What They Build
Ather designs electric scooters, battery systems, vehicle software, charging infrastructure, and manufacturing systems for India's two-wheeler market.
Why They Matter
Ather matters because it treated the Indian electric scooter as an engineering product, not only a subsidy window. Its work across vehicle, software, charging, and manufacturing made it an early anchor for serious EV talent in India. Public-market pressure will test whether that product discipline can coexist with mass-market cost curves.
Founders
Tarun Mehta, Swapnil Jain
Recent Milestones
- Listed on NSE and BSE in May 2025 after a Rs 2,981 crore IPO
- 262,942 scooters sold in FY26, up 69% year on year, with total income of Rs 3,823 crore and a top-three electric two-wheeler market share
- Charging access crossed 5,000 fast chargers across 395+ cities in January 2026, including partner networks
- Growth raise approved in July 2026: a Rs 1,200 crore preferential issue with up to Rs 1,000 crore more from Hero MotoCorp, alongside a QIP of up to Rs 1,500 crore
- Third plant announced at Bidkin, Maharashtra, with planned capacity of one million two-wheelers a year