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In a bid to go global, electric scooter manufacturer Ather Energy, which is currently exporting its products to Nepal only, is looking at shipping to more geographies in the next 12-15 months.
“We have definite plans of taking it global. We have a lot of inbound demand. So far we have resisted the temptation to go out because the domestic opportunities are too large...we started with Nepal a few months back. We hope to add a few markets,” Ravneet Singh Phokela, Chief Business Officer at Ather Energy, said on Friday.
For the company, South-East Asia, Europe and Latin America, among others, are potential export markets.
“We will decide where we will go. South-East Asia is a large market with huge opportunities. But it is very price-competitive. There is Europe on the other side, where there is a huge appetite for electric vehicles. Latin America is not as large as South-East Asia and not as rich as Europe. So, we have a lot of inbound demand from all these geographies...we will decide where we will go first,” Phokela said.
The electric two-wheeler maker will initially consider “ease of entry” rather than “size of market” while going global.
“Right now, we will optmise more on ease of entry than size of market. We don’t want to go to Europe too soon, where the cost of entry is very high,” Phokela pointed out. “We will open up some markets in the next 12-15 months,” he said.
Family scooter
Recently, the Bengaluru-based company introduced its first family scooter Rizta. After foraying into the family scooter segment, the company is hopeful of increasing its market share. The addressable family scooter market is around 84 per cent of the overall market.
The company’s market share at the moment is around nine per cent in the sporty scooter segment, which is around 14 per cent of the overall market.
Ather Energy has recently announced its plans to establish its third manufacturing facility in Maharashtra with an investment of around ₹2,000 crore. The new plant is likely to be operational in 18 months.
The company currently operates two manufacturing facilities in Hosur, Tamil Nadu.
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