Ather Energy Enters Family Scooter Segment, Aims for Market Share Growth
Jul 05, 2024 20:12
Ather Energy is expanding into the family scooter segment with a new plant in Maharashtra. The company hopes to increase its market share and plans to manufacture motorcycles within three years.
Photograph: Kind courtesy Ather Energy
Kolkata, Jul 5 (PTI) Electric two-wheeler maker Ather Energy is hopeful of increasing its market share as it forays into the family scooter segment, a company official said on Friday.
The Bengaluru-based firm has so far been manufacturing sporty scooters.
"The company has now entered the family scooter segment to capture a larger share of the market. Ather Energy's market share at the moment is around nine per cent in the sporty scooter segment, which is 14 per cent of the overall market, Chief Business Officer Ravneet Singh Phokela said.
The addressable family scooter market is 84 per cent of the entire segment, he said.
Phokela said the company plans to set up a new plant in Maharashtra, which would be operational in 18 months.
Ather Energy would look into manufacturing motorcycles over the next three years, with plans to export products in the markets of South East Asia, Europe and Latin American countries, he said.
The company sold 1.14 lakh units, produced at its Tamil Nadu plant, in the last fiscal year.
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