Ather Energy Soars with Record Scooter Dispatches in October

Ather Energy reported record monthly dispatches in October, shipping over 20,000 scooters, with the Rizta family scooter contributing significantly. The company's market share increased significantly between July and September, and it filed for a Rs 4,500 crore IPO. Ather plans further expansion with new manufacturing facilities.

Ather Energy announced on Thursday a record-setting month for scooter dispatches, achieving more than 20,000 shipments across India in October. The new Rizta family scooter played a crucial role, representing around 60%-70% of the month's volume, according to a company statement.

The firm recorded retail sales reaching 20,000 units by October's end, continuing a strong growth trend that saw market share increase from 7.9% in July to 14.3% in September. This reflects the burgeoning demand for electric vehicles in India, with the sector experiencing approximately 70% year-on-year growth.

Following a successful month, Ather Energy has filed for a Rs 4,500 crore initial public offering (IPO). The company boasts 231 Experience Centres and 2,500 fast charging stations nationwide and aims to expand with a new manufacturing facility planned in Chatrapati Sambhaji Nagar, Maharashtra.

(With inputs from agencies.)