Ather Energy, an electric motorcycle manufacturer, announced on Saturday that it has invested over 400–500 crore rupees in creating its newest EL platform and the first mass-market electric scooter, Konarc.
Previously, the company introduced Konarc with a starting price of 99,999 rupees (excluding taxes in Bengaluru) in three variants: S100, S125, and S160. Delivery of these vehicles will begin in September.
Furthermore, it was stated that versions of Ather S with a range of 200 km, as well as version Z with additional features and a range of 125 km according to the Indian Driving Cycle (IDC), are under development.
Platform and Investment Details
The EL platform is equipped with the latest features, including onboard charging, AeBS, and service intervals of 10,000 km. Tarun Mehta, co-founder and CEO of Ather Energy, told PTI at the fourth Ather Community Day event held in Bengaluru on Saturday that this would be the largest investment in a new product to date. He specified that the investment in the platform and product would amount to at least 400–500 crore rupees, possibly more.
Mehta emphasized that the newest architecture was designed with an emphasis on ease of maintenance, cost reduction, charging convenience, and daily use, rather than solely chasing high performance. He noted that the investment in the platform precedes the investment in the product, and the latter requires significant capital.
The co-founder added that they initially considered this platform back in 2019 but decided to postpone its implementation, resuming work on it around 2024, which took approximately two years.
Company Positioning and Plans
The company's latest offering is positioned below its existing range, which includes the Ather 450 and Rizta series, making Konarc the most affordable electric scooter in the domestic market. Mehta explained that this investment amount pertains only to product development, as marketing and market launch expenses are additional.
He expressed optimism regarding Konark sales, particularly in North and Central India, noting that numerous feedback points from northern markets were taken into account during product design and development. In the short term, the company faces supply constraints, but increasing supply is planned for the fourth quarter of the current fiscal year.
Ather Energy is building an electric scooter manufacturing plant worth 2,000 crore rupees in the industrial city of Aurangabad (AURIC) in the Chhatrapati Sambhajinagar district of central Maharashtra. This plant will be capable of producing up to one million units of vehicles and battery packs annually.
Additionally, Ather announced True Health—a comprehensive vehicle health report and residual value assessment; the fifth generation of the Ather Bedrock battery platform; and Ather Node—a solution for residential complex charging.