Ather Energy

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Ather Energy Pvt. Ltd.
Private
IndustryAutomotive
Founded2013; 7 years ago (2013)
FounderTarun Mehta
Swapnil Jain[1]
HeadquartersBangalore, Karnataka, India
ProductsElectric vehicles
Production output
40,000 vehicles (2019)
Websitewww.atherenergy.com/ Edit this on Wikidata
Footnotes / references
[2]

Ather Energy Pvt. Ltd. is an Indian electric vehicle company founded by Tarun Mehta and Swapnil Jain in 2013. It manufactures the electric scooter Ather 450. It has also established electric vehicle charging infrastructure Ather Grid.

History[edit]

Ather Energy was founded in 2013 by Tarun Mehta and Swapnil Jain. In early 2014, it received 4.5 million (US$63,000) from the Technology Development Board under Department of Science and Technology, IIT Madras and Srini V Srinivasan, IIT alumnus and founder of Aerospike.[3] In December 2014, Flipkart founders, Sachin Bansal and Binny Bansal invested $1 million as the seed capital.[4] Sachin Bansal and Binny Bansal expressed a positive sentiment towards the company and showed inclination towards energy-efficient vehicles. In May 2015, it received $12 million from Tiger Global for investments in development, testing, production and the launch of the vehicle.[5] On 23 February 2016, the company unveiled its smart scooter S340 at a technology conference Surge in Bangalore.[6][7] Hero MotoCorp invested 205 crore (US$29 million) in the Series B round of funding in October 2016 and gained a 32.31% stake in the company. It invested again in 2018 to the tune of 130 crore (US$18 million).[8][9]

In May 2019 Ather Energy raised an investment of $51 million in its latest round of funding, led by Sachin Bansal’s investment of $32 million. Ather Energy was one of the earliest start-up investments of Sachin Bansal when he invested $0.5 million in the firm as an Angel investor in 2014. Hero MotoCorp has converted its Convertible Debt of $19 million as a part of this round. In addition to this, InnoVen Capital has extended an $8 million venture debt.[10]

In December 2019, Ather Energy signed a MoU with Government of Tamil Nadu to set up a 400,000 sq ft (37,000 m2) manufacturing plant for electrical vehicles in Hosur. The invested amount will be around 635 crore (US$89 million)[11][12]

Production and sale[edit]

The company has announced an online-only purchase model for selling the product with doorstep service. It set up its manufacturing unit in Whitefield, Bangalore which commenced production in 2018 with capacity of 600 vehicles per week.[13][14] The company has disclosed the price of the Ather 450 to be 113,715 (US$1,600).[15] It also establishes Ather Grid, an electric vehicle charging infrastructure in cities it is present in. The company has set up over 31 fast charging points in Bengaluru and 10 charging points in Chennai as of July[16] 2019.[14]

Ather 450[edit]

Ather 450

The Ather 450 is constructed using an all-aluminium frame, comes with a 5.4 kW (7.2 BHP) Brushless DC electric motor, and a 2.4 kWh lithium-ion battery pack. The scooter can accelerate to 40 km/h in 3.9 seconds, attain a top speed of 80 km/h, and can travel 75 km on one charge in city-riding conditions (107 km in the Indian driving cycle).

The scooter features a 7-inch touchscreen dashboard, and comes with features like on-board navigation, diagnostics, all-LED lighting, auto-cancelling indicators, smartphone integration, and cloud connectivity to send and receive data from Ather's servers.

Ather Grid[edit]

AtherGrid Location

Ather has set up its own charging network, dubbed Ather Grid, in Bangalore & Chennai. These DC-fast-charging stations use Ather's proprietary charging method and connector to charge the Ather scooters at a rate of 1 km/min. The charging points are also equipped with a 3-pin socket to supply AC power to other electric vehicles that do not use Ather's connector. Other vehicle can connect to the charging point and start charging using the Ather Grid app for iOS and Android.[17]

Ather has plans to set up around 60 points in Bangalore & Chennai, and set up more Ather Grid in other cities as it expands. Ather also sets up a home charging point at customer's homes which will charge the Ather 450 to 80% in 2 hours 40 minutes and to 100% in 4 hours 18 minutes.[18]

Ather Space[edit]

Unlike most auto manufacturers in India, Ather Energy owns and operates its own Experience Centers. The company claims that this helps in maintaining end-to-end customer experience. The Experience Centers, dubbed AtherSpace, are aimed at increasing product understanding, providing customer education, and giving a first-hand experience of the product to consumers. Test rides are also provided at the Experience Centers and can be pre-booked on the company's website.

Experience Centers have components of the scooter displayed with useful information provided alongside each of them. There is also a fully built naked scooter on display to show the chassis of the scooter.

Ather currently has two Experience centers in India - One at 100-ft road Indiranagar, Bangalore and another one at Nungambakkam, Chennai.

See also[edit]

References[edit]

  1. ^ http://www.forbesindia.com/article/30-under-30-2018/tarun-mehta-swapnil-jain-electrifying-scooters/49385/1
  2. ^ "Ather Energy To Set Up New Factory, Increase Production Capacity". NDTV. Retrieved 23 December 2019.
  3. ^ "Flipkart founders invest $1 million in Ather Energy". The Hindu.
  4. ^ "Flipkart founders lead $1M investment in electric scooter startup Ather Energy". Tech Crunch.
  5. ^ "Bansals backed Ather Energy raises $12M from Tiger Global". Business Standard.
  6. ^ "Ather Energy showcases S340 India's first smart scooter at Surge 2016. FirstPost".
  7. ^ "5,000+ attendees from 72 countries on their way to SURGE". SurgeConf.
  8. ^ "Hero MotoCorp To Invest Up To ₹ 205 Crore In Ather Energy". NDTV Auto.
  9. ^ "Hero MotoCorp to refuel Ather Energy with $19 mn". VCCircle. 25 July 2018. Retrieved 30 July 2018.
  10. ^ "India's Ather Energy raises $51 million to grow its electric scooters business". TechCrunch. Retrieved 29 May 2019.
  11. ^ "Ather Energy to set up electric vehicle manufacturing facility at Hosur in TN - Times of India". The Times of India. Retrieved 23 December 2019.
  12. ^ "Ather 450 to roll out of new Hosur plant in Tamil Nadu". Autocar India. Retrieved 23 December 2019.
  13. ^ "Ather Energy mimics Tesla's model to sell its smart electric scooters". Business Standard.
  14. ^ a b Thomas, Maria. "The launch of this e-scooter is a moment of reckoning for India's EV market". Quartz. Retrieved 30 July 2018.
  15. ^ Lahiri, Diptendu. "Flipkart founder-backed Indian startup launches subsidized electric..." U.S. Retrieved 5 June 2018.
  16. ^ https://www.thehindubusinessline.com/companies/ather-energy-to-set-up-55-charging-stations-in-chennai/article27152776.ece
  17. ^ https://tech.economictimes.indiatimes.com/news/technology/ather-energy-unveils-its-charging-infrastructure-network-athergrid/64259682
  18. ^ https://www.thehindubusinessline.com/news/electric-scooter-maker-ather-energy-sets-up-charging-points-in-bengaluru-open-to-all-evs/article23953312.ece

External links[edit]