News Post

Ather Energy to manufacture electric motorcycle

Entrackr · 8d

Electric scooter manufacturer Ather Energy is set to launch its first electric motorcycle. With this, it will directly compete with its arch rival Ola Electric. “We plan to manufacture our new scooter and motorcycle platforms at Factory 3.0, with a phased expansion plan, to ensure efficient capital utilisation,” said Ather in its draft red herring prospectus (DRHP). In June, the company said that it will set up its third manufacturing unit in Maharashtra with an investment of more than Rs 2,000 crore. Ather Energy is looking to raise Rs 3,100 crore via an initial public offering (IPO). Recently, the Tarun Mehta-led firm entered into a coveted unicorn club with $71 million in funding from existing investor National Investment and Infrastructure Fund last month. ​​ Ather posted Rs 339 crore of revenue during the first quarter of the ongoing fiscal year with a net loss of Rs 183 crore in the same period, according to its internal document seen by Entrackr. In FY24, the firm reported a modest decline in its revenue which stood at Rs 1754 crore. Ola Electric, which went public last month, aims to commence the deliveries for its electric motorcycles in the first half of FY26.