Ather Energy predicts a massive increase in electric bike sales by 2023
25 April 2022
Ather Energy predicts that electric motorcycles will soon account for 20% of India’s two-wheeler market.
Electric motorcycles and scooters have improved steadily over time. Many models are becoming viable for more urban riders and commuters as battery capacity and maximum range increase and charging times decrease. Customers have flocked to electric vehicles in the post-COVID environment, despite the relentless march of innovation, but Ather Energy’s Founder and CEO Tarun Mehta believes a flood of new consumers is on the way.
“We are on the verge of a paradigm shift,” Mehta asserted. “It’s been an incredible few months. In just six months, we went from 3-4 percent market penetration in the scooter class to 12 percent. In the next 12-18 months, I believe we will achieve almost 25%-30% market penetration.”
While Ather has experienced sudden growth in recent months, India’s electric vehicle subsidies have helped consumers adopt the new technology. The subsidies were initially set to expire in 2023, but the Indian government recently extended them until 2024. While purchasing programs might help potential purchasers commit, sales figures are partly determined by the region.
As per him, the majority of the sales came in the last ten days of the month, because the company’s production line was shut down for a few weeks to facilitate the transition to the new product. He also said that they are confident that the new scooter will enable us to increase our market share in the coming months.
Ather Energy has now launched the Gen 3 450X and 450 Plus electric scooters, priced at Rs 1.39 lakh and Rs 1.17 lakh (ex-showroom, Delhi), respectively.
A best-seller in its category, the Ather 450X packs in some of the best features. At present, Ather 450X ex-showroom starts at Rs 1,32,426 in Delhi. The Ather Energy predicts electric scooter takes 3 hours 35 minutes to get an 80 percent charge and offers a driving range of 116 km on a full charge.
Many electric bike and scooter consumers in India live in Tier 2 and Tier 3 cities rather than the country’s main urban areas, according to sales data. Residents in cities like Mumbai and New Delhi may not have the same access. Despite regional constraints and reliance on incentive schemes, Mehta believes the business may continue to grow rapidly.
“But the fact is that electric is more attractive for them on a cost and experience basis,” Mehta said. “The acceleration, the sound, the lower running costs are all better. That’s not changing. And it’s not just us. There are a lot of good brands now that are building good quality products. I don’t think customers are going to freak out and say, ‘Let’s just wait.'”
