Ola vs Ather: Which Company Is Leading The EV Race?

Ola vs Ather

The Indian market for electric two-wheelers is experiencing unprecedented growth. Who are the major players in this race? They’re Ola vs Ather! You won’t believe that this current fiscal year (FY24) the electric two-wheeler sales crossed the 640k mark…

Ola vs Ather

Reason? Affordable prices, a consciousness to protect our environment with net zero emissions, and yes, the lithium batteries manufacturing in India! This is no less than a revolution.

Today, we will see the battle of Ola vs Ather and determine which company is leading the EV race. Stay tuned!

Quick Recap

Ah yes, let me tell you that we have already explained a few aspects of electric vehicles in India viz-

Let’s return to our point of discussion. So what I was saying is that if you have gone through the first topic i.e. Which automobile company is leading the electric two-wheeler race then you would have found the two key players i.e. Ola and Ather.

And this leads to our current write-up where we will go through a comparative analysis of Ola vs Ather.

Ola vs Ather: Profile Comparison

First of all, let’s have a look at a brief overview of both companies. Here I mean to say that we will compare their profiles to give you an idea about the backgrounds of Ola vs Ather. Also, please note that here the term “Ola” refers to “Ola Electric” which manufactures EVs, not the one you hail for ride!

Let’s begin the comparison-

Official NameOla Electric MobilityAther Energy Pvt. Ltd.
Type of CompanyPrivatePrivate
IndustryElectric VehiclesAutomotive,
Electric Vehicles,
FounderBhavish Aggarwal (CEO)Tarun Mehta,Swapnil Jain
HeadquartersBangalore (Karnataka, India)Bangalore (Karnataka, India)
Area ServedIndiaIndia
S1 Air,
S1 Pro
Ather 450X,
Ather 450X Pro,
Ather 450S,
Ather 450 Apex
Production Output (2022)200,000 51,749 
ServicesMotor vehicle manufacturing,
Motor vehicle distribution,
Charging solutions,
EV batteries
Electric Vehicles (Two-wheeler)
Hero Electric
Ola Electric, 
Kinetic Green,
Okaya EV
Ola vs Ather: Profile Comparison

In the next section onwards, we will dive into the details of Ola vs Ather.

Ola vs Ather: Businesswise Comparison

Here we will look at how Ola and Ather are performing in terms of various business aspects. First, we will compare the data and then we will analyze the takeaways-

Business AspectsOla ElectricAther Energy
FinancialsRaised $140 million.
Revenue: >Rs 2,700 crore (FY23). 
Reported loss: Rs 1,100 crore.
Secured investment: $108 million 
Revenue: Rs 1,806 crore (FY23).
4x growth.
Loss:  Rs.864.5 crore (FY23)
Growth StrategiesPlans to lease e-scooters, integrating with ride-hailing business.Shifted to dealership model (31 out of 34 centers).
Subsidy ChallengesAlso impacted by the 40% to 15% subsidy reduction. Faced a 57% sales drop due to EV subsidies reduction.
Trust From InvestorsRaised >$800 million, plans to go public Backed by established investors and Nikhil Kamath (Zerodha co-founder).
Charging InfrastructureAmbitious plan for 1 lakh hyperchargers, current count undisclosed. 1,000 charge points across 80 cities, aiming for 2,500 by the end of 2023.
Future PlansVision to become “Tesla for the West and Ola for the rest.”
Eyeing the four-wheeler market and international expansion.
Launched three new scooters, focusing on market expansion. 
Overall PositioningAppears to have an edge, but Ather Energy’s strategy and backing make them a strong contender. The ultimate winner remains uncertain.Strategic decisions and solid investor support make them a formidable competitor.
Ola vs Ather: Businesswise Comparison

In the dynamic landscape of electric mobility, the clash between Ola Electric and Ather Energy unfolds with the innovations.

Ola Electric, armed with a substantial $140 million investment and ambitious revenue figures, faces scrutiny over a notable loss, raising questions about financial sustainability. 

In contrast, Ather Energy, bolstered by a significant $108 million investment, boasts a remarkable fourfold revenue surge. Both navigate the subsidy challenges, each presenting distinct growth strategies and charging infrastructure plans. 

Thus, in this businesswise comparison we went through their financials, growth trajectories, investor trust, and future aspirations, setting the stage for an electrifying rivalry!

Ola vs Ather: Comparing the Market Performance

Let’s see how Ola vs Ather is performing in the Indian market-

CategoryOla ElectricAther Energy
Market Performance265,634 units, 31% market share, 143% YoY growth 104,443 units, 12.18% market share, 101% YoY growth
Sales OverviewSold 265,634 units in CY2023, recording 143% YoY growth.Achieved 104,443 unit sales in CY2023, marking 101% YoY growth.
Sales BreakdownConsistent sales momentum: 18,353 units in January, 21,434 units in March, and a peak of 29,908 units in festive November.Aggressive expansion: 935 experience centers and 392 service centers by end-October 2023.
Product PortfolioLaunched all-new S1 X+ with a 3kWh battery, certified range of 151km, 6kW motor, 0-40kph in 3.3 seconds. Expanded S1 portfolio to five scooters.Preparing for the launch of Apex 450, the quickest and most powerful Ather. Developing a new platform for two brand-new EVs.
Strategic MovesExpanded D2C omnichannel distribution network. Ola plans to launch new products, targeting the ICE scooter market.Ather received an increased stake from early investor Hero MotoCorp. Developing a new EV platform for family-oriented and evolved 450X models. 
Network & ExpansionApprox. 935 experience centers and 392 service centers across India by the end of October 2023.Around 150 experience centers across 100 cities, aiming for 120 cities and 200 outlets by end-FY2024. Focused on Tier-2, Tier-3, and Tier-4 markets.
Ola vs Ather: Comparing the Market Performance

Ola Electric, a heavyweight in the game is zooming ahead with an astounding 265,634 units sold in CY2023. Hold on tight – that’s a whopping 143% growth from the previous year, and they’ve snagged a 31% share of the electric two-wheeler pie. 

Notably, they kicked off deliveries of the sleek S1 X+, flaunting a 3kWh battery and a certified range of 151km. 

On the flip side, meet Ather Energy, the scrappy underdog with a 12.18% market share. Yet, don’t underestimate them – they’ve hustled their way to 104,443 units in CY2023, showcasing a resilient 101% YoY growth. Brace yourself for the upcoming launch of the upgraded Apex 450, Ather’s soon-to-be unleashed powerhouse, promising to be their quickest and mightiest creation yet. 

As both contenders revamp up their engines, expand networks, and plot strategic moves, the battle of Ola vs Ather Energy becomes a gripping spectacle in the ever-evolving world of electric mobility!

Ola vs Ather: Detailed Comparison of Two-Wheeler Sales

The following table describes the number of electric two-wheelers sold by Ola Electric and Ather Energy-

ParticularsOla ElectricAther Energy
Sales in April-Dec, 2023209,29273,025
Market Share in April-Dec, 202333%11%
Sales in FY23152,77976,939
Market Share in FY2321%11%
Sales in FY2214,40519,981
Market Share in FY226%8%
Ola vs Ather: Detailed Comparison of Two-wheelers

Analyzing the data presented in the table reveals a compelling narrative of Ola Electric’s and Ather Energy’s market performance. In the April-December 2023 period, Ola Electric significantly outpaced Ather in sales, registering 209,292 units compared to Ather’s 73,025 units. This robust performance translated to a commanding 33% market share for Ola, while Ather held an 11% share during the same timeframe. 

Examining the entire fiscal year 2022-23, Ola maintained its lead with 152,779 units sold and a 21% market share, leaving Ather trailing with 76,939 units and an 11% share. The data underscores Ola Electric’s substantial market dominance and consistent growth over the analyzed periods.

Comparing Famous Scooters: Ola vs Ather

In this section of the Ola vs Ather comparative analysis, we will look at the features of their famous electric scooters-

FeaturesOla S1 ProAther 450X
Price₹ 1,47,328 ₹ 1,37,769 
Riding Range (Km)915111
Charging time (Hrs)6.58.36
Power (W) 11000 6400 
Battery Capacity (kWh)2.9
Battery Type Lithium-ion Lithium-ion 
No. Of Batteries11
Swappable BatteryYesNo
Charger TypePortable ChargerPortable Charger
Gradeability (Degree)20
Braking SystemCBSCBS
Front & Rear Brake TypeDiscDisc
Wheel Type AlloyAlloy
Tyre TypeTubelessTubeless
Comparing the Famous Scooters of Ola vs Uber

From the provided table, it’s evident that the Ola S1 Pro and Ather 450X electric scooters offer distinct features catering to diverse preferences. While the Ola S1 Pro comes at a higher price of ₹1,47,328 compared to Ather 450X’s ₹1,37,769, it compensates with an impressive riding range of 915 km, surpassing Ather’s 111 km. 

Ola’s shorter charging time of 6.5 hours and higher power of 11,000 W outshine Ather’s 8.36 hours and 6,400 W. Both models share similarities in battery type, brakes, and wheel type. However, Ola’s swappable battery option and higher gradeability provide added flexibility and performance advantages over the Ather 450X.

Real-Time Data of EV Market Scenario in India

Indian Automobile companies in the electric 2-wheeler race

In December, the electric two-wheeler (E2W) market in India experienced a noteworthy 17% year-on-year upswing. Data sourced from the Vahan portal indicates that E2W sales in the fiscal year 2022-23 skyrocketed to 728,054 units, marking a twofold increase from the preceding year’s 252,641 units, excluding low-speed sales. 

Notably, high-speed E2W sales in the current fiscal year (FY24) surpassed 640,000 units by December. Ola Electric made substantial strides in market share, surging to 33%, a remarkable jump from 21% in FY23. In FY22, Ola held a mere 6% share, while Hero Electric dominated with 27%. 

Ola’s surge is attributed to the impactful ‘December to Remember’ campaign, featuring significant discounts, particularly slashing the S1X+ e-scooter prices by Rs 20,000 or 18%. Although most states witnessed a month-on-month decline in sales, Delhi, West Bengal, and Uttar Pradesh stood resilient. TVS also made strides, elevating its market share in the electric two-wheeler sector from 11% to 20% compared to the previous fiscal year. 

Ather and Bajaj secured the third and fourth positions, boasting 11% and 10% market shares, respectively. December, however, witnessed a dip in E2W sales at 75,366 units, notably lower than November’s figures (91,734) and falling short of the 100,000 mark achieved in May before the FAME program’s E2W subsidy cut.

Wrapping up Ola vs Ather: Which company is leading the EV race in India?

Here comes the final part of Ola vs Ather. Let’s revise a bit so that it becomes justifiable to declare the winner.

As you analyze the data-driven faceoff between Ola and Ather in India’s EV arena, the numbers paint a dynamic picture. Ola, with its impressive 33% market share, fueled by a strategic ‘December to Remember’ campaign, showcases a strong lead. 

In contrast, Ather’s solid 12% market share and innovative ventures suggest a resilient contender. The EV race is far from predictable, with each player having its unique strengths. While Ola may currently hold the reins, Ather’s steady growth and investor support hint at a potential shift. 

Keep a close watch on the dynamics of Ola vs Ather as the Indian EV narrative continues to unfold!

Related Posts:

Photo of author
Published By: Supti Nandi
Notify of
1 Comment
Newest Most Voted
Inline Feedbacks
View all comments
Vansh Kumar
Vansh Kumar
3 days ago

Seeing the current market situation, Ola seems to be the leading one, but Ather ev cars can’t be neglected!