People are nowadays becoming health concise. The pollution level has taken an historic reach in the recent year and in the most populated country like India, the number of fuel vehicle can be imagined and the emission they produced are one of the major causes of this pollution. So, the demand for electric vehicle is increasing day by day. And the Ather energies has already understood way ahead of time and today it holds its different market segment specially in the premium segments.
The rise of Ather energies as an electric mobility tycoon
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Ather Energy is a fledgling company that centers on crafting and vending top-tier electric two-wheelers that cater to the Indian marketplace. The company aims to transform views on electric vehicles by developing electric vehicles that deliver superb performance, require no maintenance, and incorporate intelligent features.
In October 2013, Ather kicked off its journey at the Indian Institute of Technology-Madras Research Park. Co-founders, Mehta and Swapnil Jain, who are both IIT-M alumni from the BTech & MTech batch of 2012 in engineering design, embarked on a mission to establish India’s first smart electric scooter. Prior to launching Ather, Mehta and Jain had garnered valuable professional experience during their brief tenures at Ashok Leyland and General Motors, respectively.
Ather Energy, in December 2019, entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to establish a manufacturing facility in Hosur, spanning 400,000 square feet, dedicated to the production of electric vehicles. The proposed investment for this project is approximately ₹635 crores.
In January 2020, the corporation introduced two fresh additions to its existing product lineup, namely the Ather 450X and Ather 450 Plus. The Ather 450X, an upmarket electric scooter created entirely by Ather, surpasses the Ather 450 in terms of functionalities and capabilities. With meticulous attention to detail, the Ather 450X is crafted to revolutionize the two-wheeler riding experience in India. Also read about Hyundai Motor Group Aims To Be In Top 3 EV Manufactures By 2030
The growth of Ather energies in the world of electric vehicle
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Currently, the company has produced two scooter models, namely the 450 Plus and 450X. In order to enhance its performance, the 450X received an upgrade, which enabled Ather Energy to introduce the 450X 2022 model on July 19th of the same year. Moreover, the company has established an electric vehicle charging network under the name of AtherGrid.
To enhance the ownership experience for its clientele, the organization has established its own AtherSpace experience centers. The company made a remarkable entry into the market with the launch of Ather 450 in September 2018, followed by the nationwide release of the Ather 450X on January 28, 2020. The latest variant of the 450X, known as 450X 3, was introduced on July 19, 2022.
While the company ceased the sale of new Ather 450 scooters from November 28, 2020, it has made a commitment to fill the void with its 450X and 450 Plus models, with the latter slated for imminent launch. Know more about 10 Best Small Business Ideas You Can Start Easily
It’s Distribution Area cover
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The Ather 450x has already been distributed to over 11 cities in India including Hyderabad, Chennai, Delhi, Mumbai, Pune, Bengaluru, Kochi, Kozhikode, Kolkata, Coimbatore, and Ahmedabad.
A satisfied clientele of Ather Energy acknowledges the transformative role of electric vehicles in urban transportation. They seek to possess the unique experience of owning a vehicle that has been developed from the ground up, providing an exceptional ride, and featuring intelligent technology.
Ather energies revenue
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Ather Energy has been ranked as the fourth highest-selling two-wheeler EV in India during the initial six months of 2021, with 3677 units sold. Despite not yet reaching a $1 billion valuation, the company is experiencing steady growth, operating 38 experience centers across 32 cities in India. Ather Energy aims to expand its reach further, planning to establish 150 experience centers in 100 Indian cities by the year 2023.
While Ather Energy scooters had been experiencing a consistent month-on-month increase in vehicle registrations for a few consecutive months, July presented an unusual scenario as the company witnessed a significant decrease of 66%. Comparing against the previous months of May and June 2022, Ather only managed to register 1,283 units during July, as opposed to the 3,338 and 3,829 units registered in May and June, respectively. Also read about Tata Neu: A Super App by Tata Group for Rewarding Experiences
Ather’s stupendous Growth
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Ather witnessed a significant growth in its annual revenue from Rs 48.8 crore in FY20 to Rs 79.8 crore in FY21. However, the FY22 revenue went beyond expectations with a remarkable surge of 411.9% to reach Rs 408.5 crore. The company’s revenue stream mainly resulted from the sale of its electric scooters, constituting 98% of its operating revenue. Ather’s total revenue in FY19 was Rs 11.7 crore, and it has since achieved substantial growth, with operating revenue rising from Rs 4.2 crore in 2019 to Rs 35.3 crore in the year ending March 30, 2020, after receiving backing from Hero MotoCorp.
The future objectives of Ather Energies
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Ather Energy’s CEO, Tarun Mehta, has divulged plans to enhance the scalability of the company’s new vehicle platform, which is presently under development. Although financial information remains undisclosed, Mehta suggests that the company forecasts breaking even at the 50,000 unit sales mark. However, the electric two-wheeler industry must attract additional consumers to overcome the challenge at hand. Mehta’s goal for Ather Energy is to produce 35,000 scooters this year and increase capacity to 1 million by the following year.
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