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Ather Energy aims 30% market share by end of FY24
Mint Mumbai
|August 12, 2023
Bengaluru-based Ather Energy, the third-largest electric scooter manufacturer in India at present, is looking to double its market share in the e-scooter market to 25-30% by the end of fiscal year 2024, a top company executive told Mint. The company hopes to be able to produce 20,000-units each month by then.
The company is also working on a new scooter platform, and will expand its offering to segments beyond performance scooters, into the family, convenience, and value segments, where rivals such as TVS Motor Company and Ola Electric play.
Ahead of the festive season, two-wheeler makers are gearing up to launch new low-cost models, and advancing their product launch plans in response to revised FAME-II subsidies. Ather’s new 450S, positioned to compete in the 125cc performance scooter market, is its most affordable product, priced at ₹1.29 lakh ex-showroom, including the FAME-II subsidy.
This story is from the August 12, 2023 edition of Mint Mumbai.
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