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Time of India
2 days ago
- Automotive
- Time of India
Ather closing in on Ola Electric in July EV sales
Ola Electric 's shift from chasing growth to focusing on profitability has come at a cost. Its market share in the electric two-wheeler segment slipped to 17.2 per cent as of July 27, down from 19.9 per cent in June, as per Vahan data. Ather Energy , its listed rival, is now within striking distance, clocking 13,187 units this month for a 16.5 per cent share. The gap of just 526 units between Ola Electric and Ather Energy in July so far marks a sharp narrowing compared with June, when Ola Electric had sold over 5,000 units more than Ather Energy. Ola Electric reported a net loss of ₹428 crore on revenue of ₹828 crore for the first quarter of FY26. Losses widened 23 per cent from ₹347 crore in the same quarter last year but shrank 51 per cent from ₹870 crore in the January-March period. Revenue rose 35 per cent sequentially from ₹611 crore but was down 49.6 per cent year-on-year. Ather Energy is yet to report its financials for the April-June period. Responding to queries sent by ET, Ravneet Phokela, chief business officer of Ather Energy, said that the recent growth in its numbers was on account of the launch of its family-oriented scooter series, Rizta, which has expanded its user base across new segments and geographies. Queries sent to Ola Electric, Bajaj Auto , and TVS Motor remained unanswered till press time. This shake-up in market positions comes amid rising concerns over China's curbs on rare earth magnet exports, which are starting to hit electric two-wheeler sales in India. The segment has seen a 21.6 per cent drop in volumes so far in July versus June. Even legacy players like TVS Motor and Bajaj Auto, which lead the category, have seen sharp month-on-month declines of 31 per cent and 27.4 per cent, respectively. Phokela of Ather Energy said the company has so far managed to avoid any major impact by balancing inventory between its manufacturing units and dealerships. 'As an industry, all of us are also exploring alternative sources and technologies, but that's not ready at this point in time,' he said. In a recent interview with ET, Rajiv Bajaj, managing director of Bajaj Auto, said August could be a 'zero month' for its electric scooter Chetak and electric three-wheeler GoGo due to a shortage of rare earth magnets, making it the first automaker to halt production as a result of China's export curbs on the key component. Ola Electric slips The drop in Ola Electric's market share and sales has come at a time when it has been grappling with a range of challenges, including scrutiny over sales data discrepancies, vehicle quality concerns and missing trade certificates at several of its retail outlets. 'Ola Electric has been grappling with the issues of quality historically, because of which the brand has taken a hit,' said Jay Kale, executive vice president of Elara Capital. 'While they have mentioned in their earnings calls that their Gen 3 products have a much better quality, it will take time for that to reflect in the market and the word of mouth to spread.' Ola's stock has also underperformed since its listing. On Friday, it closed at ₹41.2 on the BSE, well below the IPO price of ₹76. In contrast, Ather's shares closed at ₹333.7, up from its IPO price of ₹321. In February, Ola Electric reported 25,000 vehicle sales in its filings, while Vahan data showed just 8,652 registrations.
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Business Standard
03-06-2025
- Automotive
- Business Standard
Ather Rizta crosses 100,000-unit sales within a year of market launch
Ather Energy's flagship electric scooter, the Rizta, has surpassed retail sales of 100,000 units within a year of its unveiling. Between July 2024 and April 2025, the company sold 99,691 units, requiring just 309 more sales in May 2025 to cross the milestone. Unveiled in April 2024, the Rizta officially went on sale in June 2024. Rizta drives 60% of Ather's FY2025 sales volume In the last nine months of FY2025 alone, Ather sold 89,639 units of the Rizta, accounting for approximately 60 per cent of the company's total annual sales. Ather recorded its highest-ever fiscal year sales in FY2025, with 155,405 units sold. Surpassing other models such as the Ather 450X, 450S, and 450 Apex, the Rizta has emerged as the preferred choice for electric two-wheeler buyers across India. According to Autocar Professional, 10,052 units were sold in April 2025 and another 10,000 units in May 2025. Rizta expands reach and broadens customer base 'Hitting the 1 lakh milestone with the Rizta is a big moment for us. The Rizta, which was built from the ground up with a focus on addressing the needs of Indian families, has played a key role in expanding our reach and connecting with a much wider set of customers,' said Ravneet Phokela, Chief Business Officer, Ather Energy. 'It combines practically everything a family scooter needs: a spacious and comfortable seat, ample storage, safety features, and reliability to make everyday commuting effortless; all that packaged in great design that Ather has come to be known for. In less than a year since its launch, the Rizta has helped us grow our market share significantly across multiple states, broadened our consumer profile, and accelerated adoption in states where our presence was earlier limited,' he added. Phokela further emphasised how the Rizta has helped extend Ather's reach among Indian families. Rizta helps Ather lead in South India in Q4FY25 According to the company, 'The Rizta, along with the Ather 450 series, has enabled Ather to become the number one brand in South India in Q4FY25, as per Vahan data.' Rizta features offer family-friendly functionality and safety The Ather Rizta comes with 56 litres of under-seat storage and is equipped with the SkidControl traction control system. Additional features include Tow & Theft Alert, an Emergency Stop System, and Live Location Sharing—enhancing both safety and convenience for everyday users.
