Zerodha co-founder Nikhil Kamath explained his decision to invest in electic vehicle (EV) maker Ather Ener and why, despite the brand’s shortcomings in marketing its own products, he placed its bets on it because of consistent feedback from ancillary players in the EV space.
Kamath went to to describe his experience of buying an Ather Energy EV scooter last year.
“Every one of us has pluses and minuses, Ather has sh*t marketing but great product (sorry Tarun). PS: I bought this scooter at MRP, Tarun (Mehta) didn’t even give me a discount,” Kamath jokingly said in a post on Instagram and X (formerly Twitter) on Monday.
“My story with Ather Energy began when I started being bullish on the EV sector sometime last year and found interesting insights.”
(Also Read: Bengaluru groom ditches horse for electric scooter at baraat, his CEO shares how the company made it happen)
Take a look at Nikhil Kamath’s post on Instagram:
Nikhil Kamath said, “Will pick great products with terrible marketing every time, sales I hope can be solved for easier than product.”
Promoting Prime Minister Narendra Modi’s Make in India campaign, the Bengaluru-based entrepreuner emphasised on his desire to see more Indians preferring to buy Indian brands over foreign brands.
“Enough of the foreign franchise is ‘better’, clothes, jewelry, food, auto, content, shoes, and just about everything else,” Nikhil Kamath said in the social media post.
The billionaire bought a significant part of Ather Energy’s holding from Flipkart cofounder Sachin Bansal, the Economic Times reported in April.
With a net worth of $3.1 billion, Nikhil Kamath, 37, is among the youngest billionaires in India, according to the Forbes Billionaires List 2024. His net worth has grown from $1.1 billion in 2023 to over $3 billion in 2024.
