The smart electric scooter start-up is also planning to expand to about 50 cities across India in the five years.
Ather Energy is eyeing to launch its scooters in global markets, including Latin America, Southeast Asia and Europe in the five years. The smart electric scooter start-up is also planning to expand to about 50 cities across India in the same period.
The Bengaluru-based company is backed by marquee investors like Flipkart’s Co-Founder Sachin Bansal, Tiger Global and Hero Motocorp. It is also looking at other business models, including rental and ride-sharing, leveraging the connectivity features in its scooters.
Tarun Mehta, Co-Founder and Chief Executive, Ather, said, “I am extremely happy with the (Budget) announcement. I don’t think I was going to ask for more. A product like this has to go global. I think as companies like ours emerge, there is more of an opportunity to go international rapidly.”
“Now the government needs to stimulate local production and supply chain. This includes incentives that help not just the original equipment manufacturers but also the supplier ecosystem. We can’t afford to get a lot of demands and have no local producers of these vehicles,” he added.