Ola Electric rival Ather Energy aiming to capture 30% market share by FY24 end

Ather Energy, a Bengaluru-based electric vehicle manufacturer, is aiming to capture 30% market share by the end of FY24

Ola Electric is the current market leader with 27% market share in the electric two-wheeler market

Ather Energy registered its best monthly sales in February 2023 with 10,013 units sold

TVS Motor Co currently has 19% market share with 12,573 units sold in February this year

The electric two-wheeler segment is experiencing positive growth due to increasing environmental awareness, government incentives, and battery technology advancements

Ather Energy’s 450X is the leader in the 150cc scooter segment with 70-80% market share

To achieve 30% market share, Ather will need to significantly ramp up its production, distribution, and marketing efforts

Ather Energy’s 450S is expected to take 20-25% market share in the 125cc segment in the short term and compete with segment leaders TVS NTorq in the long term