Ather Energy Partners Vaidya Energy To Ply Its E-Scooters In Nepal

Electric vehicle maker Ather Energy has joined hands with Nepal’s Vaidya Energy, a subsidiary of Vaidya’s Organization of Industries & Trading Houses (VOITH), to export its flagship e-scooter model, Ather 450X, to the neighbouring country. 

As part of the partnership, the companies will also launch an experience centre in Kathmandu next month. Under the deal, Vaidya will not only facilitate the sales of Ather’s products but also set up fast-charging stations, Ather Grids.

“We see Nepal’s automobile market as a microcosm of the rising global consciousness over switching to cleaner mobility choices. In line with our ecosystem approach of market creation, we will also roll out our public fast-charging infrastructure, which has proven to be a huge differentiator for us in India,” Ather’s chief business officer Ravneet Phokela said.

He added that Ather is looking forward to leveraging Vaidya’s extensive experience and established expertise in the automotive retail sector to enhance the customer experience. 

Meanwhile, Ather will introduce its flagship model in two battery options — 2.9 kWh and 3.7 kWh, in the country. 

“Our vehicles not only offer a thrilling experience but also contribute significantly to cost savings, added convenience, and reduced commute times. We pledge to develop the whole ecosystem and focus on the customer experience, whether it comes to the product itself, its services and the infrastructure,” Vaidya Group CEO Suryansh Vaidya said.

Founded in 2013 by Swapnil Jain and Tarun Mehta, Ather is a Hero Motocorp-backed EV maker, which boasts its presence in more than 100 Indian cities, along with 150 experience centres. The company claims to have made India’s first smart and connected electric scooters.

Further, the two-wheeler EV maker asserts that it has more than 1,500 Ather Grids (fast-charging points) across India. With its 3 Lakh sq ft Indian manufacturing unit, the company is looking to expand its production capacity to 4.2 Lakh units per year, starting this financial year. 

Last month, Ather Energy posted an FY23 loss of INR 864.5 Cr, which soared more than 150% year-on-year (YoY). The losses incurred were largely on the back of a steep rise in expenses, which more than tripled during the period under review to INR 2,670.6 Cr from INR 757.9 Cr a fiscal ago.

In the first week of September 2023, the company raised INR 900 Cr from its existing shareholders — Hero MotoCorp and GIC — through a rights issue.

During the same month, there were reports that Zerodha’s cofounder Nikhil Kamath was all set to join the company’s cap table by investing via a secondary stake sale.

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