Ather

About Ather Electric Scooters

Ather Energy was started in 2013 by Tarun Mehta and Swapnil Jain, both graduates of IIT Madras. Based in Bengaluru, the company is recognised for its electric scooters, including the Ather 450 series and Ather Rizta, as well as its expanding charging network, Ather Grid. With support from major investors like Hero MotoCorp and the founders of Flipkart, Ather has developed from a startup into a leading company in India’s electric vehicle market.

History and Timeline

1. 2013: Founded by Tarun Mehta and Swapnil Jain.
2. 2014: Initial funding from the government board, IIT Madras, and Flipkart founders.
3. 2016: Unveiled first scooter, S340; Hero MotoCorp became a major investor.
4. 2018: Launched Ather 450, India’s first smart connected scooter; established the first experience centre and charging infrastructure.
5. 2019: Raised significant funding led by Sachin Bansal; signed an MoU for a manufacturing plant in Hosur, Tamil Nadu.
6. 2020: Launched Ather 450X and Ather 450 Plus; began production at Hosur facility.
7. 2021-22: Expanded manufacturing capacity and launched Ather 450S, furthering market reach.
8. 2024: Company went public via IPO; started building Factory 3.0 in Maharashtra.
9. 2025: Continuing rapid expansion with a new manufacturing plant and increasing market share.

Manufacturing Facilities

Ather Energy operates two primary manufacturing facilities in Hosur, Tamil Nadu:

1. One plant is dedicated to battery production.
2. One plant for vehicle assembly.

In 2024-25, Ather announced plans for a third manufacturing plant in Bidkin, Maharashtra, to produce electric two-wheelers and battery packs. This new facility is expected to reduce logistics costs, expedite deliveries, and increase annual production to over 1 million units. These plants help Ather meet the needs of its expanding product range and customer base across India.

Market Position

As of mid-2025, Ather Energy holds a significant position in the Indian electric two-wheeler market:

1. National market share of approximately 16.5% against Ola Electric’s 17.2%.
2. Market leader in South India with a 22.8% share.
3. Expanded retail presence with over 446 Experience Centres and 4,000+ fast charging stations (Ather Grid) in India and nearby countries like Nepal and Sri Lanka.
4. Rapid sales growth led by the affordable and popular Ather Rizta scooter.

Achievements

1. India’s first smart and connected electric scooters.
2. Over 341,000 electric two-wheelers were sold cumulatively by 2024.
3. More than 25 awards across design, automotive, and technology sectors.
4. Over 51 patent applications and extensive intellectual property in scooters and battery technology.
5. Raised over $300 million in multiple funding rounds from noted investors such as Hero MotoCorp, Sachin Bansal, and Tiger Global.
6. Achieved a USD 100 million revenue run rate by 2021.
7. Successful IPO in 2025 valued at approximately $2.5 billion.

Future Outlook

Ather Energy aims to expand rapidly and become a leader in India’s electric vehicle market.

1. Increasing production capacity to 1.42 million units annually with Factory 3.0 operational by mid-2026.
2. Developing new product platforms, including the EL platform for scooters and the Zenith platform for mid-segment motorcycles.
3. Investing in cost-reducing technologies such as lithium iron phosphate (LFP) batteries and rare-earth-free motors.
4. Enhancing the interoperability and expansion of Ather Grid’s nationwide charging infrastructure.
5. Pursuing international growth beyond India into markets such as Nepal and Sri Lanka.
6. Improving profitability by innovating and optimising supply chains.
7. Ather expects its earnings to grow by 46.5% and revenue to increase by 27% each year over the next several years. However, some early losses are likely as the company scales up its operations.

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