Is the Gap Between Ola and Ather Narrowing as Ather Hits 20% Market Share?
About Ather Energy
Ather Energy, one of India’s leading electric scooter makers, has been steadily increasing its footprint with models like the 450S and 450X. In October 2025, the company achieved a new milestone — becoming the third-largest EV two-wheeler manufacturer in India with a 20% market share.
Ather’s October sales performance indicates a tightening race in India’s EV sector, with Ola Electric still leading but facing stronger competition from Ather and TVS.
October 2025 EV Two-Wheeler Market Snapshot
| Company | Market Share (Oct’25) | Change vs Sep’25 | YoY Change |
|---|---|---|---|
| Ola Electric | 33% | −2% | −4% |
| Ather Energy | 20% | +3% | +6% |
| TVS iQube | 18% | −1% | +3% |
| Bajaj Chetak | 13% | 0% | +2% |
Market Gap Check: The gap between Ola and Ather now stands at 13 percentage points, down from 18 points in September. This indicates that Ather is rapidly closing in on Ola’s lead, driven by consistent retail expansion and high consumer satisfaction scores.
Ather’s 20% share positions it ahead of TVS iQube, which previously held the number three rank. The shift underlines growing brand recall and product performance perception in the premium EV scooter space.
Traders and investors tracking the EV theme can analyze this structural shift using the tools below to align sector momentum with technical setups:
👉 Momentum Divergence Lens | Scalper Edge Signal
Valuation & Investment View
- Short-term: Ather’s rising sales momentum could translate into improved investor sentiment for Hero MotoCorp (its key shareholder).
- Medium-term: Expanding production capacity and export plans to ASEAN markets may drive incremental growth.
- Long-term: Increasing localization and energy network expansion can enhance competitiveness versus Ola.
Investors eyeing EV exposure may consider tracking Ather’s IPO plans once the company files its DRHP in coming quarters.
Investor Takeaway
Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Registered Investment Adviser, notes that Ather Energy’s surge to 20% share reflects structural strength in India’s EV evolution. While Ola remains market leader, the narrowing gap signals increased competitive intensity. Explore more such insights at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related Queries on Ather Energy
- Is Ather Energy Catching Up With Ola Electric?
- What Drives Ather’s Rapid Market Share Growth?
- When Is Ather Energy Expected to Launch Its IPO?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
