The 2025 E2W Rumble, Cars24 Acquires CarInfo & More

India’s electric two-wheeler (E2W) market hit a speed bump in 2025. Registrations slowed down sharply to 12.8 Lakh units, competition peaked and supply chain bottlenecks limited production. So, what key trends dominated the E2W ecosystem in 2025?

Early-Adopters Plateau: The first wave of the experimental buyer cohort hit saturation in 2025. Industry insiders see the next wave of demand coming from everyday commuters. However, adoption among these new buyers is likely to be slower, as expectations around reliability, range, servicing and resale value are significantly higher.

Subsidy Cuts Lift Prices: The policy environment also shifted sharply last year. Under the new PM E-DRIVE scheme, incentives dropped to INR 5,000 per kWh for FY25 (versus INR 15,000 under the erstwhile FAME-II). Incentives are expected to fall further to INR 2,500 per kWh in FY26. Additionally, the Centre has set a sunset date of March 31 for subsidies on two- and three-wheeler EVs. These cuts sent prices soaring, pushing OEMs to absorb higher costs or fast-track localisation to defend margins.

Bajaj, TVS Take Command: Last year also saw legacy OEMs seize control of the market. Bajaj Auto and TVS Motor, which held single-digit market share in 2022, together captured 52.1% in 2025. Bajaj’s registrations jumped 81% YoY to 3.48 Lakh units, while TVS rose 46% YoY to 3.19 Lakh units on the back of their established dealer and service networks.

Ola Electric Slides: The EV giant’s market share collapsed from 35.5% in 2024 to just over 15% in 2025. Registrations plummeted 51% YoY amid customer complaints about vehicles and after-sales service. Meanwhile, rival Ather Energy overtook Ola Electric, with the former’s registrations zooming to 2 Lakh units.

As we step into the new year, will legacy giants sustain their dominance, or will startups make a comeback? Let’s find out…

India’s coffee culture is transforming. Urban consumers are increasingly moving towards grab-and-go models, forcing premium coffee brands to rethink how they deliver value. First Coffee operates at the centre of this shift.

Selling Coffee, Fast: Founded in 2023, the startup operates a coffee chain that focusses on fast service and standard quality, avoiding the cost-heavy trappings of premium ambience. Its target customer is the daily coffee drinker, who wants speciality-grade caffeine without paying for real estate, décor or downtime.

Bridging The Gap: First Coffee bridges the gap between boutique coffee estates and mass-market QSRs by tightly controlling how coffee is sourced, prepared and served. It also operates tech-enabled stores equipped with Eversys machines to standardise taste and output. This operational discipline enables consistent, high-quality beverages across locations, a feat that smaller artisanal cafés often struggle to ensure as they expand.

Scaling The QSR Model: In 2025, First Coffee added 15 new outlets across Delhi NCR, Chandigarh and Punjab, while recording 9% month-on-month revenue growth and 10% MoM user growth. Last year, the coffee chain closed a pre-Series A round to fund expansion and deepen customer engagement. But, can First Coffee redefine India’s premium coffee segment with its grab-and-go model?

Bengaluru tops the agritech funding charts with $1 Bn raised so far. Delhi follows closely with $891 Mn, while Chennai ranks third at $423 Mn. Here’s how the numbers stack up.