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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Jio-bp, the retail energy brand under Reliance BP Mobility and a joint venture between Reliance Industries and bp, has entered into a strategic mobility partnership with the Uttar Pradesh State Road Transport Corporation (UPSRTC) to develop dedicated electric vehicle (EV) charging infrastructure for a fleet of more than 100 public transit electric buses.

The infrastructure and fleet-charging services will be deployed through Jio-bp pulse, the joint venture's specialised electric mobility division. The rollout will be structured across six key transportation clusters intersecting intercity transit corridors between Uttar Pradesh and Delhi.

The project is scheduled to begin installation phases over the coming months to establish high-capacity, industrial-grade DC fast-charging bays at designated state transport depots and hubs. The fast-charging layouts are engineered to minimise vehicle turnaround windows and optimise operational scheduling for high-frequency public transport routing.

The interstate bus fleet initiative expands Jio-bp pulse's growing business-to-business (B2B) institutional charging portfolio.

At present, the company operates an active national footprint of more than 6,000 EV charging points distributed across 75 Indian cities, servicing commercial logistics providers, corporate car pools, public mass transit systems and passenger vehicle segments.

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Pune-headquartered electric commercial vehicle manufacturer EKA Mobility has expanded its retail presence to 60 operational dealerships across 15 states in India. The company has also confirmed that an additional 30 dedicated distribution outlets are under development.

The infrastructure expansion aims to establish localised maintenance and retail networks for the logistics, e-commerce and public transport sectors. Each retail outlet is configured specifically for commercial electric vehicles, featuring a minimum of two service bays, factory-trained technical personnel and component warehousing to manage fleet vehicle uptime. The company intends to scale its distribution footprint to more than 200 dealerships across 20 states in FY2027.

The company operates under the Government of India’s Automotive Production Linked Incentive (PLI) scheme. Its equity backers include Mitsui & Co. of Japan, the VDL Group of the Netherlands, the NIIF India-Japan Fund and Enam Holdings.

EKA Mobility operates manufacturing facilities at Koregaon Bhima and Chakan in Pune, which produce electric buses, trucks and small commercial vehicles (SCVs). The company is also building a 47-acre production complex in Pithampur. Once fully operational, the combined manufacturing infrastructure will support an annual production capacity of 15,000 electric buses, 24,000 SCVs and 4,000 freight trucks.

The manufacturer's vehicle line-up includes the EKA 3W Cargo, the EKA 6S and 3S passenger three-wheelers, a line of four-wheel SCVs spanning 1.5 to 3.5 tonnes, electric buses ranging from 7- to 12-metres and heavy-duty trucks up to 55 tonnes. All eCVs are linked to EKA Connect, an internal automated fleet management platform that processes real-time positioning, telematics and predictive battery diagnostics to manage fleet operating costs.

Rohit Srivastava, Business Head and Chief Growth Officer, EKA Mobility, said, “Last-mile connectivity is at the heart of India’s mobility transformation. With a presence across 15 states, we are steadily building a strong and accessible retail ecosystem for our customers. As demand for electric commercial vehicles grows, it is important that customers have easy access not just to products, but also to dependable service and long-term support. Looking ahead, we plan to scale our network to over 200 dealerships in 20+ states by FY27, further strengthening our reach across key markets, as we remain committed to making electric mobility more accessible, practical, and dependable for businesses across India.”

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Italian luxury automotive brand Ferrari has unveiled the Ferrari Luce, its first fully electric production vehicle, at the Vela di Calatrava – Città dello Sport in Rome. The debut marks the expansion of the manufacturer’s multi-energy strategy, positioning electrification alongside its existing internal combustion engine and hybrid powertrains.

The vehicle’s bodywork, cabin and digital interface were developed in partnership with LoveFrom, the design collective founded by Jony Ive and Marc Newson. The 5-seater, 4-door model features a glasshouse structure enclosed by floating aerodynamic wings at the front and rear.

The exterior surfaces yield a drag coefficient of 0.254, which represents the lowest figure achieved by a road-going Ferrari model. The vehicle utilises staggered wheel sizes, with 23-inch dimensions at the front and 24-inch dimensions at the rear.

The powertrain is built on an 800-volt electronic architecture and features four independent synchronous electric motors with radial flux derived from the F80 platform. The configuration yields a total output of 1,050 cv (1,035 horsepower) and 990 Nm of torque.

Ferrari claims that the vehicle achieves a zero to 100 kmph acceleration time of 2.5 seconds, a zero to 200 kmph acceleration time of 6.8 seconds and a top speed exceeding 310 kmph. Power is supplied by a 122 kWh battery pack manufactured in Maranello that functions as a structural component of the chassis and supports fast charging rates up to 350 kW, providing an estimated operating range of over 530 kilometres on the WLTP cycle.

The vehicle has a total kerb weight of 2,260 kg. To control the quad-motor system, Ferrari introduced its Vehicle Control Unit (VCU) and Side Slip Control X software, which modulate torque distribution across all four wheels 200 times per second. The vehicle incorporates an independent rear-wheel steering setup and an active suspension architecture with electronic actuators. It also features an elastically mounted rear subframe designed to manage noise, vibration, and harshness.

Inside the cabin, the layout pairs mechanical buttons, switches, and dials with digital displays developed alongside Samsung Display. The mechanical controls handle functions such as drive mode selection and climate settings. The system includes a patented acoustic feedback program that captures mechanical vibrations from the axles to generate an electronic soundscape inside and outside the vehicle based on throttle input.

Production is scheduled to begin in late 2026, with European pricing positioned at approximately EUR 550,000. Deliveries in the United States are scheduled to commence in the second quarter of 2027.

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Uber, one of India’s leading ridesharing apps, has inked a partnership with JSW Group to co-develop and deploy electric vehicles targeted for the Indian ride-hailing market.

The MoU signed between Parth Jindal of JSW Group and Dara Khosrowshahi, CEO of Uber, will see JSW Green Mobility, a wholly-owned subsidiary of JSW Group, deploy EV solutions at prices and performance expected in the cab segment in India.

The aim is to provide localised EV solutions across various categories on Uber, along with driving the adoption and utilisation of green vehicles.

Parth Jindal, said, “We are excited to collaborate with Uber to explore scalable EV mobility solutions aligned with national net-zero goals for India. By combining Uber’s platform scale and mobility insights with JSW’s growing automotive and clean mobility ambitions, we hope to contribute meaningfully to India’s EV ecosystem.”

Prabhjeet Singh, President, Uber India and South Asia, said, “India’s transition to electric mobility requires strong ecosystem partnerships across technology platforms, automakers, fleet operators, and infrastructure players. Through this collaboration with JSW Group, we aim to help accelerate the adoption of EVs on the Uber platform by exploring solutions purpose-built for the needs of Indian riders and drivers. This partnership also reflects our continued commitment to supporting the Government of India’s vision of advancing green and sustainable mobility at scale.”

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