Mumbai, September 01, 2025: Shares of Ola Electric and Ather Energy rose sharply in Monday’s trade, extending last week’s momentum in India’s fast-growing electric two-wheeler sector. Ola Electric climbed 12.8% to INR 60.91 on the BSE, while Ather Energy advanced 6.9% to a new all-time high of INR 481.
Rising Momentum in EV Stocks
India’s electric vehicle (EV) market has witnessed strong investor interest over the past year, driven by supportive government policies, technology innovation, and a surge in consumer adoption of two-wheeler EVs.
Ola Electric, which went public earlier this year at an IPO price of INR 76, has seen significant volatility since listing. Despite recent gains, the stock remains about 19% below its issue price.
In contrast, Ather Energy has delivered steady market performance. Since its listing, the stock has surged nearly 49% above its issue price of INR 321, underscoring investor confidence in the company’s product innovation and expansion strategy.
Ola Electric and Ather Energy Stock Surge
The rally in Ola Electric came after its new Gen3 scooter lineup secured approval under the government’s production-linked incentive (PLI) scheme last week. The certification positions Ola to benefit from incentives aimed at boosting local manufacturing and reducing EV costs.
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Key Ola Electric Q1 highlights:
- Net loss reduced sequentially to INR 428 Cr, nearly half of previous levels.
- Revenue climbed 36% quarter-on-quarter to INR 828 Cr.
- Stock gained 25% in five sessions at current market price.
For Ather Energy, the upward momentum followed the launch of its new EL platform on August 30. The company also introduced AtherStack™ 7.0, featuring:
- Voice interaction with scooters.
- Next-generation fast charging.
- Upgrades across its scooter lineup.
Additionally, Ather allotted 65.13 lakh equity shares under its ESOP 2024 plan on August 29, boosting employee participation in company growth.
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Growing EV Adoption in India
Both Ola Electric and Ather Energy also reported an increase in registrations for August, reflecting sustained demand:
- Ola Electric: 18,972 units, up 6.1% MoM.
- Ather Energy: 17,856 units, up 8.9% MoM.
These numbers highlight rising consumer adoption of two-wheeler EVs, even as competition intensifies among startups and legacy automakers. The government’s push toward electrification, combined with consumer demand for affordable mobility, continues to drive the sector’s expansion.
EV Stocks Gain Investor Confidence
Market analysts say the recent stock surge reflects a combination of policy tailwinds, improved financial performance, and product innovation.
“Certification under the PLI scheme gives Ola Electric access to cost benefits that will strengthen its margins in the medium term,” said an analyst at a Mumbai-based brokerage. “Meanwhile, Ather’s technology upgrades demonstrate its focus on maintaining a competitive edge in India’s EV space.”
Experts also noted that investor sentiment is being shaped by the broader global transition to clean mobility, with Indian EV startups seen as early beneficiaries of structural shifts in the auto industry.
EV Market Expansion Ahead
The EV two-wheeler segment is projected to grow rapidly in the coming years, with India expected to become one of the world’s largest EV markets by 2030. Analysts believe Ola Electric’s integration of in-house battery cells and Ather’s next-gen product launches will be key differentiators in the competitive landscape.
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As the sector expands beyond metros into tier-2 and tier-3 cities, both companies are expected to play a significant role in shaping India’s electric mobility ecosystem.
Disclaimer
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