Ather Energy plans to raise Rs 200 -300 crore over the next year to expand to new markets and further its product development plans, reports said. Ather Energy had launched two scooters, Ather 450 and Ather 340, in June this year and had begun deliveries of Ather 450 in Bengaluru in September 2018. This launch came nearly two years after it was first unveiled in February 2016. The funds raised will also likely be used to expand its manufacturing capacity. The Bengaluru-based firm had started the commercial production of its scooters in July 2018.
“We are looking at around 5-6 months to deliver our first production lot that will about around 2,000 vehicles,” said a company spokesperson recently.
Ather Energy will make a few hardware changes to differentiate the offerings in due course of time. The company is developing a new range of electric scooters that is set to hit the markets by 2020-2021, reports said.