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

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…

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-

• Which Automobile company is leading the electric 2-wheeler race?
• The potential of Lithium in India & how can it help our economy?
• Will Ola Electric IPO be a success? Complete breakdown.
• Tata’s Big EV ambitions- Tata Group’s biggest bets for India

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-

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-

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-

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-

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-

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

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!