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EVINDIA

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Ather Energy Surpasses Ola Electric in Revenue — Despite Selling Fewer Units (Q4 FY25) Ather Energy outperformed Ola Electric in Q4 FY25 operating revenue by ₹65 Cr — despite selling 1.5x fewer electric scooters. The numbers reveal an interesting story between efficiency and scale: Q4 FY25 Key Metrics Units Sold: (Jan–Mar 2025 | Vahan + Telangana Data) • Ather Energy: 47,579 • Ola Electric: 60,083 (Gen 2 sold until Jan 31; Gen 3 from Feb 2025) Operating Revenue: • Ather Energy: ₹676 Cr • Ola Electric: ₹611 Cr Net Losses: • Ather: ₹234 Cr • Ola: ₹862 Cr Retail Strategy: • Ather: 400+ dealerships • Ola: 4000+ company-operated experience centers Average Selling Price (ASP): • Ather: ₹1,42,080 • Ola: ₹1,01,690 Revenue Per Outlet: • Ather: ₹1.69 Cr (Dealership-led) • Ola: ₹0.15 Cr (Direct Retail) Market Capitalization (as of May 2025): • Ather Energy: ₹23,337 Cr ($2.51B) • Ola Electric: ₹11,857 Cr ($1.42B) #EVIndia #AtherEnergy #OlaElectric #EVStrategy

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