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Jaipur man buys Ather electric scooter worth a lakh using ₹10 coins: See Pic

Livemint

Livemint · 1y ago

Jaipur man buys Ather electric scooter worth a lakh using ₹10 coins: See Pic

A man in Jaipur, Rajasthan, made an interesting purchase recently by buying an Ather 450 Electric Scooter worth over ₹1 lakh, completely paid in ₹10 coins. A picture shared by Ather Energy CEO Tarun Mehta showed the "new Ather owner" being handed over the keys, along with pouches filled with ₹10 coins. Ather Energy, backed by investors like GIC and Flipkart founders, is planning to list in India and has a market valuation of $739.4 million, with expectations of electric two-wheeler sales increasing to 60%-70% by 2030. A potential IPO in Mumbai is also being considered, which could value the company at about $2 billion.

Related News

Man sets e-scooter on fire at Ather outlet in Chennai, alleges poor service

Inshorts · 9m ago

Man sets e-scooter on fire at Ather outlet in Chennai, alleges poor service

A man named Parthasarathy set his ₹1.80-lakh Ather electric scooter ablaze outside the company's showroom in Chennai over poor service despite repeated complaints. A video showed a woman trying to pacify Parthasarathy, who was seen shouting next to the burnt e-scooter. He was also seen talking to police personnel, who reached the site after the incident caused a traffic jam.

EV 2W Race Heats Up: Ather Energy cuts price of 450S to take on rivals Ola Electric, TVS

Inc42 · 1y ago

EV 2W Race Heats Up: Ather Energy cuts price of 450S to take on rivals Ola Electric, TVS

Ather Energy has reduced the price of its electric scooter variant, the 450S, by INR 20,000 in order to boost sales and compete in the growing electric two-wheeler market. The entry-level scooter will now be priced at INR 1.09 Lakh in Bengaluru and INR 97,500 in Delhi. Ather is also offering a "Pro Pack" at a reduced cost, which unlocks additional features. The price cut comes as Ather faces increased competition from Ola Electric, TVS Motor, and Bajaj Auto in the electric two-wheeler space.

Electric scooter maker Ather Energy receives Sebi nod for IPO

Economic Times

Economic Times · 8m ago

Electric scooter maker Ather Energy receives Sebi nod for IPO

Ather Energy, a Bengaluru-based electric scooter maker, has received approval from India's SEBI to launch an IPO, making it the second Indian EV manufacturer to go public after Ola Electric. The IPO includes a fresh issue of shares worth Rs 3,100 crore and an offer for sale from existing shareholders. Despite financial challenges, including widened losses, Ather plans to use the proceeds for capital expenditure, R&D, debt repayment, marketing, and general corporate purposes.

Ather enters non-premium segment, will launch family scooter

Money Control

Money Control · 1y ago

Ather enters non-premium segment, will launch family scooter

Ather Energy, the electric two-wheeler manufacturer, has announced its plans to enter the non-premium scooter category by launching a family scooter. The new scooter, targeted at the mass market, is expected to be launched in April-May 2024. The company aims to offer an affordable and comfortable option for families. It will compete with TVS' IQube electric scooter and Bajaj Chetak. Ather also plans to introduce more variants of its 450X and 450S series by January 2024.

Ather Unveils Family Escooter, Forays Into Smart Helmet Segment

Inc42 · 1y ago

Ather Unveils Family Escooter, Forays Into Smart Helmet Segment

Homegrown electric vehicle manufacturer Ather has launched its new escooter, the Rizta, targeting the Indian family segment with an emphasis on comfort, safety and connected technology. The scooter is available in two models and three variants, with a starting price of INR 1.09 lakh ($1,457). CEO Tarun Mehta urged the government to extend electric vehicle subsidies to boost adoption. Ather also unveiled AtherStack 6.0, an upgrade with features including live location sharing and auto reply to calls, and introduced its smart helmet HALO range.

Ather enters unicorn lane with $71 million from govt’s NIIF

Economic Times

Economic Times · 1y ago

Ather enters unicorn lane with $71 million from govt’s NIIF

Indian electric scooter maker Ather Energy has become a unicorn following a $71 million funding round from existing investor National Investment and Infrastructure Fund (NIIF). With a valuation of $1.3 billion, Ather is the country's fourth unicorn this year and second in the mobility space. Ather's larger rival, Ola Electric, recently went public and has seen its stock rise in value. Ather plans to use the funding to expand its product offerings and manufacturing capabilities. The company holds about 9% market share in the electric scooter market in India.

Ola Electric’s Bhavish Aggarwal takes a swipe at ‘cute’ Ather Rizta ads

Economic Times

Economic Times · 1y ago

Ola Electric’s Bhavish Aggarwal takes a swipe at ‘cute’ Ather Rizta ads

Ola Electric founder, Bhavish Aggarwal, took a jab at rival Ather Energy's marketing strategy, stating that "cute ads" won't be effective in the electric vehicle (EV) segment. He suggested that EV companies focus on improving their supply chain and technology to lower product costs instead of investing heavily in marketing and sales. Ola Electric currently leads in the Indian EV scooter market, while Ather recently launched its family scooter, Rizta, to compete with Ola Electric's S1 range. Ola Electric spent Rs 61.4 crore on marketing in FY23, while Ather's advertising expenses surpassed Rs 203 crore.

Ola Electric slashes S1 X scooter prices

Economic Times

Economic Times · 1y ago

Ola Electric slashes S1 X scooter prices

Ola Electric has reduced the prices of its S1 X range of scooters in a bid to strengthen its position in the electric two-wheeler market. The 4 kWh variant of the S1 X is now priced at Rs 99,999, down from Rs 1,09,999, while the 3 kWh version is now priced at Rs 84,999, down from Rs 89,999. Ola Electric also reduced the price of the 2 kWh version of the scooter from Rs 79,999 to Rs 69,999. Deliveries of the vehicles are set to begin next week. Ola Electric's move comes shortly after rival Ather Energy launched its own scooter range, Rizta, with prices starting at Rs 1.09 lakh.

Acer enters India's electric scooter market with ebike priced at Rs 99,999

Economic Times

Economic Times · 1y ago

Acer enters India's electric scooter market with ebike priced at Rs 99,999

Taiwanese company Acer has entered India's electric scooter market by partnering with urban mobility startup Think Ebikego. Acer unveiled its first electric scooter, MUVI 125 4G, priced at Rs 99,999. The scooter can be customized for B2B use cases like hyperlocal food or grocery delivery. It qualifies for government subsidies and features swappable batteries. Acer will face competition from startups like Ola Electric and Ather Energy, along with established companies like Hero Electric and TVS. Ola Electric recently launched new scooters and plans to introduce electric bikes by 2024.

Two-wheeler EV maker Ather Energy expands into Nepal

Economic Times

Economic Times · 1y ago

Two-wheeler EV maker Ather Energy expands into Nepal

Bengaluru-based electric scooter maker Ather Energy, backed by Tiger Global, is expanding its presence into Nepal. Ather recently secured Rs 900 crore in funding from Hero MotoCorp and GIC. The company aims to strengthen its foothold in the electric vehicle market and increase its production capacity. Ather's move comes at a time when the demand for electric two-wheelers is on the rise in India.

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