Who Will Win the Two-Wheeler EV Race?
- Ather Energy has filed for an IPO, aiming to raise about ₹3,100 crores through fresh shares and offers for sale. - In FY24, Ather reported revenues of ₹1,700 crores but faced losses of ₹1,000 crores, partly due to reduced FAME subsidies. - Ola Electric, a major competitor, reported revenues of ₹5,200 crores with losses of ₹1,580 crores in FY24. - Ola holds 35% market share, TVS 19%, and Ather 12%, with Ola selling 3.3 lakh scooters compared to Ather's 1.1 lakh in FY24. - The Indian two-wheeler market is shifting towards electric, with sales growing by 100% between FY2019 and FY2024, while petrol two-wheeler sales declined by 4%. Source: [Zerodha- The Daily Brief]()
Rooting for Ather, but gut feeling says, old boys will have the cake. Unmatched distribution, better engineering resource, established supply chain, superior service network and brand trust gives bajaj, TVS and hero a better chance of winning.
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