- Markets Today
- Market Vista
- Equity Probe
- Equityright Blog
- Equity Edge
Ather Energy is among few of the startups from India and is the brainchild of the IIT graduates Tarun Mehta and Swapnil Jain. The company received funding from Hero MotoCorp, Tiger Global and Flipkart founder Sachin Bansal and Binny Bansal. They wanted to build electric scooters and was founded in the year 2013 but as they were funded they showcased their first electric scooter S340 on 23 February 2016 publicly at the technology conference called Surge in Bangalore. But the pre-bookings and orders began only now. The company announced two models, one was the earlier announced electric scooter S340 at Rs.1,09,750 but they also announced another model named S450 at Rs1,24,750 which came as a surprise for the audience.
In February 2016, the team showcased its first product S340. However, the original specifications of the product were much different from what could be used on a city road. Apart from the bike specifications and details that required changes, the architecture of the bike also had to change to match the actual riding experience in the city.
The S340 can accelerate at a speed of 0-40 Km in 5.1 seconds and can go up to 80kmph at a range of 75km. The product is currently priced at Rs. 1,09,750 for the early adopters and comes with the standard installation of the model with a charging cable and one-year subscription of Ather one which is the company’s plan. The S450 can accelerate at speed of 0-40 km in 3.9 seconds and can go up to 80 kmph at a range of 75 km. The S450 product is currently priced at Rs 1,24,750, and comes with a home charging point, with standard installation and a year's subscription of Ather One. The Ather scooters are connected to a mobile app, which helps the driver with a variety of things such as navigation, finding parking spots, and also finding charging points before running out of the battery.
Ather customer doesn’t have to pay for any rides since the company provides free of cost charging at the electric powering stations. Even if you charge the scooter at home, the cost will be reimbursed by the company. The owner doesn’t have to pay for its service and maintenance and all other data related things like navigation and diagnostics will be part of Ather One. They will also provide road-side assistance as well.
Competitions to the Ather Scooters
There has been a delay in implementing the Government announced “National Electric Mobility Mission Plan (NEMMP) 2020” in 2013. Earlier there were about 28 electric two-wheeler manufacturers in 2011-2012 and that number dropped to seven in 2014-15 according to a report.
When we look at the global picture there are almost all the top companies releasing their electric vehicles in the market namely BMW, Electric Motorsport, Yamaha, Harley Davidson and Lito. There is also a Japanese company named Terra Motors who started electric motors in 2015 and had announced that they will also be setting a plant in Gurgaon.
On another positive note, Gujarat-based Yo Bykes has already pioneered the electric scooter segment in India. Few other electric powered scooters include Hero RNT Diesel Hybrid Scooter, Hero Leap, Mahindra GenZe, TVS Qube and Hyosung ST-E3 EVA and therefore the competition for electric scooters is growing in India.
The only thing people are skeptical about the scooters is the wear and tear since the parts for these scooters won’t be available everywhere along with the high price of the electric scooter.