Ather enters non-premium segment, will launch family scooter

Netizens tweeted a set of spy shots of the Ather family scooter prototype with front, rear and side view.

Ather said in August that it was looking to double its market share to about 30-40 percent over the next few years with the launch of its 450S scooter in the 125cc category.

Apart from the family scooter, Mehta also said the would introduce more variants of the 450X and 450S series by January 2024.

"This new iteration is set to be the absolute pinnacle of refined performance. It will have best-in-class features that will redefine your riding experience. We’re launching in early 2024, and yes, it comes with a premium price tag, but trust me, it's worth every bit," Mehta wrote.

Ather Energy reported a consolidated operating revenue of Rs 1,784 crore, up nearly 337 percent for the financial year 2023 even as its losses mounted nearly 150 percent to Rs 864 crore.

Ather Energy’s losses were on the back of a 260 percent jump in its expenses during FY23 which were Rs 2,611 crore, according to financial data accessed by the business intelligence platform Tofler.

Ather's foray into the non-premium category comes at a time when electric vehicle sales have begun to pick up, recovering from the subsidy cut slump.

In October, electric two-wheeler (EV 2W) sales were up 17 percent from the previous month at nearly 70,248 units, with Ola Electric leading the market with the sale of 22,565 units on festival season demand, data from government website Vahan showed.

Ola Electric retained the top spot with a 31.8 percent market share, followed by TVS Motors at 22 percent, Bajaj Auto at 12 percent, Ather Energy at 11.2 percent and Greaves Electric at 5.5 percent.