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