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News on Medial
How IPO-bound Ather Energy stacks up against Ola Electric, Bajaj Auto, Hero Moto, TVS Motor
Economic Times
·
3m ago
Medial
Ather Energy, an electric two-wheeler company, is preparing for an IPO but lags behind peers like Ola Electric, Bajaj Auto, Hero MotoCorp, and TVS Motor in business metrics. Despite posting losses, Ather aims to expand its market presence and manufacturing capacity. With a current market share of 10.7%, Ather plans to enhance its distribution network and launch new platforms. The IPO aims to raise Rs 2,981 crore with shares listed on May 6.
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Bajaj, Ather, TVS to cut output amid rare earth magnet shortage on China restrictions
Economic Times
·
28d ago
Medial
India's leading electric two-wheeler manufacturers, Bajaj Auto, Ather Energy, and TVS Motor Company, are reducing production due to a shortage of heavy rare earth magnets from China. This supply disruption threatens the sector’s rapid growth. The lengthy shortage, entering its fourth month, has led Bajaj Auto to possibly halve output, while Ather Energy plans an 8-10% reduction. In contrast, Ola Electric maintains its production by stockpiling essential magnets and exploring alternative supply channels.
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Ola continues to rule 2-Wheeler EV space in Nov; registrations cross 85K mark on festive boost
Inc42
·
1y ago
Medial
Electric two-wheeler registrations in India rose 14% MoM in November, surpassing 85,000 units, driven by festive season demand for top EV manufacturers. Ola Electric retained the lead with a 14% MoM increase, registering 27,331 units. TVS Motor, Bajaj Auto, and Ather Energy followed. Legacy players like Hero MotoCorp also witnessed significant growth. Overall EV registrations in November across vehicle categories reached 143,325 units, marking a YoY increase of over 36%.
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TVS tops April monthly sales as competition tightens in electric two-wheeler segment
YourStory
·
3m ago
Medial
In April, TVS Motor led electric two-wheeler sales with 19,749 units, overtaking rivals like Ola Electric and Bajaj Auto. Ola sold 19,709 units, and Bajaj sold 19,011 units. Ather Energy, preparing for public listing, sold 13,173 units. This competitive landscape frequently shifts, with Bajaj and Ola previously leading sales. Ola faces regulatory scrutiny over sales report discrepancies. TVS's success stems from the growing demand for its iQube Electric scooters.
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TVS and Bajaj battle for E2W leadership as Ola Electric's market share drops to 18% in May
YourStory
·
2m ago
Medial
TVS Motor maintained its lead in the electric two-wheeler (E2W) market, selling 26,144 units in May and holding a 26% market share. Bajaj Auto, with its Chetak Electric, sold 28,062 units, securing 27% market share. Ola Electric's sales dropped to 17,947 units, decreasing its market share to 17.89%. Ather Energy sold 12,841 units, gaining a 12% market share. Competition is intensifying, with TVS and Bajaj overtaking Ola, previously a market leader.
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TVS Motor’s 2W EV sales hold ground as iQube-maker tops June monthly sales
YourStory
·
1m ago
Medial
TVS Motor Company maintained its lead as India’s top two-wheeler EV manufacturer in June, holding about 27% of market share. The iQube maker has seen a continued rise in demand despite competition from Bajaj Auto and Ola Electric. Bajaj Auto secured 24.5% market share, while Ola experienced a 45% year-on-year sales drop. New entrant Ather Energy more than doubled sales, reflecting growing competitiveness in the EV sector amid global supply concerns.
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IPO-bound Ather converts itself into public entity
Entrackr
·
1y ago
Medial
Electric scooter manufacturer Ather Energy has converted itself into a public company. This marks the company’s concrete step towards a definitive initial public offering (IPO) plan. The board at Ather has approved the resolution to change the company’s status from private to public. Its name has now changed from Ather Energy Private Limited to Ather Energy Limited. The company recently raised Rs 286 crore ($34 million) in a mix of debt and equity through venture debt and co-founders. As per the startup data intelligence platform TheKredible, Hero Moto Corp is an associate company of Ather and controls around 38% stake with its recent investment of Rs 124 crore ($15 million) which materialized early this month. It has raised over $550 million to date and was valued at $750 million during its Series E round. According to Vahan data, Ather was the fourth largest two-wheeler EV manufacturer which controlled 9.45% market share in May. Ola Electric maintained the top position followed by TVS and Bajaj. Ather sold 6,024 units in the last month, up from 4,000 units in April. In March, its total sales stood at 17,000 units. Ather reported a flat scale during the fiscal year ending March 2024. Its revenue from operations decreased by a modest 1.5% decrease to Rs 1,754 crore in FY24 from Rs 1,781 crore in FY23. It competes with Ola Electric which got SEBI’s nod for its $660 million initial public offering this month. Ola Electric grew at an exponential rate in FY23 as its revenue from operations spiked seven-fold to Rs 2,631 crore in FY23. TVS, Hero Electric, River, and Okinawa are some other competitors of Ather.
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Ola Electric’s market share dips below TVS amid sharp drop in April sales
Economic Times
·
3m ago
Medial
Ola Electric's market share dropped below TVS Motor due to a significant decline in April sales, with a 42% reduction year-on-year. The company's sales fell to 19,709 vehicles, giving it a 21.46% market share, while TVS secured a slightly higher share at 21.5%. Bajaj Auto and Ather Energy also gained shares. Ola faces regulatory scrutiny over data discrepancies and operational issues, contributing to financial challenges and increasing losses.
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Two-Wheeler EV Registrations Remain Flat MoM In Feb; Ather, TVS Motor See Decline
Inc42
·
1y ago
Medial
Electric two-wheeler registrations remained steady in February, with a total of 81,963 units registered, almost the same as January's figures. Ola Electric was the leader in terms of registrations, with 33,722 units, followed by TVS Motor with 14,499 units and Bajaj Auto with 11,618 units. Ather Energy saw a decline in registrations, while Hero MotoCorp experienced a significant month-on-month increase at 17%. Other players, including Okinawa Autotech and Hero Electric, continued to struggle, possibly due to FAME-II subsidy issues. Overall, EV registrations across categories in February dropped slightly to 1.4 Lakh units.
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Ola Electric stuck in third spot in June as TVS Motor, Bajaj Auto maintain lead in EV two-wheeler market - The Economic Times
Economic Times
·
1m ago
Medial
Ola Electric maintained its third-place position in India's electric two-wheeler market in June, registering 18,527 units. TVS Motor and Bajaj Auto led with market shares of 25.4% and 22.8%, respectively. Despite a slight market decline, Ola Electric's market share was 19.6%. Ather Energy gained ground, planning significant expansion. Ola faced financial challenges, with its net loss widening and revenue falling. The company continues to focus on product expansion despite various hurdles.
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Ather Energy narrows gap with Ola Electric as EV sales decline amid rare earth magnet crunch - The Economic Times
Economic Times
·
4d ago
Medial
Ola Electric's focus on profitability has led to a decline in market share, allowing Ather Energy to narrow the gap significantly. Challenges from China's rare earth magnet export restrictions are causing production issues across the electric two-wheeler segment, impacting companies like Bajaj Auto and TVS Motor. Ola is developing alternative motors to address this issue. Meanwhile, Ather's growth is buoyed by new product launches, positioning it closer to Ola in market share.
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