Ather Energy, an electric two-wheeler maker in Bengaluru, announced its foray into the 125–300cc-equivalent electric motorcycles. The company, with the vision to move towards a sustainable ecosystem, hopes to capture a high-performance market usually ruled by the internal combustion engine motorcycles. The firm has already secured permission from the Automotive Research Association of India (ARAI) to equip its two-wheelers with lithium iron phosphate (LFP) batteries, lowering costs and improving affordability.
Alongside this product expansion, Ather Energy went public on the stock market on May 6, 2025, becoming the second Indian electric two-wheeler start-up to list its shares after Ola Electric’s ₹6,145 crore IPO in August 2024. Ather’s ₹2,981 crore IPO was well subscribed, with institutional investors showing healthy interest. But the shares of the company closed almost 8% below the listing price on its trading debut, showing investor prudence against the backdrop of profitability issues in the electric vehicle space.
Ola Electric, Ather’s closest rival, has also had its own share of issues, ranging from delivery delays to a massive decline in share value since listing. Still, Ather’s CEO, Tarun Mehta, was publicly praised by Ola’s co-founder and CEO, Bhavish Aggarwal, when Ather listed on the bourses, symbolizing the competitive yet fraternal environment in India’s emerging electric vehicle ecosystem.
Ather’s simultaneous thrust in increasing its product offerings and maneuvering the public markets reflects the growing competition in India’s electric two-wheeler space. While both companies compete for market space and investor sentiment, their strategy and operations will determine the future course of electric mobility in the nation.
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