Ather Energy Registers Its Highest Monthly Sales in October, TVS Motor, Ola Electric

Ather Energy, one of the largest electric two-wheeler companies, has recorded its highest ever monthly sales last month. The company’s retail sales have been more than 20,000 units. Ather Energy sold around 12,828 units in September. The company’s market share in this market has increased to approximately 14.3 percent.

There has been a boom in the electric vehicles (EV) market in the last month. The new Rizta electric scooter has a major share in Ather’s sales. Its contribution to the company’s total dispatches was about 70 percent. This is Ather’s first family scooter. It competes with Ola Electric’s S1 range and TVS Motor’s iQube. Rizta is getting good response in the markets of Delhi, Rajasthan, Gujarat and Maharashtra. Ather Energy plans to soon launch an initial public offering (IPO) worth around Rs 4,500 crore. It has two manufacturing units in Hosur, Tamil Nadu.

Recently Ather Energy started exporting electric scooters to Sri Lanka. In this IPO the company will sell new shares worth about Rs 31 billion. In this, shares will also be sold by the existing investors and big shareholders of the company. Hero MotoCorp, one of the big two-wheeler companies, has 37.2 percent stake in Ather Energy. However, Hero MotoCorp shares will not be sold in this IPO.

Ather Energy also plans to launch a fast charging network. Since opening its first international outlet in Nepal last year, the company has started three experience centers and seven fast charging grids there. The company has more than 200 experience centers in the country. At the end of last year, Ather Energy had achieved the figure of manufacturing two lakh electric scooters. Ather Energy’s four electric scooters are 450S, 450X, 450 Apex and Rizta. Recently the company launched the family scooter Rizta. It has a longer and wider seat than other electric scooters. Last year, the company introduced upgrades for its electric scooters. These included the AtherStack 5.0 software, which is the company’s biggest software upgrade. It claims that AtherStack 5.0 will also improve the performance of the electric scooter as it can generate maximum torque from the scooter for a longer period of time without decelerating.