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Electric two-wheeler maker Ather Energy on Saturday said it has invested over Rs 400-500 crore to develop its latest scooter platform EL and its first mass-market e-scooter Monarc. Earlier, the company launched Monarc at a starting price of Rs 99,999 (ex-showroom Bengaluru) in three variants, S100, S125 and S160, with a host of new features, with deliveries of the vehicle commencing from September. The company also said a 200 km version of Ather S and a feature-loaded Z version with a 125 km IDC (Indian Driving Cycle) range are also in the pipeline. The EL platform added the latest features like onboard charging, AeBS and 10,000km service intervals. "This would be the largest investment to date on a new product. I would say this will be an easy Rs 400-500 crore investment between the platform and the product (or) likely more," Ather Energy co-founder and CEO Tarun Mehta told PTI at the 4th edition of Ather Community Day hosted in Bengaluru on Saturday. The latest vehicle architec
Electric two-wheeler maker Ather Energy Ltd on Monday reported narrowing of consolidated net loss at Rs 51.09 crore in the June quarter, riding on strong sales. The company had posted a consolidated net loss of Rs 178.23 crore in the corresponding period last fiscal year, Ather Energy Ltd said in a regulatory filing. Wholesales in the first quarter were at 83,173 units as compared to 46,078 units in the year-ago period, a growth of 81 per cent, the company said in an investor presentation. Total expenses in the first quarter were higher at Rs 1,310.74 crore as compared to Rs 851.14 crore in the same period a year ago, it added. Commenting on the performance, Ather Energy Co-founder & CEO, Tarun Mehta, said, "We continued to see strong demand across our portfolio, as structural tailwinds from both policy support and shifting customer sentiment translated into a massive upsurge for our products, with demand far outstripping supply." He further said, "This gives us confidence that ..