Ather Energy was quoted in the Indian Stock Exchange at the end of April. In the first half 2025 sales hit 94.816 (+80.9%) and operation started abroad, in Nepal.
Ather is the oldest E2W start-up in the Indian market. Founded in 2013, it launched its first scooters in 2016 and is now a key EV player, ranked fourth in the Indian market in terms of sales volume after Ola Electric, Bajaj and TVS, and 10th in the EVs global ranking, which is dominated by Chinese OEMs.
Currently, the company has one manufacturing facility in Hosur (Tamil Nadu) that has an installed capacity to produce 420.000 units per year.
Ather currently offers two electric scooter models – Ather 450 and Ather Rizta 229 with a total of seven variants on a single platform. It is now developing a motorcycle platform named “Zenith” and a new scooter platform named “EL.”
The Zenith platform is being designed to support new electric two-wheelers targeting the 125-300cc motorcycle segments.
The automaker will manufacture models based on the new platforms at its upcoming facility in Aurangabad (Maharashtra). The production at the facility will start in a phased manner from May 2026.
The Second Indian EV IPO is coming
Following the Ola Electric 2024 quotation, Ather was the second Indian EVs specialist to be quoted.
Ather Energy raised $450.5M million in funding over 10 rounds. Their latest funding was raised on Sep 4, 2023. Key investors include HeroMotoCorp, Caladium Investments, NIIF, Tiger Global Management, GIC, and InnoVen Capital.
On April 28th 2025 the IPO officially quoted the company in the Indian Stock Exchange.
Sales Performance
The company achieved a sales record of 131.321 sales in 2024.
In the first half of 2025 sales have been 94.816 (+80.9%) and operation started abroad, in Nepal.
The full year projection is for around 200.000 sales, near the half of current production capacity.