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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Chinese technology company Xiaomi EV has introduced the Sky Nomad, a series of reconfigurable SUVs designed to focus on cabin utility and occupant comfort.

While the company’s existing SU7 and YU7 series are designed for the driver, the Sky Nomad series is developed as a living space intended to adapt to different uses throughout the day, such as commuting, working from a parked vehicle or family travel.

The vehicle series is built on Xiaomi’s Kunlun Architecture, which supports a flat floor and a seating system that allows the interior to transition between driving, work and lounge configurations. The design integrates artificial intelligence and Xiaomi’s device ecosystem.

Lei Jun, Founder, Chairman and CEO, Xiaomi, said, "Our answer was to let intelligence define the space, to build a living interior that moves with you."

The Sky Nomad series is aimed at users who require a vehicle for a combination of daily commuting, family transport and work. The series was developed over three and a half years and is scheduled for launch in the Chinese mainland.

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Pune-headquartered alternative energy commercial vehicle manufacturer EKA Mobility has unveiled the EKA 9M Electric School Bus at Prawaas 5.0.

The e-bus is built on a monocoque platform and features a steel structure, with a capacity to seat 43 passengers and complies with AIS 052 standards.

EKA 9M school bus features an electronic braking system, electronic stability control and air suspension. It is available with 100 kWh or 200 kWh lithium iron phosphate (LFP) battery packs, offering a range of 180 km. The bus supports CCS2 fast charging, with a recharge time of under 1 hour and 45 minutes.

Dr Sudhir Mehta, Founder & Chairman, EKA Mobility, said, "The launch of our EKA 9M Electric School Bus reflects EKA Mobility's commitment to developing purpose-built electric mobility solutions that address the evolving needs of India's transportation ecosystem. As educational institutions increasingly embrace sustainable mobility, we are proud to introduce a next-generation school bus that combines safety, efficiency and innovation. This addition further strengthens our comprehensive commercial EV portfolio and reinforces our vision of enabling a cleaner, smarter and self-reliant future for mobility in India."

In addition to the school bus, EKA Mobility is exhibiting its EKA Coach, 12M low-entry electric bus and 3S & 6S models at Prawaas 5.0.

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Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company has announced a partnership with Indian Oil Corporation (IndianOil) to support LPG cylinder distribution using the TVS King Kargo HD vehicle range.

The initiative aims to provide commercial mobility solutions for IndianOil's network of over 13,000 LPG distributors across India. The partnership intends to improve the efficiency of last-mile deliveries while supporting the transition to sustainable mobility. By using the TVS King Kargo HD, distributors are expected to reduce operating costs and carbon emissions.

Rajat Gupta, Business Head of Commercial Mobility at TVS Motor Company, said, "At TVS Motor Company, we are focused on building mobility solutions that make everyday business more efficient and sustainable. Our partnership with IndianOil Corporation Limited brings together the strength of two trusted organisations to transform last-mile LPG cylinder distribution across the country. Through the TVS King Kargo range, we are enabling distributors with reliable, high-performance vehicles that help reduce operating costs, improve productivity, and support cleaner operations. This collaboration is another step towards making sustainable mobility practical, accessible, and impactful for businesses across India.”

V C Asokan, ED, SR & SH-TNSO, Indian Oil Corporation, said, "Indian Oil has consistently been at the forefront of delivering energy solutions that power the nation's growth while embracing sustainability. This initiative represents an important step towards modernising our LPG distribution ecosystem through sustainable mobility solutions. The induction of electric cargo vehicles will help improve fleet productivity, lower operating costs for our distributors, and contribute towards reducing carbon emissions. We believe this engagement will demonstrate how strategic industry partnerships can accelerate India's transition towards greener and more sustainable logistics."

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Fiat has introduced the Topolino to the United States market, marking the entry of Stellantis into the country's micromobility segment. The EV is available in two body styles, the Topolino and the Topolino Dolcevita, through select dealers with a manufacturer’s suggested retail price of USD 13,995, excluding destination fees.

The Topolino is a low-speed electric vehicle with a 5.4-kWh battery and a range of up to 46 miles (75 km). It has a speed of 19 mph (30.5 kmph), though owners can install a conversion kit by the end of summer 2026 to increase the speed to 25 mph (40 kmph), making it a street-legal low-speed vehicle (LSV) for roads with speed limits of 35 mph (56 kmph) or less.

Olivier Francois, CEO, Fiat, said, "Topolino represents a new chapter for the brand in the U.S. – defined not just by size, but by purpose. With Topolino, we bring a feeling, a lifestyle, a reminder that mobility can be joyful, expressive and beautifully simple. FIAT continues to stand apart by embracing its legacy in small cars, redefining mobility, and anticipating evolving customer needs. With the introduction of Topolino, FIAT brings its unmistakable Italian design and iconic character into this fast-growing segment, offering a fresh, stylish alternative that reimagines urban and neighborhood mobility."

The vehicle is part of the Stellantis FaSTLAne 2030 strategy, which focuses on providing mobility options. Fiat has also collaborated with Motori & Customs to offer customisation services for the Topolino.

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