What’s inside:
This article discusses the recent performance of Ather Energy and Ola Electric in the electric scooter market, including their market caps and sales figures.
Ather Energy, an electric scooter company from Bengaluru, has recently gained investor confidence. On Monday, its market cap surpassed that of Ola Electric Mobility for the first time since both companies entered the electric scooter market. Ather’s shares closed up by 4.78%, bringing its market cap to Rs 23,601 crore.
In contrast, Ola Electric’s shares fell by 2.54%, reducing its market cap to Rs 23,200 crore. During the July to September quarter, Ather Energy also outperformed Ola Electric in total sales, marking a significant shift in the market.
In September, Ather sold 52,597 units, finishing second among Indian electric two-wheeler manufacturers, while Ola Electric’s sales dropped by 47% compared to the previous year, placing them fourth. TVS Motor Company topped the list with 69,195 units sold, and Bajaj finished third with 51,120 units.
Ather Energy was founded in 2013 and began selling scooters in 2018, while Ola Electric started in 2017 with support from SoftBank. Ola Electric has faced challenges this year, leading to a decline in sales, despite expanding its store numbers and launching new products.
Ola shares have fallen 31% since their listing in August 2024, while Ather’s shares have more than doubled since their listing in May. By the end of June, Ather’s promoters held a 42.09% stake in the company.
Summary:
- Ather Energy’s market cap has surpassed Ola Electric’s.
- Ather’s shares rose by 4.78%, while Ola’s shares fell by 2.54%.
- Ather sold 52,597 units in September, outperforming Ola Electric.
- Ola faced a 47% drop in quarterly sales compared to last year.
- Ather’s promoters held a 42.09% stake by the end of June.
