Ather Energy is on track with its commitments. In 2025, the company achieved an outstanding 73% growth, reaching 223,632 sales. Among its goals for 2026 are the launch of new models based on the L-platform, expansion of the network, and improvements in EBITDA.
McD tracks new vehicle registrations across 97+ countries worldwide, reporting data based on the calendar year. When comparing the data reported by us to that declared by manufacturers, it’s important to note that manufacturers typically report their “sales” (vehicles invoiced), which often differ from “registrations” due to variations in their fiscal year reporting.
Global Sales Performance
Following Ola Electric‘s 2024 IPO, Ather became the second Indian EV specialist to go public, listing on the Indian Stock Exchange on April 28th, 2025.
However, its sales trajectory has been quite different from its competitor’s. After reaching 131,321 sales in 2024, the company achieved an outstanding 73% growth in the following year, reaching 223,632 sales. Additionally, Ather expanded internationally, launching its first subsidiary abroad and beginning operations in Nepal.
2026 Company’s Goals
This year, Ather Energy’s main goal is to expand its presence in India by further growing its network of “Experience Centres.” The company is on track to open over 700 centres by the end of 2025, with plans to expand internationally into a few additional countries.
While aiming to increase sales volume to at least 250,000 units (with current capacity already exceeding 400,000), a key focus is improving profitability. This will be supported by ongoing processes, with Q2 FY26 results showing a 55% reduction in EBITDA losses compared to the same period last year, despite price increases for models, as previously announced.
Ather Energy’s Q2 FY26 results clearly demonstrate a strong trajectory toward profitability, driven by consistent operational execution and strategic initiatives. The narrowing of EBITDA losses and improving gross margins reflect the benefits of scale, value engineering, and growing non-vehicle revenue streams. Management addressed challenges such as a one-time impact from a rare earth supply crunch, which affected Q2 subsidies, and delays in the new manufacturing plant. Clear explanations and mitigation strategies were provided.
Building on the new modular EL platform introduced last year, Ather is set to launch a new model based on the EL01 concept, which is expected to further support sales volume growth.
Ola Electric Heritage
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.
