“At Ather, it is all about passion and purpose!” ,says Ather Energy team.
Ather Energy Pvt.Ltd. Co is building India’s first intelligent electric scooter and an electric vehicle charging network – AtherGrid.
Founded by Tarun Mehta and Swapnil Jain in 2013.
Electric vehicle company Ather Energy is headquartered at Bangalore.
Ather Energy’s Vision
Co-Founded by Tarun Mehta, Ather Energy, is sought to disrupt the Automobile Industry through its Smart-Electric Vehicles.
It is visioned to revolutionize one’s commuting experience through intelligent vehicles.
“A team of 16 was going to launch the S340 in 2015. Atleast that’s what we thought.” ~ Tarun Mehta, Co-Founder& CEO.
Ather Energy’s Leadership Pannel consists of
Founder: Swapnil Jain,
Co-Founder : Tarun Mehta , Arun and Ravneet.
Tarun Mehta; Co-Founder of Ather Energy
Born on 31st October 1989, Tarun Mehta is Co-Founder and CEO of Ather Energy.
Tarun Mehta’s Profile at AE:
“Tarun is Fundraiser, Morale Keeper and day-to-day Organisation Manager who turns into a board game wizard by night.”
USP of Ather Energy
Tarun Mehta in his recent session with IIM Ahemdabad faculty discloses the USP of ATHER ENERGY.
- He says instead of comparing its electric vehicle’s Speed , Mileage and other parameters with already established Brands EVs like Hero MotoCorp.
- They created a unique product keeping in view the present needs of customers and future expectations of customers as well!
- USP comes out to be the “The Vertical Integrated System of production.”
- By Vertical Integration , it is meant that the various components are manufactured by company’s ownself instead of getting it produced from some other vendor.
- AE adopted this strategy of Vertical Integration from great Tech Giants like; Apple.
Production Strategy Of Ather Energy
- Ather Energy has opted for only online purchase model for selling its vehicles and provides doorstep service as well!
- It has established its production unit at Whitefield , Bangalore with production capacity of 600 vehicles per week.
- There is an AtherGrid, a network for vehicle-charging , is also established in Bangalore.
- As on May 2019, it has set up around 30 charging stations in Bangalore and 7 in Chennai.
Fundings to Ather Energy
- IIT alumni , Srini V Srinivasan and Technology Development Board under Department of Science and Technology, IIT Madras, provided the initial funding of US$65,000.
- $1M was funded by Flipkart founders; Sachin and Binny Bansal as seed capital.
- For testing production and launch of product, AE recieved $12M from Tiger Global.
- To gain a stake of 32.31% in AE , Hero MotoCorp invested US$30M.
- In May 2019, AE raised $51M , in its latest round of funding.
Electric Vehicles offered
- Ather Energy is building India’s first intelligent elecrtic scooter and electric vehicle charging network~ATHERGRID!
- It manufactures only two electric scooter models: ATHER 340 and ATHER 450, out of which 450 model is more efficient one!
- Company lauched its Scooter340, at a Conference Surge in Bangalore on 23 feb,2016.
Ather450 Specifications :
- Ather450 is more efficient than the Ather340 Model.
- It is a hassle free vehicle with top speed of 80kmph and true range of 55-75km.
- It has 2.4kWh Li-ion battery and fast charging upto 80% at 1km/min.
- It is made good for bad roads with reverse gear installed in it.
- And 7”capacitive touchscreen Dashboard provides gateway to an intelligent ride experience.
- “your ride on your phone” feature provides onboard navigation.
- Charging points are available within 4km of area and with exclusive facilities of charging at home.
- Cost of ownership is around INR 1,23,230 and it also comes on rental-lease basis exlusively for Bengaluru Residents.
Ather has established its own network for charging the EV’s and one in Bengaluru and other in Chennai.
The charging points are equipped with 3-pin socket, and Ather Grid App can also be used for iOS and Android users.
Ather Space Stations
- In order to meet end-to-end customers needs and to improve their user experience, the company has its own AtherSpace Stations.
- The very first Space Station was inaugurated on June 8, 2018 at 100ft road Indiranagar, Bangalore.
Subsidy Schemes for Customers
AE aims at providing subsidy to the EV buyers.
- According to the Financial Express, AE will pass on the FAME-II Subsidy benefits to its buyers of around about INR 5000 price cut on Ather 450.
- AE has a lot more for customers , in means of more intelligent products and as well as the customer reliable and comfort products.
Growth and Valuation of Ather Energy
- Tarun claimed that , “ 96 percent of owners of the company’s electric scooters are on the Ather Community with a total count of close to 3,000″.
- Ather Energy has an equity valuation of US $400 Million.
Future Prospects of Ather Energy
- In an Interview with ” Express Drive ” , Tarun Mehta, Co- Founder of AE, provides very optimistic insights for its future prospects.
- It is expected that by 2023, Ather Energy will expand its business to 30 cities across India and with over 6,000 charging points.
- AE Currently operational in Hyderabad, Bengaluru and Chennai. The company also plans to be present in Delhi, Ahmedabad Pune and Mumbai in 2020.
- Tarun says, “The company expands its business across scooters and it will be expanding the business into bikes as well!” .
- He ponders over his idea to launch a Electric Bike in the upcoming few years And he added that the basic platform is ready and the company will focus on developing the various components.
- Ather Energy believes to penetrate 100% in Electric Automobile Industry by 2030.
– Share This Article –