While Ola Electric is preparing to debut a new line of electric motorcycles, one of its main competitors, Ather Energy, has received a fresh investment of USD 108 million from Hero MotoCorp and Singapore sovereign fund GIC. Ather, on the other hand, is more concerned with solidifying its electric scooter portfolio than with releasing new e-motorcycles.
Looking ahead, the Bengaluru-based electric car startup is building a new platform that will be modular and underlie several vehicles. The first model based on the new architecture will be released within the next eight months. Unlike Ola Electric, Ather seeks to grow its domestic range based on applications and customer needs.
Ather Energy’s New Electric Scooters
What exactly does that mean? Ather Energy currently sells electric scooters for between Rs. 1.35 lakh and Rs. 1.65 lakh (ex-showroom), and the upcoming e-portfolio will more or less target the same sweet spot, as opposed to Ola, which has diversified the new generation S1 range by offering more affordable models through the S1X series.
Ather Energy is India’s third best-selling electric two-wheeler manufacturer, with a 15% market share. The decrease in FAME subsidies did have an impact on profitability as the models became more expensive. The business just debuted the 450S, which lacks some functions but is less expensive than the 450X, and Phokela expects volume to climb by 30 to 40% with the new addition.
The company intends to introduce two new electric scooters by the conclusion of the fiscal year. Meanwhile, its dealer network will be swiftly expanded across the country in order to reach out to more clients in the coming years.
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