Asia Pacific Electric Two-Wheeler Market

The Asia Pacific electric two-wheeler market is expected to reach USD 9.31 billion by 2032, from USD 4.54 billion in 2025, with a CAGR of 10.8%. Evolving climate goals and clean mobility policies are prompting many Asia Pacific countries to accelerate the adoption of electric two-wheelers. In ASEAN nations such as Thailand and Indonesia, governments are offering a mix of tax exemptions, purchase incentives, and support for local EV component manufacturing, helping to lower costs and build domestic EV ecosystems. In Vietnam, increased e-motorbike sales and planned restrictions on conventional motorcycles in dense urban areas are pushing many riders toward electric alternatives. In India, national-level incentives under the PM E Drive Scheme, combined with state-specific incentives (e.g., subsidy per battery-kWh and road-tax/registration-fee exemptions in Maharashtra), have sharply lowered the total cost of owning an electric scooter or motorcycle, encouraging companies and consumers to scale up EV usage. Many Asian manufacturers are also investing in EV infrastructure, supply chains, and local production, making EVs more competitive against ICE two-wheelers.

Key players in the Asia Pacific electric two-wheeler market with a significant presence include Ola Electric (India), Bajaj Auto Ltd. (India), TVS Motor Company (India), Ather Energy (India), and Yadea Technology Group Co., Ltd. (China). These companies have adopted both organic and inorganic growth strategies, such as product launches, partnerships, joint ventures, mergers and acquisitions, and expansion of production facilities, to strengthen their international foothold and capture a larger market share. Through these strategies, they have expanded globally by offering a diverse portfolio of Asia electric two-wheelers tailored to local market needs, featuring advanced battery technologies, connected mobility solutions, and competitive pricing to attract a broader customer base.

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In September 2025, Ather Energy unveiled the EL platform, a next-generation electric scooter architecture designed using 2.6 million km of real-world data, featuring a redesigned chassis, powertrain, and electronics that enable 15% faster assembly, up to twice as fast servicing, and extended maintenance intervals of 10,000 km. Concurrently, the company introduced the new 3.7 kWh variant of its family-oriented Ather Rizta scooter, now offering an extended range of 159 km, expanding its reach to daily commuters seeking range, value, and practicality.

In June 2025, Ola Electric rolled out its MoveOS 5 software update for the S1 scooter series and Roadster X motorcycles, upgrading the in-house motor control unit (MCU), adding advanced battery management, smarter regenerative braking, improved energy efficiency, and new rider-friendly modes like DIY Mode, Road-Trip Mode, and Easy Park for added flexibility and convenience. Earlier in 2025, the company launched its first electric motorcycle series, the Roadster X, featuring multiple battery variants, a modular battery system architecture, a mid-motor with an integrated MCU, and an industry-first flat-cable wiring system to reduce weight and improve durability.

Ola Electric is rapidly expanding its retail and service network. The company is focusing on vertical integration and cost optimization to enhance profitability, aiming for gross margins of around 35–40%, and has introduced rare-earth-free motors to reduce dependency on imports. It is also diversifying its portfolio by launching new scooters (S1 Gen 3) and entering the electric motorcycle segment with the Roadster X series to reach a broader customer base.

Bajaj Auto Ltd is leveraging its strong manufacturing base and export capabilities to grow its electric two-wheeler business. EVs now account for nearly 20% of its domestic sales, and the company continues to strengthen its portfolio with new models such as the Chetak 35 Series. It is also collaborating with partners, such as Yulu, to develop electric platforms for urban mobility and last-mile delivery applications.

TVS Motor Company is following a broad-based EV strategy by developing new electric two- and three-wheelers and timing their launches based on market demand. The company is expanding internationally through acquisitions, such as ION Mobility in Southeast Asia, and partnering with major companies, including Amazon India, to enhance EV adoption and charging infrastructure. It continues to invest in R&D, diversify its product range across premium and affordable segments, and strengthen its domestic and export presence to capture the growing electric mobility market.

Ather Energy is developing a modular EV platform to reduce costs and enable multiple vehicle types to utilize shared components, making its lineup more flexible and affordable. The company is also emphasizing connected mobility through data-driven features, including its partnership with Qlik for analytics, to improve customer experience. Moreover, it is expanding its retail and service network across India, with a focus on northern, eastern, and western regions, to support wider adoption of its products.

Yadea Technology Group Co., Ltd. is pursuing global expansion, exporting to over 100 countries across the world, and positioning itself as a leading international brand in electric two-wheelers. The company is localizing production in markets such as Brazil to reduce costs, improve supply efficiency, and meet local demand. It is also investing in advanced battery technologies, including sodium-ion batteries, and launching high-performance models such as the Kemper smart electric motorcycle to move into premium market segments.

Market Ranking

The Asia Pacific electric two-wheeler market is highly competitive, with five major players: Ola Electric, Bajaj Auto Ltd., TVS Motor Company, Ather Energy, and Yadea Technology Group Co., Ltd. Ola is focusing on expanding its nationwide retail and service network, achieving cost efficiency through vertical integration, and diversifying its portfolio with new scooters and electric motorcycles. Bajaj Auto is leveraging its manufacturing strength and export base while expanding its electric portfolio and forming partnerships for urban mobility and last-mile delivery solutions. TVS is pursuing a comprehensive EV strategy by developing new models, expanding globally through acquisitions and partnerships, and investing in R&D to serve both premium and budget segments. Ather is focusing on cost-efficient modular platforms, connected mobility solutions, and expanding its retail footprint to strengthen its presence across India. Yadea Technology is executing a global expansion strategy by localizing production, adopting advanced battery technologies, and entering premium segments with high-performance electric models.

Related Reports:

Asia Pacific Electric Two-Wheeler Market By Vehicle Type (E-Scooter/Moped, E-Motorcycle), Voltage Type, Motor (Hub, Mid-drive), Battery (Li-ion, Lead-acid), Motor Power, Technology (Battery, Plug-in), Vehicle Class, Usage, and Country - Forecast to 2032

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