4 days ago
Ather Expands Stores and Capacity as Konarc Drives Growth
Ather Energy makes electric scooters and wants to sell them in many more stores.
It plans to open between 1,500 and 2,000 stores across India over the next few years.
The company has launched a new scooter called Konarc.
Konarc starts at ₹99,999 before showroom-related charges.
Ather hopes the scooter will persuade more people to choose electric scooters instead of petrol scooters.
The company plans to spend at least ₹400-500 crore developing the scooter and its platform.
Ather is also increasing its factory capacity from 35,000 to 77,000 scooters per month.
Konarc will be produced in larger numbers after the company’s new facility becomes fully operational.
Ather expects Konarc could become its biggest-selling model next year.
Ather Energy is targeting 1,500-2,000 retail stores across India over the next few years.
The company expects to invest ₹400-500 crore or more in its EL1 platform and Konarc product development.
Konarc, priced from ₹99,999 ex-showroom, is intended to attract more consumers to electric scooters.
Ather’s existing plant produces 35,000 units monthly, while its new facility will add 42,000 units.
Konarc’s contribution will be limited this financial year but could become Ather’s largest-volume model next year.
- Who
- Ather Energy and its co-founder and chief executive, Tarun Mehta.
- What
- Ather is expanding its retail network and manufacturing capacity while launching the Konarc electric scooter.
- Where
- Across India, supported by Ather’s existing and new manufacturing facilities.
- When
- Deliveries of selected Konarc S variants begin September 21; the company expects Konarc to potentially lead volumes next year.
- Why
- To scale sales, reach more customers, and encourage the shift from internal-combustion-engine scooters to electric mobility.
Key facts
- Retail target
- 1,500-2,000 stores across India over the next few years.
- Konarc starting price
- ₹99,999 ex-showroom.
- Investment
- ₹400-500 crore or more for the EL1 platform and Konarc development, excluding go-to-market and marketing costs.
- Current capacity
- 35,000 units per month at Ather’s existing plant.
- Additional capacity
- 42,000 units per month from the new facility.
- Combined capacity
- 77,000 units per month once the facilities are fully ramped up.
- Konarc features
- S and Z variants with 100km, 125km, 161km and 200km range options, plus a 10-year or 100,000km battery warranty.
Quotes
Tarun Mehta
Co-founder and chief executive of Ather Energy
“With a product like Konark, our portfolio is now wide enough to afford somewhere in the vicinity of 1,500–2,000 retail stores across the country. This is a target that we will take over the next few years.”
financialexpress.com
“This fiscal will still be small because there is limited capacity. But by next year, I would not be surprised if Konark is possibly our largest volume share.”
financialexpress.com
Sources
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