Over the past three years, the electric vehicle market in India has undergone significant changes, yet Ather Energy, a notable player in the EV startup scene, has experienced a period of stagnation. Electric two-wheelers (E2W) now dominate with a commanding 60% market share, featuring competitors such as Ola Electric, TVS, Chetak, and Hero MotorCorp’s Vida, all of which have entered the market recently. While Ather Energy initially sought to distinguish itself through innovative design and technology, as well as a deliberate approach to product development and ecosystem building, the competition has intensified. Ola Electric has emerged as a frontrunner, with TVS and Bajaj also expanding their EV offerings. Meanwhile, Ather Energy remains focused on building the necessary infrastructure to scale up. As Ola Electric prepares for an IPO, Ather Energy is in the process of conceptualizing its next generation of products.
What caused the slowdown of India's original electric vehicle (EV) startup?
Updated: Feb 12
Comentários