Ather, which so far has competed in the performance scooter segment with its 450 range, recently launched Rizta to compete in the family scooter segment that is dominated by Ola Electric with its S1 range of scooters.
Earlier in the day, Ather cofounder and chief executive Tarun Mehta had tweeted an advertisement of the Rizta, featuring director Anurag Kashyap, which marketed an Alphonso mango colour scheme.
“I see some EV companies trying to make ‘cute’ ads in a bid to grow their stagnant sales,” Aggarwal posted on X about two hours after Mehta.
“Pro tip for them: Electric vehicles is a supply chain and manufacturing business. Save the marketing and sales ₹₹ and invest it into supply chains and tech to lower your product costs,” Aggarwal added on his post.
Ola Electric, which is bound for the public markets, accounts for roughly half of all electric scooter sales in India. The firm spent INR 13.1 crore for advertising and promotional activities in the first three months of FY24, and INR 61.4 crore for marketing in FY23, a 24% increase from the previous fiscal. Meanwhile, Ather’s advertisement expenses more than quadrupled to INR 203 crore in FY23.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
