Electric two-wheeler makers Ather Energy Limited and Ola Electric are taking contrasting approaches to network expansion, even as their recent financials and operating metrics diverge.
Ather on Tuesday announced that it has expanded its service network to 500 centres, nearly doubling from 277 in FY25. The company has aligned service expansion with its retail footprint. It had 600 experience centres as of December 2025 and plans to scale this to 700 by FY26.
In contrast, Ola Electric is reducing its physical retail network to around 550 stores. The company had already brought down its outlets to around 700, and this represents a further cut. Earlier, Ola had outlined plans to expand to 4,000 stores nationwide.
The divergence comes amid sharply different Q3 FY26 performances. Ather reported Rs 954 crore in revenue and cut its losses by 57% during the quarter. Meanwhile, Ola Electric reported a 55% decline in revenue to Rs 470 crore in Q3 FY26. The company reduced losses by a smaller margin through cost controls.
Monthly sales trends also highlight the gap. In February 2026, Ather recorded 20,581 vehicle registrations, which translated to an 18.43% market share and placed it among the leading EV two-wheeler makers. On the other side, Ola Electric reported 3,968 registrations in the same month, with its market share falling to 3.55%, which pushed it out of the top five players.
The latest moves reflect opposite network strategies. Ather is expanding service and retail infrastructure. Ola Electric is consolidating its store footprint from about 700 to 550 outlets, after an earlier target of a much larger network.
Recently, shares of Ola Electric hit an all-time low, with its current market cap at Rs 10,400.74 crore ($1.12 billion), whereas Ather Energy's market cap stood at Rs 27,760.51 crore ($3.00 billion).