Ola Electric, Ather Energy Boost Gross Margins, Nearing Profitability of Legacy Carmakers

Overview

Indian electric two-wheeler startups Ola Electric and Ather Energy are now reporting gross margins that are inching close to those of legacy Internal Combustion Engine (ICE) manufacturers like TVS Motor Company, Hero MotoCorp, and Bajaj Auto. While gross margins show convergence, operating margins still present a significant difference, with startups showing early positive signs and legacy players maintaining higher profitability from their established operations.