Electric two-wheeler manufacturer Ather Energy is planning to launch its first electric motorcycle and give tough competition to Ola Electric, a newcomer in the segment.
“We plan to manufacture our new scooter and motorcycle platforms at Factory 3.0, with a phased expansion plan, to ensure efficient capital utilisation,” Ather Energy said in its draft red herring prospectus (DRHP) according to a Money Control report.
The documents reveal that the company is concentrating on research and development for the preliminary design of the motorcycle platform.
“The platform includes virtual simulation of various motorcycle and battery architectures, prototyping and testing of various concepts prior to finalization,” DRHP said.
Ather Energy, which is backed by Hero MotoCorp, Nikihil Kamath is gearing up to raise Rs 3,100 crore via an initial public offering (IPO).
The Bengaluru-based EV company said in June that it will invest over Rs 2,000 crore to establish its third manufacturing unit in Maharashtra.
The new unit, which will be located in Bidkin, Aurangabad Industrial City (AURIC), will make electric two-wheelers along with battery packs.
Ather’s rival Ola Electric forayed into the electric motorcycle segment with the launch of its first set of electric motorcycles, the Roadster Series, on August 15.
The Ola Roadster series includes the Roadster X, Roadster, and Roadster Pro models. Deliveries for the Roadster X and Roadster will commence in Q4 FY25.
Meanwhile, Ola Electric's arrival, as well as Ather Energy's projected entry, will increase competition in India's electric bike segment. The market is currently filled with big brands such as Revolt and Pure EV, among others.
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