Ather Energy
Ather Energy is an India-based electric two-wheeler manufacturer that designs, manufactures, and sells connected electric scooters (Ather 450 series and Rizta) through direct-to-consumer Experience Centres, online booking, and India's largest two-wheeler fast-charging network.
- Company typePublic
- Founded2013
- HeadquartersBangalore, India
- Headcount1,001–5,000
- GTM typeB2C
- OfferingHardware or Manufacturing
What Ather Energy does
Ather Energy is an Indian electric two-wheeler manufacturer founded in 2013 and headquartered in Bengaluru, listed on Indian stock exchanges (BSE: 544397) since a May 2025 IPO that raised ₹2,981 crore. The company designs, manufactures, and sells connected electric scooters through two product lines — the performance-oriented Ather 450 series (450S, 450X, 450 Apex) and the family-oriented Rizta (Rizta S, Rizta Z) — at ex-showroom prices ranging from roughly ₹1.21 lakh to ₹1.95 lakh. All vehicles run on AtherStack, Ather's proprietary connected vehicle software platform delivered with over-the-air updates, AI-powered voice control (Voice on Ather), predictive diagnostics, navigation, and theft alerts; AtherStack Pro is sold as a recurring add-on at ₹4,999 with a near 90% attach rate across the fleet. Ather also operates the Ather Grid, India's largest two-wheeler fast charging network with 5,900+ public charging points across 379+ cities, and offers the Ather Duo home charger, Halo smart helmet, and accessories.
The business model combines hardware sales with growing software and services monetization: Battery as a Service (BaaS) lowers entry prices to ₹75,999 (Rizta) or ₹84,341 (Ather 450) and bundles charging access, while AtherFlexipay financing (starting at 3.99% interest, zero down payment) and a forthcoming Ather Insurance Limited subsidiary extend the per-customer revenue footprint beyond the unit sale. The company sells direct-to-consumer through 664+ Experience Centres, 508+ Service Centres, and online booking at atherenergy.com, with additional distributor-led presence in Nepal and Sri Lanka. Hero MotoCorp remains the largest shareholder at approximately 38% as of June 2026.
Ather reported FY26 revenue of ₹3,671 crore on sales of 263,000 vehicles (69% YoY growth), holding approximately 16.5% of India's electric two-wheeler market — the third-largest share behind TVS and Bajaj. Q4 FY26 EBITDA approached breakeven (-2.5%) and adjusted gross margins reached 25%, an improvement of 700 basis points, while full-year net losses narrowed 36% to ₹517 crore. Manufacturing is anchored at Hosur with Factory 3.0 (₹2,000+ crore investment, 500K–1M unit annual capacity) under construction in Chhatrapati Sambhajinagar, Maharashtra, supported by a board-approved ₹2,500 crore capital raise in June 2026.
Ather Energy firmographics
Firmographics- Name
- Ather Energy
- Legal name
- Ather Energy Limited
- Website
- https://atherenergy.com
- Company type
- Public
- Founded year
- 2013
- Operating status
- Ipo
- Headcount range
- 1,001–5,000 employees
- Short description
- Ather Energy is an India-based electric two-wheeler manufacturer that designs, manufactures, and sells connected electric scooters (Ather 450 series and Rizta) through direct-to-consumer Experience Centres, online booking, and India's largest two-wheeler fast-charging network.
- Ownership category
- akta.pro rank
Ather Energy industry classification
Industry- Product category
- Electric Two-Wheelers
- NAICS
- Motorcycle, ATV, and All Other Motor Vehicle Dealers (441227)
- SIC
- Motorcycles, Bicycles & Parts (3751)
- akta.pro primary industry
- V2G/V2H/V2B Enablement Platforms (Control, Optimization, Dispatch) (EUAFAMAB)
- akta.pro secondary industries
- Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA), Automotive Infotainment, Telematics & Connectivity Hardware Manufacturing (TCU/V2X/GNSS) (IMACAJAH)
Keywords
Where Ather Energy is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Offices3 records
Markets served
Ather Energy business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Electric Two-Wheeler Sales: Primary revenue stream from manufacturing and selling electric scooters. Products include Ather 450 series (performance-oriented) and Ather Rizta (family-oriented). Models range from ₹1,21,499 to ₹1,94,999 ex-showroom. FY26 revenue reached ₹3,671 crore with 2.63 lakh units sold, up 69% year-over-year.
- AtherStack Software Subscriptions: Recurring software revenue from AtherStack Pro subscription add-on, which includes premium features, extended battery warranty (Eight70), and advanced connected services. Near 90% attach rate indicates strong software monetization potential.
- Battery as a Service (BaaS): Battery purchase can be separated from vehicle purchase, allowing customers to buy scooter without upfront battery cost. Reduces effective vehicle price to ₹75,999 (Rizta) or ₹84,341 (Ather 450) with separate battery rental/usage fees.
- Charging Network Access: Revenue from public fast charging network (Ather Grid) access fees and home charger (Ather Duo) sales. Free access included with BaaS for Rizta customers.
- Ather Insurance: Insurance distribution business through wholly-owned subsidiary Ather Insurance Limited, operating as corporate agent to offer and facilitate insurance policies to customers. Requires IRDAI approval before commencing operations.
- Accessories and Merchandise: Revenue from Halo smart helmets, Ather Junior helmets, vehicle accessories, and branded merchandise sold through shop.atherenergy.com and Experience Centres.
- Financing Services (Flexipay): EMI financing partnerships with multiple banks and financial institutions. Interest rates starting at 3.99% with tenure up to 5 years. Company earns referral/finance processing fees from lending partners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Ather 450S - Entry-level performance scooter |
| Unit Pricing | Pay-as-you-go | Ather 450X - Premium performance scooter |
| Unit Pricing | Pay-as-you-go | Ather 450 Apex - Flagship performance scooter |
| Unit Pricing | Pay-as-you-go | Ather Rizta S - Entry-level family scooter |
| Unit Pricing | Pay-as-you-go | Ather Rizta Z - Premium family scooter |
| Usage-based | Pay-as-you-go | Battery as a Service (BaaS) Option |
| Subscription | One time/ perpetual license | AtherStack Pro Add-on |
| Unit Pricing | Pay-as-you-go | Ather Duo Home Charger |
| Unit Pricing | Pay-as-you-go | Halo Smart Helmet |
Go-to-market motion1 record
Distribution channels8 records
Marketing channels11 records
Ather Energy product offering
Product offeringCore offering
Ather Energy designs, manufactures and sells connected electric two-wheelers in India through the Ather 450 performance series (450S, 450X, 450 Apex) and the Rizta family scooter line (Rizta S, Rizta Z). All vehicles run on AtherStack, a proprietary connected vehicle software platform, and are supported by the Ather Grid public fast charging network, Battery as a Service, financing through Flexipay, and accessories such as the Ather Halo smart helmet and Ather Duo home charger.
Product overview
Ather Energy is an Indian electric two-wheeler manufacturer offering a portfolio of connected electric scooters spanning two distinct product lines: the performance-oriented Ather 450 series (450S, 450X, 450 Apex) built for thrill-seeking riders, and the family-focused Rizta line (Rizta S, Rizta Z) designed for daily household commutes. Both product lines are powered by AtherStack, the company's proprietary connected vehicle software platform that delivers over-the-air updates, AI-powered voice control (Voice on Ather), remote diagnostics, theft alerts, and smartphone integration. The ecosystem includes the Ather Halo smart helmet, Ather Duo portable charger, and the Ather Grid public fast charging network as the infrastructure backbone. AtherStack Pro and Eight70 Warranty serve as premium add-on subscriptions. The company also operates Ather Insurance Limited as a wholly owned subsidiary for insurance distribution and offers Ather Flexipay for vehicle financing. Battery as a Service separates battery cost from vehicle purchase, reducing upfront prices. All products are manufactured at Ather's Hosur facility with a third factory under development in Maharashtra.
Differentiator
Problem solved
Functional benefit
Brands
- AtherStack: Proprietary software platform for electric scooters with connected features, over-the-air updates, and voice control capabilities
- AtherGrid
- Ather Insurance
Products and services
- Ather 450S Entry-level performance electric scooter with 90 km/h top speed, 122 km IDC range, 17.7 cm DeepView display, turn-by-turn navigation and core AtherStack connectivity features, sold to individual consumers at ₹1,35,999 ex-showroom.
- Ather 450X Premium performance electric scooter with 6.4 kW motor, 0–40 km/h in 2.9 seconds, 126 km IDC range, TFT touchscreen, Magic Twist regenerative braking, Traction Control and full AtherStack connected features, sold to individual consumers starting at ₹1,52,499 ex-showroom.
- Ather 450 Apex Flagship performance electric scooter with 157 km IDC range, Warp+ mode, 100 km/h top speed, Infinite Cruise control, premium design and access to AtherStack Pro subscription features, sold to individual consumers starting at ₹1,94,999 ex-showroom.
- Ather Rizta S Entry-level family electric scooter with 123 km IDC range, DeepView display, turn-by-turn navigation, Eco and Zip ride modes, 56L storage and standard AtherStack connectivity, sold to urban Indian families at ₹1,21,499 ex-showroom.
- Ather Rizta Z Premium family electric scooter with up to 159 km IDC range, 17.7 cm TFT touchscreen, Google Maps navigation, Voice on Ather, premium seat with backrest and full AtherStack 7 features, sold to urban Indian families starting at ₹1,36,999 ex-showroom.
- Ather Halo Smart Helmet Bluetooth-enabled smart helmet with integrated speakers and microphone for hands-free calling, music playback, ChitChat intercom pairing between riders, Auto Wear Detect and seamless integration with Voice on Ather.
- Ather Duo Home Charger Portable and wall-mount home charger that works with any standard 6A 3-pin socket, enabling personal charging at home or on the go alongside the public Ather Grid fast charging network.
- Ather Grid Fast Charging Network Public two-wheeler fast charging service with 5,900+ charging points across 379+ Indian cities, delivering up to 30 km of range in 10 minutes; open to Ather owners and compatible electric two-wheelers.
- Ather Battery as a Service (BaaS) Battery leasing service that removes battery cost from upfront vehicle pricing (Rizta from ₹75,999, Ather 450 from ₹84,341), bundled with free access to 5,900+ Ather Grid fast charging points and potential savings up to ₹45,000 over ownership.
- Ather Flexipay Financing Vehicle financing program offering zero down payment, interest rates from 3.99%, tenures up to 5 years and EMIs from ₹2,235/month for Rizta and ₹2,545/month for Ather 450 through multiple bank partners.
- Ather Assured Buyback Pre-determined resale value guarantee program that gives customers price certainty and residual value protection on their Ather scooters at specified future timepoints.
- Ather Insurance Limited Wholly owned insurance distribution subsidiary operating as a corporate agent to offer and facilitate insurance policies to Ather customers, subject to IRDAI regulatory approval.
- Ather Junior Smart Helmet Child-sized smart helmet designed for young riders, sold through the Ather accessories store as part of the Rizta family-oriented product ecosystem.
Quantifiable outcome
- Reduces fuel costs to 30-50 paise per km vs petrol costs
- +6 more outcomes
Companies that use Ather Energy
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles3 records
Ather Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability8 records
Feature12 records
Ather Energy partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core, strategic and minor.
- LEAF Consortium (Ather + Hero)coreLEAF consortium established by Hero MotoCorp and Ather Energy to build a shared fast-charging network with uniform charging standards across the Indian two-wheeler industry. Aims to standardize charging infrastructure for electric two-wheelers.
- Castrol IndiastrategicCastrol India is collaborating with Ather Energy on specialized EV fluids development for electric vehicle applications. This partnership positions Ather to leverage Castrol's lubrication expertise for enhanced EV component performance and longevity.
- Tata MotorsstrategicTata Motors collaborates with Ather Energy on specialized EV fluids development. Both companies represent leading Indian EV manufacturers working together on component technology standardization.
- Amazon (Climate Pledge Fund)minorAmazon's Climate Pledge Fund committed USD 2.65 million to renewable-powered charging hubs under JOULE network in Bengaluru, indirectly benefiting Ather's charging infrastructure ecosystem.
- Bharat Innovates 2026 (IIT Bombay)minorAther Energy selected among 120 Indian deep-tech startups to showcase at Bharat Innovates 2026 in Nice, France (June 14-16, 2026). Event organized under IIT Bombay as nodal institute, with PM Modi and President Macron presiding over inauguration.
- Bank/NBFC Financing PartnerscoreMultiple banking and financial institution partners providing EMI financing through Flexipay program. Interest rates starting at 3.99% with tenure up to 5 years. Enables zero down payment purchases at Experience Centres and online.
- Government RDI SchememinorAther Energy is finalizing participation in government's ₹1 trillion Research, Development, and Innovation (RDI) fund to access low-cost debt funding at 2-3% interest rates for developing new electric motorcycle and EL platform projects.
Scale indicators17 records
Recent moves10 records
Expansion highlights7 records
Ather Energy competitors and assessment
Company assessmentDirect peers
- Ola Electric: India's largest electric two-wheeler manufacturer; directly competes with Ather in the connected EV scooter market with the Ola S1 series. Also targeting commercial/B2B segment with electric two-wheelers for gig workers, putting it in direct competition with Ather's potential fleet expansion.
- TVS Motor Company: India's second-largest electric two-wheeler manufacturer (TVS iQube) and broader two-wheeler incumbent. Directly competes with Ather's Rizta and upcoming EL platform in the family scooter segment, with significant distribution scale advantage.
- Bajaj Auto: India's largest electric two-wheeler manufacturer (Bajaj Chetak Electric) and broader two/three-wheeler incumbent. Directly competes in the entry-level family scooter segment where Ather's EL platform is positioned.
- Hero Electric: India's early-mover electric two-wheeler manufacturer, related to Ather's largest shareholder Hero MotoCorp. Competes in entry-level and mid-range EV scooter segments with broad distribution, creating channel and brand overlap.
Emerging players
- Simple Energy: Indian EV startup with the Simple One electric scooter. Targets similar performance-oriented and tech-forward urban riders as Ather's 450 series, with comparable connected features and software-driven positioning.
- Bounce Infinity: Indian EV scooter and battery-swap startup. Competes in electric two-wheeler segment with a battery-swap model that contrasts with Ather's BaaS approach, particularly relevant for fleet and B2B use cases.
- Ampere (Greaves Cotton): Indian electric two-wheeler brand owned by Greaves Cotton. Competes in the entry-level and mid-range family scooter segment with broader distribution and lower price points, relevant to Ather's EL platform positioning.
- Okinawa Autotech: Indian electric two-wheeler manufacturer with broad low- and mid-range scooter lineup. Competes primarily in tier-2/3/4 markets where Ather is expanding its 'Middle India' presence.
Broad incumbents
- Gogoro: Global leader in electric two-wheeler battery-swapping technology, partnered with Hero MotoCorp. Represents the battery-swap model alternative to Ather's BaaS/charging network approach, with relevant technology and ecosystem overlap.
Others
- Rivian: Premium electric vehicle manufacturer with strong software-defined vehicle architecture and direct-to-consumer model. Comparable in software-first EV approach and connected vehicle platform philosophy, though serving different product categories (4-wheel EVs vs 2-wheelers).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Ather Energy social profiles
Digital presenceAther Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ather Energy leadership team
Management profileNumber of profiles
Profiles14 records
Ather Energy subsidiaries and ownership
Company hierarchySubsidiaries1 record
Ather Energy funding detail
Funding detailFunding overview
Funding rounds18 records
Investors21 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ather Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ather Energy
What does Ather Energy do?
Ather Energy designs, manufactures and sells connected electric two-wheelers in India through the Ather 450 performance series (450S, 450X, 450 Apex) and the Rizta family scooter line (Rizta S, Rizta Z). All vehicles run on AtherStack, a proprietary connected vehicle software platform, and are supported by the Ather Grid public fast charging network, Battery as a Service, financing through Flexipay, and accessories such as the Ather Halo smart helmet and Ather Duo home charger.
Is Ather Energy a public or private company?
Ather Energy is a public company. It is classified as public and is currently ipo.
When was Ather Energy founded?
Ather Energy was founded in 2013. It employs 1,001 to 5,000 people.
Where is Ather Energy based?
Ather Energy is headquartered in Bangalore, India, in the Asia region.
How does Ather Energy make money?
Seven revenue lines are on record. Electric Two-Wheeler Sales are the primary driver. The others are atherStack Software Subscriptions, battery as a Service (BaaS), charging Network Access, ather Insurance, accessories and Merchandise and financing Services (Flexipay).
Who are Ather Energy's main competitors?
Direct peers on record are Ola Electric, TVS Motor Company, Bajaj Auto and Hero Electric. Emerging players are Simple Energy, Bounce Infinity, Ampere (Greaves Cotton) and Okinawa Autotech. Gogoro is listed as a broad incumbent. Rivian is listed as an others.
Does Ather Energy have an API?
No public API is recorded for Ather Energy.
What industry is Ather Energy in?
Ather Energy's product category is Electric Two-Wheelers. Its primary akta.pro industry code is EUAFAMAB, V2G/V2H/V2B Enablement Platforms (Control, Optimization, Dispatch), with a secondary code of EUAFAMAA, Managed EV Charging Software (Residential, Fleet, Workplace). Its NAICS code is 441227 and its SIC code is 3751.