Ather Energy

Ather Energy

Key people

 said Tarun Mehta, co-founder and chief executive of Ather Energy.

cities covered

After establishing presence in Bengaluru and Chennai, electric two-wheeler startup Ather Energy is ready to scale up to more cities.

The company has been selling the scooter in Bengaluru and Chennai.

After getting a good response, it's set to drive in to 10 more cities, including, Mumbai, Delhi, Pune and Hyderabad in 2020-21. 

It is also looking to further expand to 24 cities in the next year,

it is looking at being in 10 more cities by the end of FY21, and 24 cities by FY22.

Future Sales

  plan is to sell 30,000 scooters by the end of March 2021,

Ather already have a capacity to manufacture 30,000 units and   are adding incremental 1 lakh capacity Ather has taken up in Tamil Nadu, 

focus

The company’s focus for the next two years will be on its geographic expansion than on bringing in products, though the products may get some improvements

Funding

Ather Energy is looking at raising more funds through a Series D route

The company has so far raised Rs 675 crore through various rounds of funding.

Ather Energy will be directing these funds more towards operations, expansion and sales this time, as opposed to the earlier pronounced focus on research and development,

The company has raised ₹675 crore through equity funding so far.

Ather investors

 India's largest two-wheeler company Hero MotoCorp, is among its largest investor,

Hero MotoCorpraised its stake to 35.10 per cent in 2019.

 Flipkart co-founder Sachin Bansal and private equity fund Tiger Global are also among its investors.

model

Ather recently launched the 450X scooter, a successor to the 450, its first e-scooter.

The 450X can be brought for a full payment of Rs 1.49 lakh ex-showroom for the Plus variant and Rs 1.59 lakh for the Pro model.

Ather Energy has launched two electric scooters—450 and 450X

 charging infrastructure

Ather will also expand its public charging infrastructure as it rides into new cities.

The plan is to have 200 charging points by the end of this financial year and over 1,000 points by the end of next year, he added.