An Indian company just proved that people here aren’t afraid to pay a premium, they’re just waiting for a product that deserves it.

The company I am talking about is Ather Energy. In a market driven by discounts and subsidies, Ather chose to build quality and not reduce prices.

𝟭) 𝗛𝗼𝘄 𝗶𝘁 𝗮𝗹𝗹 𝗦𝘁𝗮𝗿𝘁𝗲𝗱?

- Founded in 2013 by IIT Madras grads Tarun Mehta and Swapnil Jain.

- Started from a small lab at IIT, both were frustrated seeing EVs being treated as “cheap alternatives” rather than desirable machines.

- Wanted to build India’s first high-performance electric scooter.

- Name “Ather” itself means pure, reflecting their clarity of purpose.

𝟮. 𝗧𝗵𝗲 𝗦𝗽𝗮𝗿𝗸 𝗕𝗲𝗵𝗶𝗻𝗱 𝘁𝗵𝗲 𝗜𝗱𝗲𝗮

- They realized that the biggest problem wasn’t just the battery, it was the perception of EVs.

- Focused heavily on design, connectivity and software, long before others were talking about smart mobility.

𝟯. 𝗧𝗵𝗲 𝗘𝗮𝗿𝗹𝘆 𝗬𝗲𝗮𝗿𝘀

- Ather took 5 years to launch their first product, the Ather 450 in 2018.

- Instead of rushing, they spent years perfecting every detail — battery, software and even their own charging network.

- Because of it being on the expensive side volume was less but there was strong loyalty and response from customers.

- Hero MotoCorp’s 2016 investment gave it credibility and fuel for growth.

- Slowly built a loyal customer base who valued engineering over hype.

𝟰. 𝗧𝗵𝗲 𝗣𝗿𝗶𝗰𝗲 𝘁𝗮𝗴 𝘁𝗵𝗲𝘆 𝗿𝗲𝗳𝘂𝘀𝗲𝗱 𝘁𝗼 𝗱𝗿𝗼𝗽

-As competition intensified, rivals like Ola and TVS went for aggressive pricing.

- But Ather held its ground announcing no major price cuts.

- They have never launched a scooter below 1 Lakh.

𝟱. 𝗟𝗮𝘂𝗻𝗰𝗵 𝗼𝗳 𝘁𝗵𝗲 𝗔𝘁𝗵𝗲𝗿 𝗥𝗶𝘇𝘁𝗮 𝗽𝗿𝗼𝘃𝗶𝗻𝗴 𝘁𝗼 𝗯𝗲 𝗴𝗮𝗺𝗲𝗰𝗵𝗮𝗻𝗴𝗲𝗿

- In April 2024 Ather launched Ather Rizta which is a family scooter.

- Larger, comfortable and affordable without compromising Ather’s signature quality.

- Rizta now makes up nearly 60% of Ather’s total sales.

- It helped Ather expand from niche enthusiasts to mainstream users, redefining its market presence.

- Result? Market share that was just 12% in May has now overtaken Ola Electric, which once had 30%.

- Stock price has doubled in barely 6 months of IPO.

𝟲. 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗔𝘁𝗵𝗲𝗿 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺

- Expanding Ather Grid across highways and tier-2 cities.

- Setting up a new mega factory in Maharashtra which would triple their production capacity.

- Deepening the Ather Experience Centres model to make buying an EV more experiential.

- Ather’s in-house capabilities could become its biggest edge in scaling profitably.

- They have launched EL Platform which can quicker innovation cycles and lower costs over time.

India’s EV story is still in its early years and Ather looks perfectly poised to become the next market leader.