Ather Energy registers 353% annual growth in March 2023 for 450 Plus & 450X
Ather Energy registered a growth of 353 per cent year-on-year in March 2023 with 11,754 units sold, as against 2,591 units sold in March 2022. The electric two-wheeler maker also reported its sales for the 2022-2023 financial year with 82,146 units sold. The company though did not disclose its volumes for FY2022. Do not that Ather rolled out its 25,000th 450X e-scooter in March last year.
Ather Energy has been steadily climbing the sales charts showing robust growth month-on-month with a 17.39 per cent hike in sales when compared to 10,013 units in February this year. That said, Ather has been falling behind in sales performance when compared to other major players including Ola Electric and TVS. Ola sold over 27,000 units and over two lakh units in FY2023, as per the data released by the company in March. On the other hand, sales of the TVS iQube stood at 15,364 units during the previous month. Ather said that its sales have seen impressive growth despite a subdued first six months of FY2023.
Also Read : TVS Motor Company registers growth of 3%, iQube registers more than 15,000 units
Speaking about the strong volumes, Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, "FY23 has been phenomenal for the EV industry, with two-wheeler EVs expectedly leading the way. At Ather, we witnessed significant growth, with retail sales of 82,146 vehicles. This is despite a very soft first six months in this FY on account of chip shortage that severely limited our production volumes. We close this year strongly with 11,754 units delivered in March, a 353% year-on-year growth, and we expect this momentum to continue in FY24. We also expanded our retail footprint by 4X this year, from 30 stores to 116 now. For faster adoption of EVs, Ather set up an additional 911 public fast-charging points in FY23 and now has 1224 grids across the country, making it India’s largest fast-charging network for 2-wheelers. Last month, we also partnered with Southern Railways to set up charging stations across 10 MRTS and suburban stations in Chennai."
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The month of March also saw Ather Energy make several announcements about the company’s charging infrastructure. The company partnered with Southern Railways to set up electric vehicle charging stations across 10 Mass Rapid Transit System (MRTS) and suburban stations in Chennai. The brand is also the principal sponsor for the Gujarat Titans team in IPL 2023. Interestingly, rival Ampere sponsors the Royal Challengers Bangalore team in IPL. Lastly, Ather inaugurated eight new experience centres in March this year.
Also Read : Ola Electric sells 27,000 units in March, expands market share by 30%
Ather Energy currently retails the 450 Plus and 450X electric scooters and has been rapidly expanding its presence across the country. The company also has one of the more expansive charging networks with over 1,000 charging stations operational.