Ather Energy to Expand Globally Within Next 12-15 Months.

Electric scooter manufacturer Ather Energy, currently exporting only to Nepal, is set to expand its reach to more international markets within the next 12-15 months.

“We have definite plans of taking it global. We have a lot of inbound demand. So far we have resisted the temptation to go out because the domestic opportunities are too large... we started with Nepal a few months back. We hope to add a few markets,” said Ravneet Singh Phokela, Chief Business Officer at Ather Energy, on Friday.

Potential export markets for Ather Energy include South-East Asia, Europe, and Latin America.

“We will decide where we will go. South-East Asia is a large market with huge opportunities, but it is very price-competitive. There is Europe on the other side, where there is a huge appetite for electric vehicles. Latin America is not as large as South-East Asia and not as rich as Europe. So, we have a lot of inbound demand from all these geographies... we will decide where we will go first,” Phokela explained.

Initially, the company will focus on "ease of entry" rather than "size of market" for its global expansion.

“Right now, we will optimize more on ease of entry than size of market. We don’t want to go to Europe too soon, where the cost of entry is very high,” Phokela noted. “We will open up some markets in the next 12-15 months,” he added.

Recently, the Bengaluru-based company introduced its first family scooter, Rizta. With this move, Ather Energy aims to increase its market share, targeting the family scooter market, which accounts for around 84% of the overall market.

Currently, Ather Energy holds about a nine percent market share in the sporty scooter segment, which constitutes approximately 14% of the overall market.

The company has also announced plans to establish a third manufacturing facility in Maharashtra with an investment of around ₹2,000 crore, expected to be operational in 18 months. Ather Energy currently operates two manufacturing facilities in Hosur, Tamil Nadu.

HBL