SUMMARY
Ather Energy would launch a family escooter in 2024, which would be an evolution of its 450 series of escooters, CEO and cofounder Tarun Mehta said
Ather, which is one of the major two-wheeler EV manufacturers in the country, will design the new escooter to offer comfort and ample size for a family
Earlier this year, the startup raised INR 900 Cr from Hero MotoCorp and GIC through a rights issue
Ather Energy, one of India’s top two-wheeler electric vehicle (EV) manufacturers, plans to launch a ‘family scooter’ in 2024 to further strengthen its EV offerings.
Ather CEO and cofounder Tarun Mehta took to X on Wednesday (November 22) to announce the development.
“After spending a decade perfecting the Ather 450, we now believe that there’s demand for something more. So many folks love @atherenergy as a brand but want a bigger, family-oriented scooter from us. That’s why we’re gearing up to launch a family scooter in 2024,” his post read.
“It’s designed with your entire family in mind, offering comfort, ample size, and a whole lot more—all wrapped up in one fantastic package,” Mehta said.
As per his post, the new escooter will be an evolution of Ather’s 450 series of escooters.
The latest product launch announcement comes within three months after the startup raised INR 900 Cr from Hero MotoCorp and GIC through a rights issue. Mehta had then said that the fresh funds would be used to expand the startup’s product portfolio and footprint.
Founded in 2013 by Mehta and Swapnil Jain, Ather is among the top four players in the Indian two-wheeler EV market. It currently offers two escooters – Ather 450X and Ather 450S. Over the years, Ather has also built a robust charging network across the country.
The startup currently claims to have installed over 1,400 chargers across more than 99 cities, including Delhi, Bengaluru, Mumbai, Chennai, Hyderabad, and Jaipur.
Ather competes with the likes of Ola Electric, which is currently leading the electric two-wheeler market in India, TVS Motor, Bajaj Auto, Hero Electric, and Hero MotoCorp.
Ather’s total vehicle registrations in 2023 stand at 94,624 units so far as against 51,184 units in the entire 2022, as per Vahan data.
With the rising adoption of EVs in the country, most EV players are strengthening their offerings. Several new players have also entered the market in the recent past, with River being the most recent to do so.
IPO-bound Ola Electric plans to launch multiple two-wheelers across scooter and motorcycle segments in the coming months and years. Meanwhile, TVS launched an INR 2.5 Lakh EV, TVS X, in August, which is currently the most expensive escooter in the Indian market.
Most recently, Bengaluru-based Orxa Energies launched its electric motorcycle, Mantis, this week and will begin its deliveries in 2024.
