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I've always been a fan of Ather Energy. The quality of technology and engineering behind the product blows me away. Not many know - they were basically pioneers in developing EV battery technology and charging standards in India(especially early on, when expertise was limited). 💭It's also the thoughtful stuff like - - Sharing live location with a click to an emergency contact - Ping my scooter to find your vehicle in the parking lot - Ather's reliable BMS (almost no fire incidents reported because of battery issues) - Boot space turns into a carry bag - Place to put a ganda kapda(named - "Joey pocket") - Skid and traction control 🛵Ather's DRHP had some very interesting points on India's 2W industry - - India's 2W penetration is now at 118 per 1000 people - The price gap between a 2-wheeler and a 4-wheeler is high (Limits upgrades to 4W) - India is the largest 2W market by volume (Domestic sales at 18.4 million in FY24) - 2W sales usually peak in Jan-March and again during festive seasons Sep-Dec - Motorcycles once made up 78% of India's 2-wheeler sales, but have dropped to 63%, while scooters rose from 15% to 34% - Replacement cycles of 2W are shrinking from 10-12 years to 7-8 years now - EV companies are changed the sales landscape from dealer-owned to company-owned, company-operated (COCO) experience centers --> higher risk, but with significant advantages. 📈Growth Drivers of the E2W industry- - Easier to buy with NBFCs, Banks offering credit - Lithium-ion cell and battery pack prices are steadily declining due to economies of scale - Government policies like FAME II, EMPS 24 and vehicle scrappage programs are helping adoption - Public chargers are projected to grow at a 38% CAGR from FY24 to FY31. 🕵️The DRHP also highlights key competitors in this space like Bajaj and Ola - - Bajaj Chetak is now at 16,000 units a month (March 24) - Ola is the largest player with 53,000 units in March 24 - Ather didn't mention their March sales but reports suggest its around 17,232 ⏩I'm super bullish on Ather. They will surely play a major role in India's EV journey. (Disclaimer: This is not financial advice. I am not SEBI-registered, just a passionate supporter of the company.)