OUR BUSINESS
was originally incorporated October 21, 2013 We are a pure play EV company that designs all our products ground-up in India.
We are a pioneer in the Indian electric two-wheeler (“E2W”) market.
Our technology platform is composed of five key elements: (i) battery, (ii) powertrain, (iii) electronics, (iv) chassis, and (v) the Atherstack.
We design and develop E2Ws, battery packs, charging infrastructure, associated software and accessories, while we manufacture our battery packs and assemble our E2Ws in-house.
Our products are positioned at a premium price in their respective segments We launched our first product, the Ather 450, in June 2018. With the Ather 450, we introduced connected features through a 3G SIM card, touchscreen dashboard, aluminium chassis and cloud integration for the first time in the E2W industry in India.
It was also the first E2W to offer a top speed of 80 kmph, comparable to internal combustion engine (“ICE”) scooters and had the highest top speed among E2Ws in India in 2018.
Our current E2W portfolio comprises two product lines – the Ather 450 line, which caters to customers seeking performance scooters, and the Ather Rizta line, which is targeted at customers seeking convenience scooters for their family.
Launched in April 2024, the Ather Rizta features a large seat, WhatsApp notifications displayed on the vehicle dashboard, voice commands through Alexa Skills, up to 56 L of storage and introduced traction control to the Indian E2W market.
Our E2Ws are complemented by our product ecosystem which comprises charging infrastructure, accessories and
the Atherstack, our in-house developed software that powers our products.
we were the first two-wheeler (“2W”) OEM to establish a 2W fast charging network, the Ather Grid, in India.
Oursoftware, the Atherstack, introduced industry-first connected features such as Over-The-Air (“OTA”) updates and ride statistics on the Ather app.
We have a vertically integrated approach to the design of our products and key technologies. This integrated approach is applicable to both our hardware and software, and has enabled us to pioneer several EV technological advancements.
Through this approach towards design, we seek to establish new standards for performance, efficiency and user experience in the E2W market.
Our technological innovations are enabled by our in-house design and research and development (“R&D”) capabilities. Our R&D team had 701 on-roll employees, housed at three R&D facilities in Bengaluru, India, as at March 31, 2024. We had 48% of our total workforce dedicated to R&D as at March 31, 2024. As at August 31, 2024, globally, we had 291 registered trademarks, 199 registered designs and 45 registered patents, in addition to pending applications for 11 designs, 93 trademarks and 210 patents.
We assemble our E2Ws and manufacture our battery packs at our manufacturing facilities located near Hosur, Tamil Nadu, India (the “Hosur Factory”). At the Hosur Factory, we had a total annual installed capacity of 420,000 units for E2Ws and 379,800 units for battery packs as at March 31, 2024. We are in the process of building the first phase of our Factory 3.0 in Chhatrapati Sambhajinagar (formerly Aurangabad), Maharashtra, India.
We partner with international technology companies such as Infineon Technologies, Asia Pacific Pte Ltd, Qualcomm Technologies Inc., LG Energy Solution Ltd., Mahle Electric Drives India Private Limited and Nidec India Private Limited for components such as semiconductors, motors and lithium-ion cells.
Such partnerships enable us to leverage our suppliers’ scale and capabilities to procure critical raw materials and remain agile with respect to capital intensive technology.
OBJECTS OF ISSUE
- Capital expenditure to be incurred by our Company for establishment of an E2W factory in Maharashtra, India.
- Repayment/ pre-payment, in full or part, of certain borrowings availed by our Company.
- Investment in research and development.
- Expenditure towards marketing initiatives.
- General corporate purposes.
Qualitative Factors
- Our ability to pioneer new technologies.
- Our E2Ws are positioned at a premium price in their respective segments in the E2W market.
- Vertically integrated approach to product design with strong in-house R&D capabilities.
- Software defined ecosystem that drives high customer engagement and drives margins.
- Established and scalable technology platform enabling accelerated product launches.
- Experienced management team and long-term investors committed to strong corporate governance standards.
Ather Energy Comparison Listed Industry Peers Group
- Hero MotoCorp Limited.
- Bajaj Auto Limited .
- Ola Electric Mobility Limited.
- TVS Motors Limited .
- Eicher Motors Limited.
