Ather Energy to enter Sri Lanka market as part of international expansion

Ather Energy, the electric two-wheeler manufacturer, is set to expand its international footprint by entering the Sri Lankan market in the upcoming quarter through a partnership with Evolution Auto. This move is part of Ather’s broader global expansion strategy, which also includes its recent foray into Nepal announced in November 2023.

Ravneet Singh Phokela, Chief Business Officer at Ather Energy, expressed enthusiasm about this new market entry: “We are thrilled to enter the Sri Lankan market. Sri Lanka has been a key component of our global expansion plans following our successful establishment in Nepal last year. With rising petrol vehicle ownership costs and the significant economic and environmental benefits of electric vehicles, we have observed a growing preference for EVs in Sri Lanka.”

Under the agreement, Evolution Auto Pvt Ltd will serve as Ather Energy’s national distributor in Sri Lanka, overseeing sales and service operations. Additionally, Ather will work on developing a network of fast-charging infrastructure throughout the country to facilitate the adoption of electric vehicles. Evolution Auto is a joint venture involving Sensei Capital Partners, Atman Group, and Sino Lanka Private Limited.

In Nepal, Ather has already inaugurated its first Experience Centre and established three more centres along with seven fast-charging grids. In India, Ather boasts a robust retail network with 208 Experience Centres and 1,973 fast-charging points under the Ather Grid.