Bajaj sold 29,597 EV two-wheelers in October, followed by TVS Motor and Ather Energy, while festive offers and new launches boosted overall market demand.
As many as 96,031 electric two-wheelers were sold in September, with TVS leading with a 21.9 percent market share.
Bengaluru-based startup aims to scale production with diversified portfolio to challenge established players
Ather Energy went public in July 2025, shortly after rival Ola Electric’s listing in August 2024, which was India’s first major EV startup IPO.
While several EV players, including Ola Electric and Reliance New Energy, have announced ambitious plans for giga-scale cell factories, Ather is keeping its focus on design, engineering, technology, and brand.
India’s electric vehicle industry has been grappling with supply risks due to the concentrated global supply of heavy rare earths, which are critical for high-performance magnets used in EV motors
'The best companies in the world are always built in public markets... the rigour comes in from public market scrutiny,' Aggarwal tells Moneycontrol
The Rizta electric scooter now accounts for over 60% of Ather's total sales.
Hero Motocorp is a key investor in Ather with 37.2% stake and currently has special privileges including information rights
Ather brings innovation to the market, but profits may take time to materialise
Rare earth magnets are critical for the motors used in electric vehicles, and China is the dominant global supplier.
The potential smaller size is because the electric-vehicle maker’s existing investors are considering offering fewer shares in the sale
Ather Energy CEO Tarun Mehta said he is confident of his “product, tech and quality-focused brand”.
The company aims to sell shares by the end of March or early April, the people said, asking not to be identified because the deliberations are private
The facility allows for accelerated innovation and product development through a multi-layered approach to testing.
Ather Energy Limited, an EV two-wheeler manufacturer, introduced the 2025 Ather 450 with a host of new updates. The 450X and 450 Apex scooters now get Multi-Mode Traction Control with three different modes for increased safety and MagicTwist
Industry experts predict that 2025 will witness EV penetration across public transport, B2B fleets, and more.
Ola Electric continues to lead the market with nearly 24.5% market share in November
The company currently has 231 Experience Centres and 2,500 fast charging stations across the country.
Sources told Moneycontrol that the sales decline is linked to increasing consumer complaints about Ola Electric's service facilities.
On September 11, the Union Cabinet approved PM E-Drive scheme with an outlay of Rs 10,900 crore.
In 2023, the total cost of materials consumed through Chinese imports was around 10 percent or Rs 157.9 crore
The firm plans to manufacture new scooters and motorcycle platforms at its 'Factory 3.0' in Maharashtra, Ather has said in its IPO documents
Under the OFS, the firm’s founders Tarun Sanjay Mehta and Swapnil Babanlal Jain are said to offload around 1 million equity shares in the company.
Hero MotoCorp-backed Ather Energy ranked fourth in the pecking order, with sales going up to 10,080 units in July from 6,192 units in June, achieving a 63 percent month-on-month growth and a nine percent market share.