Fresh off its stock market debut, Ather Energy is looking to pick up speed and enter its next phase of growth on the back of the successful first phase of launch for the Rizta scooter and new products in the pipeline, chief business officer Ravneet Phokela said.

Ather became only the second EV firm in India to go public after Ola Electric, and reported a 17% year-on-year drop in Q4 FY25 losses just earlier this week. Revenue grew by nearly 30% YoY to INR 676.1 Cr, driven by higher sales volumes and improved margins.

In a post-IPO conversation, Phokela spoke about Ather Energy’s plans to scale up sales. With a market share of 13.3% in India’s EV two-wheeler segment (and 22.4% in southern India), Ather is now turning its focus towards northern India.

Ather Energy’s ambitions also extend beyond vehicles to creating an ecosystem of biking and riding products including helmets and other accessories, as well as premium software subscription. This reflects in its non-vehicle revenue as well, which rose to 12% of total revenue, up from 10% the year before.

CBO Phokela also explained Ather Energy’s logic in expanding into new product categories—all while navigating the pressures and expectations of life as a publicly listed firm.

Edited excerpts from the conversation

Inc42: With Ather Energy expanding into northern India in Q4 and most new stores opening there, what shifts do you anticipate?

Ravneet Phokela: When people talk about Ather Energy’s strength in the South, there’s often a tendency to assume it’s simply because we’re a southern brand. Sure, having a strong home market helps, but that alone doesn’t explain our position here. The deeper reason lies in how we built our portfolio.

Our first product was the 450, which you might have ridden back in 2022. This is a performance scooter, and this segment makes up about 19% of the overall scooter market.

That 19% is disproportionately concentrated in southern India and parts of eastern India. So naturally, the performance-focused product sells better in markets where customers are looking for that product

Inc42: And what about northern India?

Ravneet Phokela: In northern India, on the other hand, there is a lot more demand for family scooters, and that’s where the Rizta comes in, which only launched in July last year.

In northern........

© Inc42