Page 6 - Ather Energy

Ola Electric to Ather Energy: EV players 'fully refund' wrongful claims

Though the defaulter companies have repaid the Rs 312.42 crore in full, only Rs 183.15 crore has actually reached the customers, the Ministry of Heavy Industries data show

Ather Energy to make international foray in Nepal with flagship model 450X

Electric two-wheeler maker Ather Energy on Monday said it is foraying into the international market. The company plans to enter the international market with the export of its flagship model, 450X, to Nepal, it said in a statement. The plans to export the 450X model comes at a time when Nepal is shifting towards more clean mobility options. A relatively smaller market as compared to its neighbours India and China, Nepal, however, presents a promising proposition for companies like Ather to understand new markets in terms of product performance and acceptability, the company said. "While we continue growing domestically, we are really excited about expanding our business footprint to international markets. We have had incredible in-bound demand from multiple markets, and Nepal is the first step in our journey of going international," Ather Energy Chief Business Officer Ravneet Phokela said.

Ather Energy planning to set up new manufacturing plant to expand capacity

Apart from this, Ather Energy is also looking at the possibility of expanding to the global markets

L&T Finance to provide up to 100% loan on Ather EV's on-road price

The amount of loan being financed will be determined based on the credit profile of the customer of Ather Energy

Policy predictability for EV adoption needed to make investments: Ather

Policy predictability is needed to make investment plans for accelerating electric mobility in the two-wheeler segment, according to electric two-wheeler maker Ather Energy Chief Business Officer Ravneet S Phokela. The company, in which Hero MotoCorp is a significant investor, expects 100 per cent electrification of the domestic two-wheeler market by 2030 even as it prepares to start exports to an India-like market in the near future. With the FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme coming to an end in March next year, Phokela said Ather is happy with the government support and the current levels of subsidy but hoped that it would be extended for another three to five years for acceleration of EV adoption. "Two requirements, extend the period of time and importantly, let there be policy predictability," he told PTI when asked about the company's wishlist for FAME III. He further said,"Unpredictability is not good for business because my busin

Ather Energy expects to turn unit-level profitable in next 2 quarters

Phokela concluded that with an annual production capacity of 420,000 units, Ather does not foresee the need for additional manufacturing capacity for the next 18 months

Ather Energy raises Rs 900 cr from Hero MotoCorp and GIC for expansion

Electric two-wheeler manufacturer will use funding to launch new products, expanding charging infra

Hero MotoCorp approves Rs 550 cr additional investment in Ather Energy

Hero MotoCorp on Monday said it will invest an additional Rs 550 crore in Ather Energy. The company's board, at its meeting held on September 4, 2023, has approved an investment of up to Rs 550 crore in the Rights issue of Ather Energy, Hero MotoCorp said in a regulatory filing. The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature, it added. Prior to the proposed investment, Hero MotoCorp's shareholding in Ather stood at 33.1 per cent, the country's largest two-wheeler said.

EV maker Ather Energy's revenue jumps 4.4 times, loss 2.5 times in FY23

The company is not expecting to achieve profitability this year due to the recent changes made by the government in the subsidy regime

Ola Electric versus Ather: How their strategies are starkly different

Bhavish Aggarwal of Ola and Tarun Mehta of Ather appear to have a lot in common, until you see the sharp strategic differences

Govt tells Ola, Hero Moto, TVS, Ather to pay customers Rs 278 cr by Nov

Move underscores Centre's resolve to ensure compliance with subsidy norms and protect interests of consumers

Ather Energy to make net profit in 24 months, plans to raise more funds

The company is raising funds to help set up a new factory and strengthen R&D

Skilling start-up Disprz gets $30 mn in Series-C funding from Lumos, others

Established in 2015, Disprz's client base includes firms like ICICI Bank, Amazon, Indian Oil, Bajaj Allianz, Ather Energy, HDFC Life, and Starbucks, among others

Ather Energy partners with BPCL to expand charging infrastructure

Electric scooter maker Ather Energy on Friday said it has partnered with Bharat Petroleum Corporation Limited (BPCL) to expand its charging network. Through the collaboration, Ather will gain access to BPCL's network of over 21,000 fuel stations across the country, facilitating the installation of Ather's public fast-charging grid. Ather already has more than 1,400 chargers across 100 cities. "Our partnership with BPCL builds the momentum even further to create a widespread, nationwide fast-charging network," Ather Energy Chief Business Officer Ravneet Phokela said in a statement. As electric vehicle adoption continues to grow, the company believes that strategic alliances like these play a crucial role in making charging infrastructure more accessible, he added.

FAME subsidy cut, subsequent price hike take e-scooter sales down 61% MoM

The dip in sales has come after electric two-wheeler manufacturers hiked the prices of their products by 15-18 per cent

iPhone maker Foxconn to start making electric vehicles in India: Report

The company is keen on setting up its plant in Maharashtra but due to some challenges, it may consider Tamil Nadu as its auto manufacturing hub

Focusing on budget-oriented buyers, Ather to launch 450S to gain mkt share

The new electric scooter is likely to miss on features like the 7-inch TFT touchscreen and auto-hold. The feature of riding modes may also be omitted to bring costs down

After Ola, three others to repay customers for 'off-board charger'

All the three electric two-wheeler manufacturers have written to the ministry of heavy industries on Wednesday expressing their willingness to repay customers

Ola Electric and Ather Energy's e-scooter prices to include the charger

The two companies are complying with a direction from the Department of Heavy Industries, which said failure to do so could result in the suspension of the subsidies they receive on each scooter

Indian electric scooter maker Ather installs over 1000 fast-charging units

The Ather Grid App allows scooter owners to locate and check the availability of the nearest charging stations in real-time