The firm is bullish about EV market after govt's push for e-mobility in Budget
Ather Energy has already received over Rs 800 crore from marquee PE players like Tiger Global, investors like Sachin and Binny Bansal, and Hero Motors, amongst others
The company is planning to set up around 6,500 charging stations with an investment of around Rs 130 crore in next four years to support the electric vehicle ecosystem
Under the current circumstances, the cost structures make it largely unviable for manufacturing electric vehicles in India
Sachin Bansal made several small investments when he was at Flipkart. Now, after stepping down, he is looking to focus on large investments
Ather has partnered with malls, cafes, restaurants, tech parks, multiplexes and gyms to open these charging stations.
Sanmina will also exclusively make Ather's charging system, battery management systems and dashboard at its state-of-the-art unit in Chennai
Smart electric scooter start up Ather Energy, backed by two-wheeler major Hero, is looking at differentiating itself in the segment with digital support through doorstep delivery of scooters and personalised support with customer mapped to a dedicated support personnel.The company is planning to raise over Rs 200 crore to support its plan to launch first vehicle by next year. The company also set a target to sell around 20,000-30,000 units in 3-4 years. The company do not intend to restrict itself to manufacturing automobiles alone in future, said senior company official.Tarun Mehta, CEO and co-founder of Ather Energy said that functional test for company's S340, which will be company's first model, is over and it gave good results. By February the company expects to start trial production and by the middle of next year the product will be in the market."We will not compete with petrol vehicles. Our target customers are those who understand and appreciate this technology and it will ..
It is setting up its own charging infrastructure and experience zones, where users can test and order a scooter.