Ather Energy, recognized as a pioneer in the Indian electric two-wheeler (E2W) market by the CRISIL Report, designs and develops E2Ws, battery packs, charging infrastructure, associated software, and accessories. The company manufactures its battery packs and assembles its E2Ws in-house. Founded in 2013 by Tarun Sanjay Mehta and Swapnil Babanlal Jain, Ather Energy’s primary focus is on product and technology development in India to build a comprehensive E2W ecosystem. It is a pure-play EV company, designing all its products from the ground up in India. In Fiscal Year 2024, Ather Energy sold 109,577 E2Ws, making it the third-largest player by volume in the Indian E2W market, according to the CRISIL Report.

Ather Energy’s current E2W portfolio includes two primary product lines: the Ather 450 series, targeting customers seeking performance scooters, and the Ather Rizta line, designed for customers seeking family-friendly convenience scooters. Launched in April 2024, the Ather Rizta features a spacious seat, WhatsApp notifications on the vehicle dashboard, voice commands via Alexa Skills, up to 56 liters of storage, and the introduction of traction control to the Indian E2W market, as reported by CRISIL.

The company’s E2Ws are supported by a robust product ecosystem that includes its charging infrastructure, accessories, and the Atherstack—its proprietary software that powers its products. Ather Energy pioneered the establishment of the Ather Grid, India’s first fast-charging network for two-wheelers, and the Atherstack introduced innovative, industry-first features like Over-The-Air (OTA) updates and ride statistics on the Ather app. By July 31, 2024, Atherstack offered 64 features.

Ather Energy’s technological advancements are driven by its in-house research and development (R&D) capabilities. As of March 31, 2024, the company’s R&D team consisted of 701 employees, representing 48% of its total workforce, spread across three R&D facilities in Bengaluru, India. Globally, Ather holds 291 registered trademarks, 199 registered designs, and 45 registered patents, in addition to pending applications for 11 designs, 93 trademarks, and 210 patents, as of August 31, 2024.

Ather Energy manufactures its E2Ws and battery packs at its Hosur Factory, located near Hosur, Tamil Nadu, India. As of March 31, 2024, the Hosur Factory had an annual installed capacity of 420,000 E2Ws and 379,800 battery packs. The company is expanding its production capacity with the ongoing construction of Factory 3.0 in Chhatrapati Sambhajinagar (formerly Aurangabad), Maharashtra, which will increase its total installed production capacity to 1.42 million E2Ws upon completion of phase two.

The company operates an asset-light distribution model, leveraging third-party retail partners to run its experience and service centers across India and Nepal. As of March 31, 2024, Ather had 208 experience centers and 191 service centers in India, along with three experience centers and one service center in Nepal.