Ather Energy Plans to Enter Electric Motorcycle Segment

Ather Energy Plans to enter into the electric motorcycle segment to cater broader electric two-wheeler market with upgraded software features. As of now, Ather’s portfolio comprises seven electric scooters- Ather 450X, Ather 450S, Ather 450 Apex to name a few.

Following Ola Electric’s suit, IPO-bound electric two-wheeler manufacturer Ather Energy is working on new platforms to foray into the electric motorcycle segment. In its draft red herring prospectus (DRHP) filed with SEBI, Ather said it plans to expand its product portfolio with the launch of new vehicles. 

“We are in the process of developing two new electric two-wheeler platforms that are expected to further improve cost structures and enable us to launch products across a range of scooter and motorcycle segments,” the startup’s DRHP read.

The startup filed its IPO papers earlier in the day and is looking to raise INR 3,100 crore via a fresh issue of shares. The public issue will also comprise an offer for sale (OFS) of up to 2.2 crore equity shares.