To catch up to well-capitalized competitors, such as Ola Electric, Ather is spending $105 million to build a third factory that aims to produce 500,000 two-wheelers a year by March 2027. CaveatsIn the past five years, driven by state and federal incentives, electric vehicle competition turned fierce in India. Both have since zoomed past Ather, selling cheaper e-scooters and scaling faster, by leveraging their sprawling retail presence. Next stepsAs the Indian government rolls back subsidies that slashed the cost of purchasing an electric scooter, Ather plans to launch cheaper options. Momentum seems to be building—in May, Ather reported its annual sales to March 2025 were up 42 percent compared to the year prior.