Tarun Mehta, co-founder and CEO of Ather Energy, used strong words while responding to a comment about Ather’s market valuation compared to Ola Electric.
see photosAther Energy co-founder and CEO Tarun Mehta can’t agree with Ola Electric’s current valuation
Ather Energy When it came to commenting on the valuation of Ather Energy vis–vis Ola Electric, co-founder and CEO Tarun Mehta did not say a word. A user questioned on social media how Ather Energy is valued with all the engineering, technology, manufacturing capability and cool intellectual property at just 1/25th of a newcomer like Ola Electric, Mehta replied that the market ” Stupid” and the evaluation will be fixed in the coming months. Mehta was responding to how the two rivals are being valued in the EV space.
it’s a stupid market
Will decide the valuation in the coming months https://t.co/m9cg0tmXqe
— Tarun Mehta (@tarunsmehta) December 6, 2021
Ather 450X electric scooter has set new benchmarks in the electric scooter segment in India.
While Ather Energy’s journey began with slow growth phases and incremental change, gradually developing technology and infrastructure for its electric scooters, Ola Electric has entered a booming market promising to disrupt the electric two-wheeler segment. entered. Ola Electric launched its much-awaited Ola S1 range of electric scooters, and managed to raise ₹1,100 crore in its two-day online purchase window. Ola also announced the construction of India’s largest two-wheeler factory, which has a final capacity of manufacturing 10 million (100 lakh) units of its electric scooter range.
Read also: Ather Energy announces second manufacturing plant in Hosur
Ather Energy, however, has taken a more modest, traditionalist approach. As a start-up started by two classmates from IIT Chennai, Ather Energy is the most profitable electric two wheeler manufacturer in India. The company recently announced its second manufacturing facility in Hosur, Tamil Nadu.
Read also: Ather Energy aims to expand to over 100 cities in next two years
The Ather Grid fast-charging network in cities provides convenience to Ather customers.
While Ather Energy continues to grow its pan-India footprint across segments, with new Ather Experience Centers opening almost every month, Ola Electric follows a dealership-free, online buying route. While Ather Energy has managed to build brand equity through word-of-mouth promotions, traditional marketing and a product that offers a great alternative to a traditional petrol-powered scooter, Ola Electric is mostly banking on the hype. has been
Read also: Ola electric scooter deliveries will start from December 15
0 notes
The deliveries of the Ola S1 electric scooter have been postponed time and again, and even test rides are offered only to those who have already pre-booked the Ola electric scooter. Obviously, valuation of the market is one thing, and presence on the ground, technology and product is another thing entirely. While Ola Electric is grappling with production and delivery, Ather Energy is certainly, and will certainly be, present across India as well as strengthening and expanding its charging network.
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