• Market share targets: Ather reached an 18% national market share on 74% revenue growth, driven by a quadrupling of market share in Middle India to 17.5%, with management aiming to surpass 20% nationwide.
• Manufacturing capacity expansion: Monthly capacity at the existing facility is ramping up to 35,000 units, while a new ₹1,100 crore plant in Chhatrapati Sambhajinagar will add 40,000 to 42,000 incremental monthly units by the end of the calendar year.
• Mass-market platform launch: The company plans to enter the mass-market price band of ₹1 lakh to ₹1.25 lakh—which represents roughly half of industry volumes—by launching vehicles on its new EL platform later this year.
• Commodity cost headwinds: Elevated raw material prices over the past 6 to 8 months are expected to create short-term margin pressure, even as overall two-wheeler EV industry demand is projected to grow 30% to 40% through FY26.