Ather Energy sells 2,825 electric scooters in January
Ather Energy has announced that it has managed to record sales of 2,825 electric scooters in the month of January 2022. The Bangalore-based electric two-wheeler has registered growth of 366% over the corresponding period a year ago.
The company has recently expanded its retail footprint in January and opened new experience centres in Nagpur and Lucknow. Speaking about the sales performance, Ravneet Phokela, CBO, Ather Energy, said that the company was unable to meet the total demand mainly because of the supply chain challenges facing the industry right now. Elaborating on the company's strategic growth and the pace of retail expansion, he added that Ather is adding new experience centres in different parts of India to realize the rising demand for EVs. The company currently has 29 retail outlets and 304 fast-charging Ather Grid Points across 24 cities in India.
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Meanwhile, Ather is also working on raising funds to ramp up its annual production capacity to one million scooters over the next three years. Tarun Mehta, Ather's co-founder and chief executive, told Reuters that it has been witnessing a surge in demand and the manufacturing process is being ramped up to meet the higher demand.
Ather targets production of one million electric scooters annually. "Our plan was to not raise more capital and focus on growing the brand, but the rate of transition to electric and the pace at which the supply chain and capacities need to ramp is way faster than what we thought a year back," Mehta said.