Ather Energy has significantly closed the gap with its cross-city rival and is now within striking distance of Ola Electric for the third spot in monthly electric two-wheeler (E2W) sales. In July so far, Ather has sold 10,754 units, capturing a 16% share in total E2W sales, while Ola Electric is just 500 units ahead with 11,270 units and a 16.6% share, according to Vahan data.
A year ago, Ola dominated the E2W market, clocking sales of 41,803 units and commanding a 39% market share in July 2024. However, the Bhavish Aggarwal-led company has since ceded its leadership position to legacy players like TVS Motor and Bajaj Auto, amid concerns around product quality, weak after-sales service, and regulatory scrutiny over discrepancies in reported sales data.
Ather’s market share gain
Ather attributes its market share gains to the strong performance of its family-focused electric scooter, Rizta. “Rizta has been at the front and centre of our growth story,” said Ravneet Singh Phokela, chief business officer, Ather Energy. He added that the model has helped the company tap into a large base of family buyers prioritising comfort, safety, and reliability.
Ather had initially focused on its lineup of 450 scooters — including the 450S, 450X, and 450 Apex — with ex-showroom prices ranging from ₹121,000 to ₹190,000 in Delhi. In April 2024, it unveiled Rizta scooters with aggressive pricing of ₹99,999 and ₹114,500, helping Ather crack the price-sensitive family segment. The Rizta, which went on sale across the country in June 2024, crossed the 100,000 unit sales milestone within a year and now contributes nearly 60% of Ather’s total volumes.
Ather’s aggressive network expansion also played a key role in Ather Energy’s market share gain. The Bengaluru-based EV maker plans to double its retail network to 700 centres across the country by the end of FY26. As of March 31, 2025, Ather had 351 centres in India, with nearly half located in the South.
“The strong response to the product led us to fast-track our retail expansion, especially in markets like the North and West where we had significant headroom to grow,” Phokela said. “Combined with a consistent focus on customer experience and service, this has helped us expand our reach and improve conversion. It’s encouraging, and we see this as the outcome of a deliberate, long-term approach rather than short-term spikes.”
Ola Electric’s performance
Meanwhile, Ola Electric dispatched 68,192 units in Q1FY26, a sharp decline from 125,198 units in the same quarter last year. On a sequential basis, however, sales improved 33% from 51,375 units in Q4FY25. The company is now betting on its new Gen 3 scooters and the upcoming Roadster electric bike to drive volumes in the coming quarters.
In Q1FY26, Ola reported registrations of 60,000 units, while deliveries stood at 68,000 units. The company attributed the gap to a backlog of 7,000 units carried over from Q4FY25 — when it had 58,000 registrations and 51,000 deliveries — as well as sales from non-Vahan states.
Bhavish Aggarwal, chairman and MD of Ola Electric, said the company’s market share is currently in the high teens or around 20%, attributing the divergence between registration and delivery data to timing lags.
“Last quarter, we had a lag on deliveries and higher Vahan. Hence, our revenue was lower, but Vahan was higher. That delta is almost the same in the opposite direction this quarter. So we have a slightly higher delivery number and a slightly lower Vahan number,” Aggarwal said in the recent earnings call.
According to the company, it faced delivery gaps in February, March, and April, which have since been addressed starting April. Ola expects registration numbers to reflect this and improve in the coming months.
Meanwhile, TVS Motor, which took the lead in April, continues to retain the top spot with 14,280 units sold and a 21% market share in July so far. However, Bajaj Auto is close on its heels, also holding a 21% share with 14,212 units sold, putting the two legacy players in a neck-and-neck race for leadership.