Bengaluru-based Ather Energy is charging into the public market with an INR 29.81 billion initial public offering (IPO), marking a pivotal moment in the evolution of India’s electric mobility space. The IPO, which opens for public bidding on April 28 and closes on April 30, reflects growing confidence in India’s electric vehicle (EV) market, even as global trade dynamics remain uncertain.
Priced between INR 304 and INR 321 per equity share, Ather’s offering consists of a fresh issue worth INR 26.26 billion and an Offer for Sale (OFS) of approximately INR 3.55 billion. Early stakeholders offloading shares include co-founders Tarun Mehta and Swapnil Jain, as well as prominent institutional investors such as Caladium Investment, National Investment and Infrastructure Fund II and Hero MotoCorp-backed venture arms.

A Strategic Leap 
Founded in 2013, Ather Energy has built a reputation for innovation and quality in the Indian two-wheeler segment. Best known for its flagship 450X electric scooter and the recently launched family-oriented Rizta, Ather has maintained a premium positioning in a price-sensitive market, a feat achieved through a blend of robust design, cutting-edge tech and consistent consumer engagement.
Now, as the company seeks to raise capital for the next leg of its journey, the strategic intent behind the IPO is clear. Proceeds from the fresh issue will be used to ramp up manufacturing capacity, enhance the product portfolio, pare down debt and invest in corporate infrastructure. This expansion is crucial for Ather to retain its competitive edge against deep-pocketed rivals, including legacy automakers and well-funded start-ups.

Driving Growth
At a recent press conference, Chief Executive Officer Tarun Mehta struck an optimistic note on the state of India’s EV ecosystem. “While the entire tariff situation is open, in our opinion, the Indian consumer story, specifically the EV adoption story, remains unchallenged because it’s driven by very secular truths,” he said.
Mehta highlighted three primary factors underpinning the surge in electric two-wheeler adoption including a significantly lower total cost of ownership, greater ease of use and long-term structural shifts favouring clean mobility. These drivers provide insulation against short-term geopolitical disruptions and policy volatility.
That confidence appears to be resonating with both retail and institutional investors with many market watchers calling the IPO a barometer of the Indian EV market’s maturity.

IPO Mechanics and Market Positioning
The offering is being made under Regulation 6(2) of the SEBI ICDR Regulations via a 100 percent book-building process with shares set to list on both the BSE and the NSE. Anchor investor bidding opens on April 25, ahead of the general subscription window.
 

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Renault Group has entered into a binding agreement to assume complete control of Flexis SAS, the electric van joint venture it originally co-founded with Volvo Group and CMA CGM Group in 2024. The deal, which is contingent upon clearance from antitrust authorities, will see Renault acquire the 45 percent and 10 percent stakes currently held by Volvo Group and CMA CGM Group, respectively. This transaction is anticipated to be finalised by the middle of 2026.

The restructuring of ownership is not expected to alter the core mission or the strategic direction of the project. The venture remains dedicated to the creation of a new generation of fully electric light commercial vehicles, incorporating advanced technological features. The development timeline remains on track, with production slated to commence by the end of 2026. The initiative is built upon a robust technological foundation, including a unique skateboard platform, 800-volt motor technology and a software-defined vehicle architecture. These innovations are specifically designed to meet the evolving demands of urban logistics and support the urgent need for decarbonisation in the sector.

Renault’s teams are fully committed to advancing this ambitious undertaking. The project is a significant employer in France, engaging nearly 1,300 personnel across several key locations. These include engineering hubs in the Île-de-France region, such as the Guyancourt Technocentre and the Villiers-Saint-Frédéric Light Commercial Vehicle Center of Excellence, with the manufacturing process set to take place at the Sandouville plant in Normandy. The first model from this new range, the Renault Trafic Van E-Tech electric, is scheduled for release in late 2026.

Volvo Group, through its Renault Trucks brand, will continue its longstanding partnership with Renault by distributing these new vehicles starting in 2027. CMA CGM Group, for its part, expressed its satisfaction in having played a crucial role in nurturing the project during its foundational phase, reinforcing its commitment to supporting the energy transition.

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French automotive supplier OPmobility has been awarded a contract to supply a global Original Equipment Manufacturer (OEM) with 350V battery packs for future Hybrid Electric Vehicle (HEV) models in North America. The agreement stipulates the delivery of over 1 million battery packs over the duration of the contract.

This award marks the expansion of OPmobility’s electrification business into the passenger car segment. Previously, the company’s battery activities focused on heavy-duty mobility, including buses, trucks and trains.

The battery packs will utilise Nickel Manganese Cobalt (NMC) cell technology. OPmobility will be responsible for the engineering and delivery of the complete system, comprising: the battery case, battery cells and the Battery Management System (BMS).

To fulfil the order, the Group will extend its existing production facility in Anderson, United States.

The contract aligns with the trend toward hybridisation in the automotive industry. OPmobility currently supplies both pressurised fuel tanks and battery packs, allowing for the optimisation of energy storage across Hybrid Electric (HEV), Plug-in Hybrid Electric (PHEV) and Extended Range Electric Vehicles (EREV).

Felicie Burelle, Chief Executive Officer, OPmobility, said, "This major award reflects the trust placed in OPmobility by one of the world’s leading automotive manufacturers and key customer of the Group, and our unique and differentiating positioning to address the growing hybrid market with a competitive edge. With this contract, we strengthen the product offering of our powertrain activity with a new strategic growth lever. This is fully in line with our technological and geographical diversification strategy for all types of mobility.”

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Swedish luxury car brand Volvo Car India and ChargeZone have inaugurated an ultra-fast electric vehicle (EV) charging station on the Mumbai-Nashik Highway. The facility is located at Food Hills near Igatpuri and features a 360kW power unit equipped with two dynamic load-balancing dispensers.

This marks the first installation between the partners as part of a 2025 Memorandum of Understanding aimed at developing a charging network across national corridors. The partners intend to add further stations throughout 2026.

The EV charging station utilises an intelligent configuration for power distribution. Dynamic load balancing allows the unit to adjust power output between the two dispensers based on vehicle requirements, which reduces waiting times.

The charger can be accessed through app-based navigation and payment systems. It features dedicated bays for Volvo electric vehicles.

Jyoti Malhotra, MD, Volvo Car India, said, "As a legacy brand, Volvo Cars is committed to driving the transition towards sustainable mobility, and this partnership with ChargeZone is a testament to that vision. Together, we are ensuring that our customers not only enjoy the luxury and performance of Volvo EVs but also have access to a dependable and hassle-free charging infrastructure. The new 360kW station on the Mumbai-Nashik highway is the first step in delivering a world-class charging experience across India."

Kartikey Hariyani, Founder & CEO, ChargeZone, added, “The launch of our first co-branded 360 kW ultra-fast charging station with Volvo Car India represents an important milestone in building a premium, future ready charging network for the country. The Mumbai Nashik hub showcases our focus on high speed, technology enabled infrastructure supported by intelligent features such as dynamic power loading that significantly improve the customer experience. As EV adoption accelerates, our priority is to ensure that long-distance travel becomes fast, predictable and seamless. We look forward to supporting India’s shift toward a cleaner and more sustainable mobility landscape.”

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Maruti Suzuki India Limited has officially commenced deliveries of its first all-electric offering, the e VITARA, heralding a significant advancement in the nation's transition to sustainable transportation. The company has introduced a range of innovative ownership schemes designed to make electric vehicles more financially accessible. Chief among these is the Battery-as-a-Service (BaaS) model, a dual-loan product that removes the substantial upfront cost of the battery, with the vehicle priced from INR 1,099,000 plus a usage-based battery rental of INR 3.99 per kilometre. Complementing this is the ‘e Flex’ scheme, which allows customers to upgrade to the e VITARA while maintaining an EMI similar to their existing car. To further enhance customer confidence, Maruti Suzuki is offering assured buyback plans, guaranteeing up to 60 percent of the vehicle's value after three years or 45,000 kilometres and 50 percent after four years or 60,000 kilometres.

The e VITARA is engineered for a carefree ownership experience, backed by comprehensive warranty coverage. It is available with two battery pack options, 61kWh and 49kWh (with a claimed driving range of up to 543 kilometres, both of which come with an industry-standard warranty of eight years or up to 160,000 kilometres. The vehicle itself carries a standard three-year warranty, with the option to extend coverage up to eight years on a payable basis.

In terms of safety and technology, the e VITARA is equipped with advanced features as standard. It incorporates Level 2 Advanced Driver Assistance Systems (ADAS), which include functionalities like Adaptive Cruise Control, Lane Keep Assist and Automatic Emergency Braking. Passive safety is addressed with seven airbags, including a driver-side knee airbag, as standard equipment. The vehicle is built on the HEARTECT-e platform, which utilises over 60 percent high-tensile and ultra-high-tensile strength steel and features an advanced battery protection system. This robust construction has helped the e VITARA achieve a comprehensive five-star safety rating from Bharat NCAP. The driving experience is further enhanced by the next-generation Suzuki Connect telematics system, which offers over 60 connected features. Customers can book the e VITARA at any NEXA showroom or through the official website with an initial payment of INR 21,000.

Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India Limited, said, “Maruti Suzuki’s EV strategy has been developed to ensure that the e VITARA becomes the primary EV choice for customers. The e VITARA offers a commendable driving range of over 543 km, supported by ‘e for me’ charging ecosystem that mirrors the reliability our customers have trusted for decades. With over 1,500 EV-ready service centres, specially trained NEXA EV relationship managers and dedicated charging managers, the e VITARA offers complete peace-of-mind. We are also introducing attractive flexible ownership plans with BaaS, alongside exclusive benefits for early adopters that make the e VITARA an irresistible proposition.”

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