Ather Energy Overtakes Ola, Challenges Bajaj in E-2Wheeler Market
Ather Energy has surged ahead in the electric two-wheeler (e-2wheeler) market, overtaking Ola Electric and now challenging Bajaj Auto in the stock market today. This comes as Ola Electric struggles with sales, while Ather expands its reach and touchpoints.
Ather's success can be attributed to its popular Rizta electric family scooter, which accounts for 70% of its sales. The company has expanded significantly in the Southern Indian market, where it holds the number one position. Its major markets outside the South include Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, and Odisha. Ather has increased its touchpoints by 156% year-on-year, from 49 outlets in March 2024 to 109 outlets recently.
Meanwhile, Ola Electric retains the number three position with 1.5 lakh units sold in January-September. However, it has been facing sales struggles since the start of the year. Other competitors like Hero MotoCorp's Vida and TVS's iQube and Orbiter e-scooter are also making significant strides in the stock market today.
Ather Energy is now eyeing Bajaj Auto for the number two position in e-2wheeler sales. With its strong performance and expanding reach, Ather continues to make waves in the electric two-wheeler market, challenging established players.
