Ather Energy vs Ola Electric: Which Is The Best EV Stock in India To Deliver High Returns in Long Run?

Ather Energy vs Ola Electric: Shares of Ather Energy continued their strong momentum on Wednesday, extending a six-day bull run and attracting investor attention. In contrast, Ola Electric Mobility, led by Bhavis Aggarwal, faced selling pressure on Dalal Street. The contrasting movements highlight diverging investor sentiment for the two major players in India's electric vehicle sector.

Ather Energy shares closed 1.6% higher at Rs 639 per share on BSE on Wednesday, while Ola Electric Mobility ended 2.57% lower at Rs 51.27 per share. As both companies race to expand in India's rapidly growing EV market, investors are left evaluating which stock could unlock greater long-term potential for their portfolios. Here's a detailed comparison of Ather Energy and Ola Electric share price.

Ather Energy vs Ola Electric: Share Price Trend

Ather Energy's share price has surged over 94% in three months. The company brought its initial public offering (IPO) in April and listed on the BSE and NSE on April 23. The stock hit its 52-week high mark of Rs 678.50 per share on 8 October 2025 and its 52-week low mark of Rs 287.30 apiece on 7 May 2025. Ather Energy's share price valuation has nearly doubled from its IPO price band.

Ola Electric's share price has surged over 25% in three months. But the stock price is currently trading lower than its IPO price band of Rs 76 per share. The company brought its IPO in August 2024. The stock valuation has declined over 40% since the beginning of the year (YTD).

Ather Energy Share Price Outlook

Ather Energy is in a strong volume growth phase and is accelerating its efforts towards profitability. The EV maker's current growth is supported by dealership expansion. Additionally, company may enter into another growth phase from late FY 27 which would then led by portfolio expansion and expected addition of lower price models, as highlighted HDFC Securities in its report in September.

The company scrip witnessed renewed momentum after the launch of its next-generation EL scooter platform. It is expected to enhance manufacturing efficiency and reduce component costs, noted Kalp Jain, Research Analyst, INVasset PMS, adding that the company's financial metrics remain weak despite aggressive expansion plans.

"The company has also announced plans to double its retail presence to around 700 outlets by FY26, signaling aggressive expansion across newer regions. However, financial metrics remain weak, with negative return ratios and continued losses reflecting stress on profitability. While revenue growth remains steady, limited interest coverage and persistent cash burn indicate challenges in achieving break-even in the near term. Sustained operational discipline, cost optimisation, and efficient scaling will be crucial to maintaining investor confidence and driving long-term value as competition in the electric two-wheeler segment intensifies," explained Jain.

Ola Electric Share Price Outlook

The Bhavish Aggarwal-led EV company's stock has showcased high volatility over the past few days. The company scrip witnessed recovery over the past few weeks due to favourable policy tailwinds and improved production scale.

Despite these factors, Ola Electric Mobility continues to face profitability challenges amid elevated input costs and capital intensity, as highlighted by Jain.

"Operational restructuring and workforce optimisation indicate a focus on improving efficiency, while the introduction of a rare-earth-free ferrite motor is expected to reduce dependency on costly imported materials. Despite these positives, consistent losses and weak margins remain key concerns. The near-term outlook will depend on the success of upcoming launches, improvement in cost structure, and sustained demand from the domestic EV market. A sustained move above recent highs could strengthen momentum, though valuations and execution remain critical factors to watch," Jain added.

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