive service network also addresses one of the biggest barriers to EV adoption: range anxiety about service, not just range anxiety about battery life. Knowing that a VIDA scooter can be serviced at thousands of Hero dealerships across the country — many in small towns where Ola and Ather have no presence — gives buyers confidence that they won’t be stranded with a broken scooter and no mechanic who can fix it.
The Road Ahead
Hero has signaled that FY27 will be an even bigger year. The company plans to launch two new electric scooters — one premium model to compete directly with the Ola S1 Pro and Ather 450X, and one budget model priced under ₹75,000 to challenge the Okinawa and Pure EV products that dominate the entry-level segment.
More significantly, Hero is reportedly working on an electric motorcycle. The company’s traditional strength has always been in commuter motorcycles (the Splendor is the world’s best-selling two-wheeler of all time), and an electric Splendor would be a seismic event in the Indian EV market.
“We are just getting started,” a Hero MotoCorp executive told Autocar India in a recent interview. “FY26 was about proving that we could scale. FY27 will be about proving that we can lead.”
The Bottom Line
Hero MotoCorp’s 336% growth in FY26 is not just a statistical anomaly — it is a warning shot to every other EV manufacturer in India. The company was late to the party, stumbled out of the gate, and was dismissed by analysts as an also-ran in the electric future.
Now, Hero has quietly built a credible, scalable, and increasingly popular electric scooter business. With its pricing advantage, distribution dominance, and service network superiority, Hero is positioned to challenge Ola for the market lead within two years.
The quiet giant has stopped being quiet. And the rest of the industry is finally paying attention.
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Writer: Sam Michael