Ather Energy, the electric two-wheeler manufacturer, is gearing up to introduce a cutting-edge electric scooter that boasts an impressive 156-kilometer range.
News of this innovative scooter has emerged following the release of a homologation document for what’s being referred to as the Ather 450S HR. Many speculate that “HR” stands for High Range.
According to the leaked document, the Ather 450S HR will be equipped with a substantial 3.76 kWh battery pack, ensuring a certified range of 156 kilometers.
Currently, Ather offers two electric scooters: the Ather 450X and the Ather 450S. The 450X is available in 2.9 kWh and 3.7 kWh battery variants, while the 450S, with its 3.04 kWh battery, provides a 90 km range. Consequently, if the 450S HR comes to fruition as per the document, it will claim the title of having the most extended range in the Ather lineup.
Additionally, the leaked document reveals that the new EV will deliver a peak output of 5.4 kW and achieve a top speed of 80 kilometers per hour. It will feature four distinct riding modes: Eco, SmartEco, Ride, and Sport.
In terms of pricing, Ather currently offers the 450X starting at Rs 1,39,999, while the 450S is priced at Rs 1,29,999. If the 450S HR is officially launched, it will be positioned between the 450X and the 450S in terms of pricing.
Despite strong sales, Ather Energy recently reported a significant increase in losses during the financial year 2022–23. The company’s losses surged to Rs 864.5 crore in FY23, up from Rs 344.1 crore in FY22. Total expenses also tripled, reaching Rs 2,670.6 crore from Rs 757.9 crore in FY22.
This loss increase occurred even as Ather’s revenue from operations grew fourfold, reaching Rs 1,784 crore by the end of the fiscal year in March 2023. Reports indicate that the company spent Rs 1.5 to earn every Rs 1 from operations in FY23, and its EBITDA margin improved to -38.3 percent.
Earlier in the month, Ather Energy secured Rs 900 crore in funding from existing shareholders Hero MotoCorp and the global investment firm GIC through a rights issue. The company intends to utilize these funds for launching new products and expanding its charging infrastructure and retail network.
Currently, Ather Energy boasts a network of over 200 retail touchpoints across more than 100 cities and a public fast-charging network for electric two-wheelers featuring over 1,500 Ather Grids.
Ather recently diversified its product lineup by introducing 2.9 kWh and 3.7 kWh battery options for the flagship 450X and an entry-level product, 450S, in an effort to cater to a wider segment of the two-wheeler market.
Founded in 2013 by IIT Madras alumni Mehta and Swapnil Jain, Ather Energy enjoys backing from prominent investors, including Hero MotoCorp, GIC, NIIF, Sachin Bansal, and Tiger Global.