Lack of PLI forcing us to delay launches: Ather CEO

With a 19.6 per cent share of the electric two-wheeler (e2W) market in October, and with its revenues up and losses down in the second quarter of 2025-26 (Q2FY26), Ather Energy is already in the top three — the third-largest player in the space — locking horns with TVS and Bajaj.

- 

The company’s chief executive officer (CEO), Tarun Mehta, talks about the opportunities and the challenges in the market in a video call with Surajeet Das Gupta.

Edited excerpts:

Despite Ather increasing market share and reducing losses, do you think the electric vehicle (EV) market is growing as much as was expected or anticipated?

■ This festival season, the industry sold 1.5 lakh vehicles, which was on expected lines, despite the rare earth magnet shortage that constricted supplies and companies like us had many stockouts. If we had enough rare earth magnets, we could have easily sold more as demand was there. Also, the numbers happened in the background of the largest change in price, with goods and services tax (GST) on internal combustion engine (ICE) scooters coming down by 10 per cent. Despite that, fears that demand could stall, it did not happen, which also shows how sustainable the demand for EVs is.

But is there a clear divide in electric scooter (e-scooter) on growth based on segments?