Ather Energy predicts EV two-wheelers could make up 40% of market by 2031

Ather Energy’s CEO and co-founder, Tarun Mehta, has made a strong forecast for the future of electric mobility in India, predicting that electric vehicles could account for as much as 40% of all two-wheeler sales by 2031.

Speaking in an interview with The Economic Times, Mehta expressed optimism about the pace of EV adoption, especially in the scooter segment.

India, which currently holds the title of the world’s largest two-wheeler market, recorded 19.61 million two-wheeler sales in FY2025, marking a 9.1% year-on-year growth. Of this, electric two-wheelers made up about 1.14 million units - roughly 5.81% of total sales - a number that reflects a 21% increase compared to FY2024.

Scooters are expected to play a pivotal role in this transition. Mehta emphasised that scooters have already been growing at a faster rate than motorcycles, and this trend is likely to continue, pushing the EV shift further in that segment.

Ather’s confidence in the EV market is underscored by its recent infrastructure expansion. The company has inaugurated a new manufacturing facility in Chhatrapati Sambhaji Nagar (Aurangabad), Maharashtra. This plant, designed to support Ather’s upcoming EL and Zenith platforms, will have an annual production capacity nearing one million units. Ather’s existing plant in Hosur, Tamil Nadu, can currently manufacture up to 4.5 lakh units a year.

Both new platforms will be scalable and cost-efficient, drawing on Ather’s experience in building EVs from the ground up. Mehta also stressed the need for more variety in electric scooters, noting that the market is already showing clear segmentation, and that diversity in product offerings will be key to meeting the growing demand.