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Hero MotoCorp-backed Indian startup Ather Energy is looking to install charging stations in high-density areas like offices, malls, multiplexes, restaurants and business hubs ahead of its smart electric scooter S340 launch in 2018.
The company wants to replicate the model developed by US electric car major Tesla Inc by setting up charging infrastructure to power its electric vehicle, according to Mint.
In October 2016, Hero MotoCorp invested Rs 205 crore in the Indian startup by picking up 26-30 percent stake in the company as a part of strategic investment. Other investors in Ather Energy include Tiger Global and Flipkart's Sachin and Binny Bansal in their personal capacity.
The company was started by IIT Madras alumni in 2013.
Ather S340 is an electric scooter which can achieve a top speed of 70 kmph and can travel up to 80 km at a speed of 40 kmph. The company claim that the battery can charge up to 70-80 percent in an hour.
The biggest hurdle that the company faces now is that as per the Electricity Act, 2003, an individual or private institution are not allowed to sell electricity directly. The law stipulates that one need to have a discom licence to sell power from the state electricity regulatory commission.
The company has previously written to the Prime Minister’s Office (PMO) raising this concern and had been assured that the matter is being taken up by the concerned department.
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