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Ather Energy will eventually be a publicly traded company, says co-founder and CEO

The end goal is for Ather Energy to become a publicly traded company, said Tarun Mehta, co-founder and CEO of Ather Energy. CNBC-TV18.

“It also makes sense given the space we are in, given the opportunity here. Business is maturing very fast. In the last financial year, our revenue grew almost 6 times to Rs 400 more crore this fiscal year we expect at least 3-5x revenue so there is huge growth ahead of us as a business we only have about 18 months so we want a little more maturity is emerging, so I can’t set a timeline for the IPO yet,” Mehta said.

The company launched the 450X Gen 3-E scooter in India, featuring a longer range, bigger battery and more feature updates over the previous model. The battery is 25% larger than the previous generation, which means the certified range is 146 km. “The true range we expect to achieve in the city is an average of 105 kilometers. Higher range was one of the main requests that customers have made to us over the past few years,” Mehta said.

He said the price of the scooter is more or less unchanged – 450+ is around Rs 2,000 to Rs 2,500 more expensive than the previous generation, while 450X is around Rs 5,000 more expensive than the previous generation. . “However, in some cities like Delhi and Ahmedabad, the difference is almost negligible considering state subsidies,” he said.

The CEO of the company said that if the company is incredibly successful by the end of the year, it will account for around 30-35% of India’s electric scooter market, but it would be 1% of India’s two- wheels. “We’re starting our journey and we don’t want to be distracted by cars or anything but scooters this year,” he said, adding that a motorbike is on the anvil. “We love this space, but we think we’re not ready for it yet,” he said.

While numerous cases of electric two-wheelers catching fire have been reported across the country, Mehta said no Ather scooter in operation has ever had a fire. “The only scooter that caught fire was a vehicle that had some components replaced by the user and the scooter had an accident where the battery was damaged and then with a complete lack of SOPs our crews threw fuel. “water on it to clean it. submerging the damaged battery under voltage with water. So, apart from this one scooter, we have never had an incident,” he said.

Speaking of lessons learned from this incident, he said: “The first was that we need much better awareness for our customers. You don’t open the fuel tanks in normal scooters and similarly the battery awareness will really be so we believe that better awareness is needed for the market, we also realize that we need better SOPs for our service stations.

The CEO of Ather Energy said the company performs around 120 to 150 tests on a battery and three to four iterations of those tests before launch. “A complete vehicle goes through more than 800 tests. Ather performs, by far, the highest number of tests in the Indian electric two-wheeler industry. We are continuing with these and strengthening them even more,” said Mehta, adding that in the 460X Gen 3 the company has focused much more on thermal management and there is a huge improvement in that regard.

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First post: STI

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