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Ather Energy ventures into auto insurance distribution

Entrackr · 3h ago

Medial

Ather Energy ventures into auto insurance distribution Electric two-wheeler maker Ather Energy is entering the auto insurance distribution space by incorporating a wholly owned subsidiary that will operate as a corporate agent, according to a recent filing with the National Stock Exchange (NSE). The subsidiary is yet to be incorporated and is awaiting approvals from the Registrar of Companies (RoC) and the Insurance Regulatory and Development Authority of India (IRDAI), the filing said. Ather will initially invest Rs 8 crore in the subsidiary, with additional investments planned as operations scale up. Through this move, Ather aims to streamline its insurance offerings, enhance customer experience, and diversify revenue streams by building a recurring income stream. By bringing insurance distribution in-house, the company plans to work with multiple partners, simplify renewals, introduce EV-specific insurance products, and improve insurance attach rates over time. According to Vahan data, Ather Energy retained its third position in November but saw a 30% month-on-month decline, with registrations falling to 20,018 units from 28,405 in October. The company holds a 17.43% market share. As of 2:10 PM, Ather’s shares were up over 4% and trading at around Rs 689, with a market capitalization of Rs 26,271 crore ($2.9 billion). For the second quarter, the company overtook its rival Ola Electric and posted a revenue of Rs 899 crore in Q2 FY26, increasing from Rs 583 crore in Q2 FY25. The company’s net losses reduced by 20% to Rs 157 crore in Q2 FY26 from Rs 197 crore in Q2 FY25.