Ather Energy inks MoU with Commerce Ministry to back EV startups, deepen clean mobility push
New Delhi: Electric vehicle maker Ather Energy has signed a memorandum of understanding with the Commerce Ministry to drive faster growth in clean mobility and advanced manufacturing, under the government’s push for domestic manufacturing led by the Startup Policy Forum (SPF), the government said on July 29.
The collaboration was announced shortly after Ather’s Q1 update, in a market session where the stock traded mildly higher—up nearly 1%. Since its listing in May 2025, Ather’s shares have risen close to 14%, reported Moneycontrol.
As part of the agreement, Ather will provide strategic mentorship to deep-tech startups and extend infrastructure support to emerging players across the EV value chain.
The partnership is aimed at supporting India's transition to sustainable transport by fostering a future-ready, manufacturing-driven startup ecosystem.
Ather, along with the Department for Promotion of Industry and Internal Trade (DPIIT), will also conduct innovation programmes, co-host skill development initiatives, and participate in Startup Mahakumbh to promote growth in clean mobility.
“We are happy to collaborate with DPIIT to strengthen support systems for hardware and deep-tech startups. With policy support and stronger industry participation, this initiative can help founders tackle core technology challenges and scale high-quality products from India,” said Tarun Mehta, co-founder and CEO of Ather Energy.
Sanjiv Singh, Joint Secretary at DPIIT, said the EV space in India is entering a transformative stage.
“Through this partnership with Ather Energy, we aim to catalyse the development of an enabling environment where startups can contribute meaningfully to EV manufacturing, battery innovation, and clean energy solutions,” he said.
Shweta Rajpal Kohli, President and CEO of SPF, called the tie-up a key milestone for the Build in Bharat initiative, saying it would unlock manufacturing potential through collaboration.
In the March quarter of FY25, Ather narrowed its losses to ₹234.4 crore, driven by strong demand for its Rizta family scooters. As India gradually moves away from subsidies for EVs, the focus is shifting to pricing, technology, and scale.
Earlier this year, Commerce Minister Piyush Goyal had stated that the electric mobility sector no longer needed additional incentives. “India’s electric mobility segment is ready and set to fly. There is no need for new incentives as the existing ones are sufficient to kick-start the ecosystem,” Goyal had said in January 2025.
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