- Ather Energy debuts Rizta scooter, emphasizing safety, comfort, and affordability.
- Introduction of Halo smart helmets featuring music, voice-call, and wireless charging functionalities.
- Strategic expansion into the family scooter segment to compete with TVS Motors’ iQube and Bajaj Chetak.
- Ather’s dedication to engineering excellence evident in extensive research and development for innovative products.
- Company’s strong financial backing and partnerships, including investments from Hero MotoCorp, fueling growth and innovation in electric mobility.
Introduction :
Ather Energy, a major player in the electric two-wheeler sector, has unveiled new solutions targeted at broadening its product selection and increasing market share. The launch ceremony, held during the company’s Community Day in Bengaluru on April 6, showcased the premiere of the family scooter, ‘Rizta,’ and the unique ‘Halo’ series of smart helmets.
Improving the Product Range with Rizta Scooter :
Tarun Mehta, Co-Founder and CEO of Ather Energy, revealed the Rizta scooter, emphasising its strength, safety, and comfort. The development of this family-oriented scooter began in 2019, with painstaking attention to detail. Rizta comes in five brilliant colour options with dual tones and features a curvier shape and wider seats to accommodate both the rider and the rear passenger. Ather intends to further penetrate the market by delivering the Rizta at a competitive starting price of Rs 1,09,999.
Market Dynamics and Competition :
Ather’s entry into the family scooter sector puts it up against established companies such as TVS Motors’ iQube and Bajaj Chetak. Notably, TVS’s iQube reached key sales milestones, selling over 200,000 units in the first 45 months of its launch, suggesting strong demand for electric family scooters. Ather’s strategic pricing and emphasis on comfort and storage options are expected to position the Rizta competitively in this growing market sector.
Unique Smart Helmets with the Halo Series :
In addition to the Rizta scooter, Ather Energy introduced its cutting-edge smart helmets under the brand name ‘Halo.’ The Halo line comprises helmets with advanced features like music playing, voice-call functionality, and wireless charging. Mehta emphasised the company’s commitment to technical excellence, highlighting the extensive research and development required to bring these breakthrough technologies to market.
Company Overview and Financial Overview :
Tarun Mehta and Swapnil Jain founded Ather Energy in 2013, and the company has risen as a leader in the electric car sector, using their alma university, the Indian Institute of Technology, Madras. The company received significant finance, including a notable $128 million in a series E round in 2022 from investors like as the National Investment and Infrastructure Fund Ltd and Hero MotoCorp Ltd. Despite generating losses of Rs 864 crore in FY23, Ather recorded a large increase in operating revenue, reaching Rs 1,784 crore, indicating strong growth potential.
Strategic Partnerships and Future Prospects :
Ather’s strategic collaborations, including a significant investment from Hero MotoCorp in 2023, demonstrate the company’s commitment to long-term growth and innovation in the electric mobility sector. Ather Energy is prepared to strengthen its position as a pioneer in the electric two-wheeler category by increasing its product portfolio, improving technological capabilities, and responding to changing consumer needs.
Conclusion :
The release of the Rizta scooter and Halo series smart helmets is a critical milestone for Ather Energy as it embarks on a mission to transform the electric transportation market. Ather strives to revolutionise urban transit by combining innovation, affordability, and customer-centricity, while also promoting sustainable and environmentally responsible solutions for the future.