- Ather Energy is expected to make its international debut shortly
- The Company is in the process of developing new products to capture a more significant market share in India
Ather Energy has shared its plans to establish a new manufacturing facility. The location hasn’t been decided yet, but it will be outside Tamil Nadu.
Along with the new manufacturing site, Ather Energy is in the process of developing new products to capture a more significant market share in India.
In addition to domestic expansion, Ather Energy is planning to explore the global market. Although, the company already has its footprint in India, but it is expected to make its international debut shortly.
In financial terms, Ather Energy saw its revenue from operations in FY23 grow more than fourfold, reaching Rs 1,738 crore, up from Rs 408 crore in FY22. However, the company also reported a loss of Rs 864.5 crore in FY23, compared to Rs 344.1 crore in FY22. This financial data was disclosed in the company’s annual statements submitted to the Registrar of Companies (RoC), as reported by Hindu Businessline.
Based in Bengaluru, Ather Energy is a leading player in India’s electric vehicle manufacturing sector, including other significant names like Ola Electric, Bajaj, and TVS. Collectively, these four companies hold approximately 80 per cent of the market share for electric two-wheelers in India, with Ather Energy accounting for about 13 to 15 per cent of this market share.