Discover How India's Ather Is Unveiling Fresh E-Scooter Designs and Going Global Despite Reduced Subsidies

BENGALURU, Sept 18 - Exciting times ahead for Ather Energy, the prominent electric scooter manufacturer from India! The company's chief shared ambitious plans with us, hinting at a faster rollout of newer models locally and exploring potential markets overseas. This zeal for expansion comes after the Indian government unexpectedly cut back on vehicle subsidies.

Though India's e-scooter landscape is still in its infancy, it shows promise. Electric variants constituted 5% of total two-wheeler sales last fiscal year. The government has eyes on that number soaring to 70% by 2030. However, a sudden shift in May saw the government trim vehicle incentives, causing a significant dip in e-scooter sales the following month.

Despite facing a temporary sales slump, Ather Energy is bouncing back with gusto! CEO Tarun Mehta revealed that they're on the brink of introducing two fresh models, with one set to debut half a year ahead of schedule.

While expressing his thoughts, Mehta mentioned, "Even though the subsidy alteration could have expedited the move to electric, we're optimistic about the future." He emphasized the company's need to speed up product rollouts and double down on innovation.

Mapping out the road ahead, Mehta unveiled Ather's global vision, aspiring to derive over half their sales from international markets by the decade's close. Currently standing as India's third leading e-scooter brand, Ather aims to diversify its offerings. A family-friendly scooter will soon complement its existing models tailored for solo riders.

With a valuation nearing $750 million, Ather is gearing up for another funding round by 2023's end. Though specifics remain under wraps, an insider hinted that the funding could echo the recent $108 million secured from stalwarts like Hero MotoCorp and Singapore's sovereign wealth fund, GIC.

In the next chapter of their growth story, Ather is all set to explore an Asian market for potential sales.

Mehta concluded with a bold forecast, "India is poised to not only dominate the global e-scooter domain but also emerge as its leading exporter."

Source : Reuters (Reporting by Aditi Shah)