Launching two new electric scooters, Ather Energy hopes to hold 30% of the market by 2025
By Fiscal Year 2025 (i.e., by March 2025), Ather Energy intends to expand its market share to 30% (now with two additional product launches).
Additionally, with sales of 73,036 units from January to August of this year, the business now has a 13% market share, placing it third overall. According to Autocar, Ather claims to be working on a new platform that will release a completely new product before the holiday shopping season next year, followed quickly by another model.
“We are going to introduce two strong products that are very different from the Ather 450X, which is going to remain our performance line,” Ravneet Singh Phokela, Chief Business Officer (CBO), Ather Energy, told the site.
We haven’t even scratched the surface of all the possibilities. While we are exploring entering new markets, the 450X will continue to be firmly performance-focused. Our market potential will dramatically increase as a result. We should release something in the market between Q1 and Q2 of FY2025, followed by another product a few quarters later,” Phokela said.
With the 450X, Ather seems to have connected with the market for performance electric scooters and built a solid reputation among younger electric vehicle buyers. They will need time to establish themselves in any other place, according to Ravneet Singh Phokela. According to Phokela, the performance scooter sector, in which the firm now competes, is not the industry’s biggest category for e-scooters.
“There is no reason not to anticipate a rise of at least 10% to 15% on top of our present market share as we grow into a greater section of the overall market. Our goals will likely increase as we enter a broader addressable market, Phokela remarked.
According to statistics, Ather Energy has a 75% market share in the category of high-end or performance-focused electric two-wheelers (products costing Rs 1,50,000 and above). In this sub-segment, it only has to compete with the second-generation Ola Electric S1 Pro, the TVS Motor Company iQube ST, and the recently released flagship, performance-oriented EV, TVS X, which costs Rs 250,000 and targets a limited market.
With its two next e-scooters, Ather plans to design and style them more conventionally. With the help of this strategy, it will be able to appeal to a wider group of individuals, such as families searching for an all-age, unisex scooter. Ather presently operates 150 experience centers across 100 sites, and by March 2024, it hopes to have expanded to 120 cities and 200 shops.
