Ather Energy unveils plans for e-motorcycles and new scooters in IPO prospectus
Ather Energy, India’s third-largest electric two-wheeler manufacturer, is currently developing two new EV platforms in a move to expand its portfolio, with one dedicated to motorcycles. The manufacturer filed for a ₹3,100 crore initial public offering (IPO) on Monday and elucidated its plans in its draft red herring prospectus (DRHP), stating that it will use proceeds from the IPO to build an E2W factory in Maharashtra. Ather Energy will now be the second E2W manufacturer to debut on the stock market, with Ola Electric going public just last month.
While the manufacturer currently has an electric scooter-only portfolio, it is working on a new platform named “Zenith" for electric motorcycles, as stated in the DRHP. The Zenith platform will be geared towards e-motorcycles that target the 125-300 cc segments.
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There are no details about how many models are going to be built on this platform but Ather is expected to bring out a wide range. Rival manufacturer Ola Electric has unveiled its lineup of four e-motorcycles targeting multiple classes, and these are set for deliveries from 2025 onwards.
New e-scooter lineup and further plans
Currently there are limited e-motorcycle offerings in India, but Ather believes that EV penetration into the motorcycle segment will reach 10 per cent by the end of the decade.
Ather Energy is further working on a new platform for its electric scooters and the company stated that it will be a more versatile and cost effective architecture. The platform is called “EL" and it is reportedly nearing completion, having reached an advanced stage in its development. The new platform will be built around a new platform, new electronics and chassis, but elements of the battery and the Atherstack will be brought over from the Ather 450 platform.
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Ather has said that the new platform will allow them to develop a broad range of e-scooters that can be tailor-made for different domestic and international markets. Ather is yet to announce a launch date for the new platforms. In the meantime, the company plans to manufacture models based on the new platforms in its upcoming facility in Aurangabad, Maharashtra.
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