Despite having a first-mover advantage, Ather Energy has fallen behind Ola Electric due to the latter’s speed in expanding market reach and scaling up infrastructure and sales
Ather’s vehicle registrations in August 2024 stood at around 10,902 units and Ola Electric’s at 27,547 units
Ather has an opportunity to speed up product development and increase its sales using the proceeds from its upcoming IPO to reduce the difference with Ola Electric
Riding the IPO wave in the domestic equity market this year, Ather Energy is set to become the second electric mobility startup to go public.
Amid growing appetite for new-age tech stocks among Indian stock market investors, 10 such companies have already listed on the bourses this year, including Ather’s biggest competitor Ola Electric.