Latest news with #ZenithEV
NDTV
06-05-2025
- Automotive
- NDTV
Ather Energy Makes Tepid Debut On The Stock Market
Bengaluru-based electric scooter manufacturer Ather Energy commenced trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today, marking a significant milestone in India's electric vehicle (EV) sector. The company's shares listed at Rs. 328 on the NSE and Rs. 326.05 on the BSE, reflecting a modest premium of 2.18 per cent and 1.57 per cent, respectively, over the issue price of Rs. 321. Despite the initial uptick, Ather's stock experienced a downturn during the trading session, with prices dipping over 5 per cent to an intraday low of Rs. 308.95 on the BSE. This performance underscores the cautious sentiment prevailing among investors, particularly in the capital-intensive and competitive EV two-wheeler market. The Rs. 2,981 crore (approximately $352 million) Initial Public Offering (IPO) was subscribed 1.43 times, driven by interest from Qualified Institutional Buyers (QIBs) and retail investors. However, the Non-Institutional Investors (NIIs) segment saw a subscription of only 66 per cent, indicating a tepid response from this category. Ather's IPO proceeds are earmarked for several strategic initiatives, including the establishment of a new manufacturing facility in Maharashtra, investment in research and development, marketing efforts, and debt repayment. The company aims to enhance its production capabilities and expand its footprint in the burgeoning EV market, especially bolstering its production at its new manufacturing plant in Chhatrapati Sambhaji Nagar (Aurangabad) in Maharashtra, which will cater to the two new EL and Zenith EV platforms and have an annual capacity of almost a million units, with the current Hosur plant having a capacity of 4.5 lakh units per annum. Founded in 2013, Ather Energy has been a pioneer in India's electric scooter segment, known for its technology-driven approach and premium offerings. However, it faces stiff competition from established players like Ola Electric, TVS Motor, and Bajaj Auto. The company's decision to proceed with the IPO, despite reducing its valuation by 44 per cent from initial expectations, reflects its commitment to long-term growth amidst market volatility. Industry analysts suggest that Ather's future performance will hinge on its ability to scale operations, achieve profitability, and navigate the challenges inherent in the EV sector. The company's focus on innovation and infrastructure development will be critical in determining its trajectory in the competitive landscape. As Ather Energy embarks on its journey as a publicly listed entity, stakeholders and investors will keenly observe its strategies and execution in the evolving electric mobility ecosystem, particularly in India.
NDTV
30-04-2025
- Automotive
- NDTV
Ather Energy Says 40 Per Cent Two-Wheelers Could Be EVs By 2031
India is the largest two-wheeler market in the world, with the total number of two-wheelers sold in India in FY2025 was 19.61 million, which was a growth of 9.1 per cent over the previous financial year. Out of this, electric two-wheeler sales consisted of around 1.14 million units or 5.81 per cent of the total two-wheeler sales. This itself represents a growth of 21 per cent over EV two-wheeler sales in FY2024. But Tarun Mehta, co-founder and CEO, Ather Energy, is bullish on EVs and in an interaction with ET, he said that up to 40 per cent of two-wheelers could be EVs by 2031, which is barely six years from now. Within scooters too, he said that a majority of them will be electric. Mehta is particularly bullish about scooters and said that scooters have been outgrowing motorcycles for a while now, which in turn led to an increase in market share and it will be the case going forward too. Ather's confidence in EVs is further bolstered by its new manufacturing plant in Chhatrapati Sambhaji Nagar (Aurangabad) in Maharashtra, which will cater to the two new EL and Zenith EV platforms and have an annual capacity of almost a million units, with the current Hosur plant having a capacity of 4.5 lakh units per annum. Both platforms will be scalable and optimised for cost. Ather claims to leverage its experience with manufacturing new scooters from scratch, in the development of these two platforms. Tarun Mehta believes that there should be more types of scooters available to Indian buyers with significant segregation within the scooter industry already in place.
