'Ather has sh*t marketing...': Zerodha co-founder Nikhil Kamath reveals why he bet on the EV firm

Zerodha co-founder and billionaire investor Nikhil Kamath has always been a big backer of homegrown talent and innovation. 

His latest move? Betting big on Ather Energy, one of India's most promising electric vehicle startups. In April, Kamath bought significant shares of Ather Energy from an existing investor, including Flipkart co-founder Sachin Bansal. 

"Patriotism is a different thing to different people, mine today seems to be to dream of young Indian products and entrepreneurs killing it inside and outside India," Kamath wrote in a post on X

He urged Indians to support local manufacturers, saying, "Let us Indians buy more Indian brands, until one day non-Indians buy Indian brands. "Every one of us has pluses and minuses, Ather has sh*t marketing but great product."

On a lighter note, Kamath recounted his personal experience with Ather, revealing that he bought an Ather scooter at full price because "Tarun (Mehta, CEO of Ather Energy) didn't even give me a discount."

Kamath's interest in Ather Energy began with his bullish outlook on the EV sector last year. He highlighted that the Indian EV market is projected to grow at a CAGR of 22.4 percent, reaching $117.78 billion by 2032. 

He also noted the government's goal of having 30 percent of all new vehicles sold in India be electric.

"Enough of the foreign franchise is better, clothes, jewelry, food, auto, content, shoes, and just about everything else. Will pick great products with terrible marketing every time, sales I hope can be solved for easier than product," Kamath stressed.