• Ather Energy to launch a wholly owned insurance subsidiary with an initial investment of Rs 8 crore and plans to scale operations.
• Q2 revenue rises to Rs 899 crore, up from Rs 583 crore in the same quarter last year.
• Net losses shrink by 20 percent to Rs 157 crore, compared to Rs 197 crore in Q2 FY25.

Electric two-wheeler maker Ather Energy is stepping into the auto insurance business by setting up a wholly owned subsidiary to operate as a corporate agent. The company plans to streamline insurance offerings, simplify renewals, and work with multiple partners to enhance the customer experience. The subsidiary is yet to be incorporated and is awaiting approvals from the Registrar of Companies (RoC) and IRDAI.

Ather will initially invest Rs 8 crore in the venture, with further investments expected as operations grow. By managing insurance distribution in-house, the company aims to introduce EV-specific insurance products and improve insurance attach rates, creating a recurring revenue stream alongside its core EV business.

Despite a month-on-month decline in sales, with registrations dropping 30 percent from October to 20,018 units in November, Ather retained its third position in the EV market, holding a 17.43 percent market share according to Vahan data.

The company’s stock reacted positively to the announcement, trading over 4 percent higher at around Rs 689, giving it a market capitalization of Rs 26,271 crore ($2.9 billion).

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Financially, Ather has made strong gains this quarter. It surpassed rival Ola Electric, posting Q2 FY26 revenue of Rs 899 crore, up from Rs 583 crore in Q2 FY25, while cutting net losses by 20 percent to Rs 157 crore.

This move reflects Ather’s strategy to not just expand its EV business but also build an integrated ecosystem for its customers, combining vehicle sales with tailored insurance solutions.

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