Ather Energy co-founder and CEO, Tarun Mehta is bullish on EVs and in an interaction with ET, he said that up to 40 per cent of two-wheelers could be EVs by 2031, which is barely six years from now. Now, India is the largest two-wheeler market in the world, with the total number of two-wheelers sold in India in FY2025 was 19.61 million, which was a growth of 9.1 per cent over the previous financial year. Out of this, electric two-wheeler sales consisted of around 1.14 million units or 5.81 per cent of the total two-wheeler sales. This itself represents a growth of 21 per cent over EV two-wheeler sales in FY2024.
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Tarun Mehta, Ather Energy Co-Founder and CEO
Within scooters too, he said that a majority of them will be electric. Mehta is particularly bullish about scooters and said that scooters have been outgrowing motorcycles for a while now, which in turn led to an increase in market share and it will be the case going forward too.
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Ather's confidence in EVs is further bolstered by its new manufacturing plant in Chhatrapati Sambhaji Nagar (Aurangabad) in Maharashtra, which will cater to the two new EL and Zenith EV platforms and have an annual capacity of almost a million units, with the current Hosur plant having a capacity of 4.5 lakh units per annum.
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Both platforms will be scalable and optimised for cost. Ather claims to leverage its experience with manufacturing new scooters from scratch, in the development of these two platforms. Tarun Mehta believes that there should be more types of scooters available to Indian buyers with significant segregation within the scooter industry already in place.
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