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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Amazon India has announced a partnership with Eicher Trucks and Buses, a division of VE Commercial Vehicles (VECV), to deploy around 1,000 electric trucks to support its Amazon Now ultra-fast delivery service. The deployment is scheduled to be completed by 2028.

The logistics strategy utilises the Eicher Pro-X, a compact electric truck developed by VECV specifically for high-frequency, intra-city freight movement. These vehicles will transport goods from large fulfilment hubs located on urban peripheries to a network of smaller micro-fulfilment centres (MFCs) situated within residential and commercial zones.

The Eicher Pro-X fleet will ply around 100km to 180km per vehicle, supporting multiple turnaround trips. The e-trucks are fast-charge capable to be fully charged in approximately 50 minutes. The initial rollouts are concentrated in Delhi-NCR, Bengaluru and Mumbai.

The green fleet expansion aligns with the growth of Amazon Now, which is expanding to 100 cities via a network of more than 1,000 MFCs. This infrastructure expansion covers regional hubs including Pune, Hyderabad, Chennai, Kolkata, Jaipur, Lucknow, Kochi, Mangalore and Vizag.

Abhinav Singh, VP Operations, Amazon India and Australia, said, “We have always focused on making our operations more sustainable and have steadily expanded our electric mobility efforts, with over 12,000 EVs already deployed across India. We work closely with multiple OEM partners to build solutions suited to our needs, and are integrating electric transportation more deeply as we grow. The planned deployment of around 1,000 purpose-built Volvo Eicher electric trucks is yet another step in that direction.”

SS Gill, Chief Commercial Officer, VECV, added, “The deployment of Eicher Pro X electric trucks marks a significant step forward in our commitment to sustainable mobility. What makes this even more meaningful is that the electric small truck from Eicher has been co-created in close collaboration with Amazon, with a sharp focus on addressing their specific operational needs for e-commerce and quick commerce operations. This partnership-led approach ensures that we are not only delivering electric vehicles, but also enabling efficient, reliable, and scalable logistics solutions.”

Amazon and VECV have collaborated on e-commerce transport solutions since 2022. This agreement follows an initial deployment of 50 Eicher trucks, alongside an earlier 2025 pilot involving 100 electric vehicles from multiple automotive manufacturers. Globally, Amazon India has deployed over 12,500 electric vehicles across more than 500 cities to manage middle-mile and last-mile logistics.

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Bengaluru-based electric vehicle start-up Oben Electric has announced that its new e-motorcycle – the Oben Rorr Evo – has received more than 25,000 bookings within 15 days of its launch.

The Oben Rorr Evo was launched on 30^th April at an introductory price of INR 99,999 (ex-showroom) for the first 10,000 units, which would later be hiked to INR 124,999 (ex-showroom). The deliveries for the e-motorcycle are scheduled to begin in June 2026.

The e-motorcycle features a proprietary IPMSM motor delivering a claimed peak power output of 9 kW and 250 Nm of wheel torque. The motor is IP68-rated and does not use heavy rare-earth elements. It uses a 3.4 kWh Lithium Iron Phosphate (LFP) battery providing a claimed Indian Driving Cycle (IDC) range of 180 km. The battery comes with an eight-year warranty. A zero to 40 kmph is said to happen in 3 seconds with a top speed of 110 kmph.

The Oben Rorr Evo is fast charge capable, which allows it to go from zero to 80 percent in a claimed 90 minutes.

At present, Oben Electric operates a retail network of 150 showrooms and service centres across 100 cities in 18 states, with plans to add 200 showrooms by the end of FY2027.

The Rorr Evo is manufactured utilising vertical integration at the company's facility, which has an annual capacity of 100,000 motorcycles. Oben Electric designs and produces core components in-house, including the motors, vehicle control units (VCU), chargers, and software systems.

Madhumita Agrawal, Founder & CEO, Oben Electric, said, “With India actively accelerating its transition towards electric mobility, the response to the Rorr Evo shows that the shift is now extending meaningfully into the electric motorcycle category as well. Crossing 25,000 bookings in just 15 days is not merely a strong product milestone for us, but a larger consumer signal that Indian riders are now ready to adopt electric motorcycles that deliver uncompromised performance, everyday practicality and ownership confidence. We believe the electric motorcycle segment is at the forefront of India’s next EV growth wave, and with our vertically integrated manufacturing capabilities and 150+ showrooms across 18+ States, we are fully geared to deliver this demand at scale.”

The motorcycle is equipped with a five-inch colour TFT display and utilises the ARGUS connected technology platform, which supports over-the-air (OTA) updates, navigation, geo-fencing and fall detection with emergency SOS. The vehicle also features SmartIQ, an AI-powered software system designed to manage energy consumption and increase the riding range.

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American EV major Tesla has opened its fourth experience centre in India, located in the Whitefield IT hub of Bengaluru. The new facility will showcase the Model Y and the recently introduced Model Y L, a 3-row, 6-seater SUV with prices starting at INR 6.19 million for the latter EV.

The company has also established an aftersales service network in Whitefield to support vehicle owners in the region. The Model Y L is marketed as a family vehicle, featuring a maximum claimed range of 681 km (WLTP) and an acceleration time of zero to 100 kmph in 5.0 seconds. It provides up to 2,539 litres of cargo space and includes a three-row seating configuration intended to maximise interior room.

Both the Model Y and Model Y L have received 5-star safety ratings from organisations including ANCAP, NHTSA, Euro NCAP, and IIHS. The vehicles utilise Tesla’s Supercharging network, which allows the Model Y L to recover 288 km of range in 15 minutes. Tesla is also providing home charging support for customers in India to facilitate daily vehicle use.

The opening of the Whitefield centre follows Tesla's global performance trends, with the Model Y maintaining its position as a high-volume seller between 2023 and 2025.

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Kia India, one of the leading passenger vehicle manufacturers, has announced the launch of its Battery-as-a-Service (BaaS) finance program for its first ‘Made-in-India’ electric vehicle – the Carens Clavis EV.

Through a dual-loan structure supported by major financiers – including ICICI Bank, HDFC Bank, Axis Bank, Bajaj Finance and Kotak Mahindra Prime – customers can now finance the vehicle chassis and the battery through separate accounts.

The BaaS model reduces the upfront ‘sticker price’ of the Carens Clavis EV by over INR 500,000, replacing the battery cost with a usage-based rental fee.

The vehicle body can be financed for up to 60 months, while the battery component offers an extended tenure of up to 96 months.

Sunhack Park, Chief Sales Officer, Kia India, said, “Sustainability is not limited to introducing electric vehicles, but about creating a complete ecosystem. The BaaS model enables customers to experience advanced EV technology with reduced upfront acquisition costs and greater financial flexibility.”

The Carens Clavis EV, launched in 2025, recently received its MY26 update with refreshed bumpers and new alloy wheels. The Standard range offers a claimed 404 km (MIDC), while the Extended range provides a claimed 490 km on a single charge.

The EV comes with a dual-pane panoramic sunroof, Level 2 ADAS with 20 safety features, a 26.62 cm dual panoramic display and 5-star Bharat NCAP safety rating. Kia Carens Clavis EV customers also get access to the K-Charge platform via the MyKia app, connecting them to over 15,000 charging points across India.

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