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Ather Energy IPO: Loss-making EV firm promises 1,400% returns for its founders

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Ather IPO Promises Big Gains for Founders

Ather Energy’s upcoming initial public offering (IPO), which opens on April 28, is already causing ripples in the market ahead of its official launch. Hyped as losses stack up and the company tells of huge gains for founders, the electric scooter company, which has been in the red financially since launching in 2013, has piqued the interest of retail investors and market experts alike. The ₹2,981 crore IPO also comes with a fresh issue of ₹2,626 crore and an offer for sale of nearly ₹355 crore, by which, its founders — Tarun Mehta and Swapnil Jain plans to sell 19.60 lakh shares cumulatively.

The founders’ valuation jump is significant. They had their weighted average cost of acquiring the shares at just ₹21.09 per share. The IPO price band is set at ₹304 to ₹321 per share, and their holdings are likely to yield them returns of more than 1,422% at the upper end. This means a multibagger exit for the co-founders, among the highest seen in the recent startup IPOs.

For context: Founded in 2013, Ather enters one of the India’s electric two-wheeler early entry points. The first e-scooter was launched in 2018 and has achieved a solid brand presence, competing with rivals that include Ola Electric, TVS Motor and Bajaj Auto. Currently, Ather has an 11.5% market share in India’s EV two-wheeler space, making it the third largest player in the space by sales volume.

The company continues to run at a loss financially, though. According to its red herring prospectus (RHP), in FY24, Ather Energy posted a loss before tax of ₹1,059.7 crore, compared to ₹864.5 crore in FY23 and ₹344.1 crore in FY22. The top line numbers haven’t shown much of a growth potential either, with FY24 top line coming at ₹1,753.8 crore, marginally lower than ₹1,780.9 crore in FY23. The stagnant growth and persistent losses have cast doubt on its prospects for turning a profit in the near term.

Indeed the opening of losses has attracted heavy weights like Hero MotoCorp and Tiger Global as investors for the firm, which in itself is a positive vote in the future of the firm. These institutional backers seem to be betting on Ather’s long-term strategy, from its innovation-focused orientation to the expansion of its footprint. Ather plans to deploy considerable portion of its IPO proceeds to scale up production, especially at a new electric two-wheeler factory it is setting up in Maharashtra. The cash will also go toward repaying debt, which may relieve some of the financial burden the company currently has.

Since day one, the founders, Tarun Mehta and Swapnil Jain, have been the face of the brand. Ather’s vision and hard work helped it emerge as a familiar name in to space which has seen a rapid evolution in last few years. The impending financial windfall is viewed by many as a reward for taking a risk sooner and building the brand equity they’ve helped to create.

Yet investor sentiment remains to be cautious. While Ather’s backstory and growth prospects signal a compelling growth narrative, the fact the company can’t secure a break-even well after a decade of operating is a big red flag.

The company filings cakewalks around it – “Ather has incurred significant losses in the past, and we expect to continue to incur losses for the foreseeable future”, the company clearly stated. While such honesty should be appreciated, it’s also a reminder that the company is one bad quarter away from bankruptcy and the IPO was always a gamble. Yet Ather’s IPO remains to be a marker moment for the Indian EV sector.

It’s the first mainboard issue of the new financial post-Covid year and is seen as a litmus test for how the market views the EV investments. Ather is largely supported, has a strong brand value and early mover advantage in the market, and thus it is highly awaited. But now, Ather is under pressure. The IPO subscription window is open for 3 days and would end on April 30.

Ather plans to list on BSE and NSE. The company would now be demanded to satisfy shareholder expectations regarding financial performance milestones. The listing would be watched by institutional and retail investors. It would be seen as a proxy for market sentiments for the EV space which struggles with profitability.

Article By
Sourabh Gupta

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Chetak 3001: Bajaj’s Next-Gen Electric Scooter Could Be Your New Daily Ride

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Bajaj Chetak 3001 Launched

The Iconic Chetak Is Evolving—Here’s What We Know

Remember the Bajaj Chetak? If you grew up in India, chances are you’ve seen one buzzing around your neighborhood. Well, it’s back in the spotlight—this time with an electric twist. Bajaj is reportedly working on a new EV called the Chetak 3001, and if leaks are to be believed, it’s already being tested in Ladakh.

The company hasn’t officially confirmed anything yet, but the buzz is real. It looks like Bajaj is gearing up to give its popular electric scooter lineup a fresh new boost, without overcomplicating things.

Chetak 3001 Rumored Specs: Practical and Built for the City

If the whispers are true, the Chetak 3001 is going to come with a 3.1 kW motor and a 3 kWh battery—a setup that should make it ideal for urban commuting. The top speed? Around 62 km/h, which is more than enough for your daily rides to work, the market, or college.

Here’s a quick snapshot of what we might get:

  • 3.1 kW electric motor
  • 3 kWh lithium-ion battery
  • Top speed of ~62 km/h
  • Estimated range close to 100 km

In short, this scooter seems built for practicality, not racing. Perfect if you’re tired of petrol prices and just want something reliable and easy to charge.

What’s New Compared to the Current Chetak?

The current-gen Chetak is already known for being a no-nonsense, dependable electric scooter. But the 3001 version might be a little sharper, a little smarter.

Think of it as a mid-cycle update: maybe better pickup, slightly more battery efficiency, and possibly some smarter tech (without going overboard). It’s not trying to beat Ather or Ola in flashy features—it’s about keeping things simple and functional, but better.

If you’re someone who liked the original Chetak but wanted a little more “oomph,” the 3001 could be your sweet spot.

Features That Could Make It Stand Out

Now, Bajaj hasn’t said much, but based on spy shots and industry trends, the 3001 might include:

  • A refreshed digital dashboard 
  • Bluetooth connectivity 
  • Better weather protection 
  • A slight design tweak—maybe a new headlamp or side panel shape 
  • Possibly improved regenerative braking or ride modes 

Nothing wild—but enough to make a difference in your everyday experience.

Launch Timeline: When Will the Chetak 3001 Arrive?

There’s no official date, but many believe Bajaj could drop a teaser towards end of 2024, with a full launch by early 2025. Given how fast the EV space is moving, they’re probably not going to wait too long.

The EV Scooter You Can Count On?

If you’re not looking for high-end tech and just want a solid, stylish, and easy-to-maintain electric scooter, keep your eye on the Chetak 3001. It’s shaping up to be a commuter’s friend, especially for people who appreciate Bajaj’s legacy of durable rides.

This scooter might not make headlines for speed, but it might just become the EV you see everywhere on Indian roads.

 

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Sourabh Gupta

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Royal Enfield Goes Electric: Flying Flea C6 & S6 Scrambler Spotted Testing in Ladakh

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Electric scrambler motorcycle parked in the Ladakh mountains under a clear sky.

Two Silent Machines Tackle Himalayan Trails: A New Chapter for Royal Enfield

For years, Royal Enfield has been the sound of the open road—literally. That familiar thump of a Classic or a Bullet has echoed across mountain passes and city streets for decades. But now, the brand is headed in a direction many of us didn’t see coming. And it’s quiet. Very quiet.

Photos have surfaced from Ladakh showing two all-electric Royal Enfield motorcycles in testing—the Flying Flea C6 and a Scrambler-style model named S6. No camouflage, no big press release. Just two futuristic-looking bikes riding through some of India’s most unforgiving terrain.

High-Altitude Testing Means One Thing: These Aren’t Just for the City

Ladakh isn’t where you take a bike for basic testing. Thin air, steep climbs, rocky trails—this is where a machine either performs or fails. So the fact that Royal Enfield chose this location says a lot. They’re building these EVs not just for office commutes or showroom appeal, but for real riders.

The Flying Flea C6 looks nimble and light, almost like a city bike with off-road potential. The S6 Scrambler, on the other hand, is chunkier, taller, and built for people who like their rides a little wild. Both bikes keep that trademark Enfield stance—upright riding posture, long forks, and wide handlebars. If you know the RE DNA, you’ll feel it here too.

What’s missing? The sound. That thump is gone. But in its place? Instant torque, zero emissions, and a different kind of cool.

What Do We Know So Far?

Not a lot has been confirmed officially, but here’s what’s being pieced together from what we’ve seen and heard:

  • Flying Flea C6 likely pays homage to the original WWII-era RE “Flying Flea”—a lightweight bike built to be dropped from planes. Its modern EV version looks agile and compact. 
  • The S6 Scrambler is bulkier, with longer suspension travel, high-mounted fenders, and tires that scream trail-ready. 
  • Both bikes are probably built on RE’s new ‘L platform’, which has been in the works for EV-specific builds. 
  • Industry insiders say the range could sit somewhere between 120 to 150 km, depending on the model and battery spec.

No launch date has been announced yet, but a debut in late 2025 or early 2026 seems likely.

Why This Isn’t Just Another EV Launch

Plenty of two-wheeler brands have launched electric scooters and motorcycles over the last few years, but this feels different. Royal Enfield has taken its time, and that might be a good thing.

They didn’t jump in with a commuter EV just to follow the trend. Instead, they’re building bikes that are meant to be ridden hard, explored with, and taken beyond city limits. The kind of bikes Enfield riders expect, just with batteries instead of tanks.

This could be the first proper “touring-capable” electric motorcycle from a mainstream Indian brand. And once it hits the market, it might force the rest of the industry to rethink what an electric bike should be.

Seeing a Royal Enfield test an electric prototype on Ladakh’s harsh terrain is a bit surreal—but also kind of perfect. It’s the brand’s way of saying: “We’re going electric, but we’re doing it our way.”

If the Flying Flea C6 and S6 Scrambler perform anywhere near as good as they look, we’re in for something special. These bikes could be the bridge between tradition and the future, giving loyal RE fans a reason to plug in without giving up the adventure.

Stay tuned—because the next big thump from Royal Enfield might be completely silent.

 

Article By
Sourabh Gupta

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EV Sales Soar Worldwide in 2025 as China Hits Record Milestone

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Electric car charging in a sunny open parking lot, with a charging station showing 100% battery, reflecting global EV growth in 2025.

The electric vehicle (EV) industry has had a strong start to 2025, and the numbers are doing all the talking. According to the latest reports, global EV and plug-in hybrid sales jumped 24% in May compared to the same time last year.

And while overall growth is impressive, it’s China that’s truly making headlines: for the first time ever, the country’s battery electric vehicle (BEV) sales topped 1 million units in a single month. Meanwhile, total BEV deliveries globally are up 39.4% year-over-year in the first four months of 2025, clear proof that the EV shift isn’t just a trend anymore.

EV Sales Growth: A Global Picture

Across the board, the numbers show a rising appetite for electric and plug-in vehicles. While the 24% growth figure for May includes both BEVs and plug-in hybrids, it’s battery electric vehicles that are driving the bulk of the momentum.

A few patterns are becoming clear:

  • China continues to dominate in both production and sales, offering everything from entry-level electric city cars to premium SUVs. 
  • Europe is steadily advancing, helped by strong climate regulations and buyer incentives. 
  • The U.S., while playing catch-up, is finally seeing volume growth as Tesla expands, and legacy automakers get more serious about EV offerings. 

This global mix of market push and policy pull is turning EVs into a mainstream choice in more regions than ever before.

🇨🇳 China Hits 1 Million BEV Sales in a Month

Yes, you read that right—one million battery electric vehicles sold in one country, in one month.

China’s EV ecosystem is unlike any other. Brands like BYD, Wuling, XPeng, and NIO are pumping out a wide variety of models that appeal to nearly every income group. And they’re selling fast.

Government support continues to play a huge role. Local authorities offer everything from license plate benefits to EV-only zones in cities. Combine that with expanding fast-charging access—even in rural areas—and it’s no wonder the country’s adoption rate is breaking global records.

BEV Deliveries Up 39.4% in First 4 Months

If you look at the bigger picture, it’s battery EVs, not plug-in hybrids, that are growing the fastest.

Between January and April 2025:

  • BEV deliveries rose nearly 40% compared to the same period in 2024. 
  • Plug-in hybrids also gained, though at a slower pace. 

Why the shift? For one, battery prices have dropped, making EVs more affordable. Vehicle range is better. Charging networks are expanding. And perhaps most importantly, people are now seeing EVs as smart, reliable, and increasingly stylish options.

For many, the hesitation is over.

What’s Next for the EV Market?

Looking at the rest of 2025, there’s little doubt that growth will continue. Forecasts suggest:

  • EV sales may cross 16 million units globally this year 
  • BEVs could make up 70% of all electric vehicle sales 
  • More nations are expected to set firm phase-out dates for petrol and diesel vehicles 

Car brands are also adapting quickly. More EV launches are lined up for the second half of the year, and investments in battery plants and tech upgrades are accelerating.

The shift from “early adoption” to mass market is underway.

The data doesn’t lie—EVs are going mainstream, and fast. Whether it’s China’s million-car milestone or the nearly 40% global jump in BEV deliveries, one thing is clear: the age of electric mobility isn’t coming. It’s already here.

What once felt like a futuristic idea is now something millions of people are choosing each month. And as infrastructure catches up and models become more affordable, that number is only going one way—up.

 

Article By
Sourabh Gupta

 

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