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Ather Energy is racing ahead while still bleeding cash
Mint Hyderabad
|September 03, 2025
Catching up
The race for dominance in India's electric two-wheeler (E2W) market is heating up, as Ather Energy Ltd has nearly matched the monthly sales volumes of rival Ola Electric Mobility Ltd.
According to Vahan data, Ather achieved its best-ever monthly retail sales of 17,856 units in August, closing in on its pure-play EV rival Ola Electric, which sold 18,972 units during the same period. Notably, Ola's sales declined by 31% year-on-year, while Ather's surged 62%, despite its focus on the premium segment.
Ather is India's third-largest E2W company behind second-place Ola and market leader TVS Motor. Ather's share rose to 14.3% by FY25-end from 7.6% in Q1FY25.
How did Ather pull this off?
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