Backed by Hero MotoCorp, it has slick tech and big expansion dreams.
Its listed rival Ola’s EV ride has been anything but smooth so far.
Can Ather be a better bet for the EV two-wheeler race?
A🧵
We will cover 4 key aspects in this analysis:
- Ather’s business model
- Financials
- Compare its numbers with competitors
- Key IPO details
Finally, we will wrap up with the positives and key concerns.
1. Business Model
Founded in 2013, Ather is a pure-play EV brand – selling e-scooters, software, charging gear, and smart accessories.
- 90% of revenue comes from vehicles
- 10% from the rest