What we do Ather Energy Limited is a pioneering Indian electric two-wheeler manufacturer designing products and building an EV ecosystem with connected technology and fast-charging networks. |
Founded in 2,013 |
Market share Leading EV two-wheeler maker, holding ~18.8% market share in India as of FY26 Q3, rapidly growing nationwide. |
Problem solved Reducing urban pollution and dependency on fossil fuels by offering efficient, tech-driven electric two-wheelers and charging infrastructure. |
Top clients or who we serve Primary customers are electric two-wheeler buyers in India, serving retail consumers across urban and semi-urban markets (B2C). |
Key management Founders Tarun S Mehta and Swapnil B Jain lead the company; detailed academic credentials not specified. |
Our journey and innovations Founded in 2013, launched first connected electric scooter in 2018, pioneered fast charging (Ather Grid), and expanded product range to include Ather Rizta. |
Where we operate Operations primarily in India with some presence in other countries; manufacturing in Tamil Nadu and upcoming factory in Maharashtra. |
Top products or what we offer Flagship products include Ather 450 and Ather Rizta electric scooters featuring connected features, traction control, and smartphone integration. |
Top brands Ather 450 – pioneer connected scooter; Ather Rizta – large storage, Alexa voice commands, traction control, WhatsApp dashboard notifications. |
Raw materials needed Lithium-ion battery cells, aluminum for chassis, electronic components, and other EV-specific materials. |
Raw materials supplier Specific suppliers not disclosed publicly; likely sourced from Indian and global battery and electronic component manufacturers. |
Recurring vs cyclical contribution Revenue largely driven by product sales (cyclical), with increasing non-vehicle services driving recurring components through software and updates. |
Our industry position Among the top EV two-wheeler OEMs in India with rapid growth and strong market share. |
Financial highlights FY25 revenue INR 2255 Cr; Q3 FY26 unit sales up 50% YoY; net loss narrowing to INR -812 Cr; EBITDA improving steadily. |
Geographical revenue split Majority revenue from India (~2240 Cr); minor international sales (~14 Cr) as of FY25. |
Order book Not detailed; significant orders indicated by rising sales and production scale-up at new factory. |
Whats driving growth Growth fueled by rising EV adoption, product innovation, expanded charging infrastructure, and nationwide market expansion. |
Our future plans Expanding Factory 3.0 capacity to 1.42 million units in Maharashtra; new product launches and software feature enhancements planned. |
Our green promise Committed to sustainable mobility through emission-free electric vehicles and expanding fast-charging networks supporting green transport. |
Our people and values Focused on innovation-driven culture; employee diversity and values not detailed in reports. |
Key challenges ahead Profitability remains a challenge amid scale-up; competition intensifying; supply chain dependency on battery materials. |
Interesting facts First Indian two-wheeler OEM to build a proprietary fast-charging network; over 500,000 vehicles sold cumulatively by FY26. |
Risks and strategy Key risks include regulatory changes and supply risks; strategy emphasizes technology innovation, capacity expansion, and market penetration. |
