Ather Energy has revealed that its flagship and maiden Indranagar experience centre in Bangalore, Karnataka has registered sales revenue of Rs 10 crore in the month of July. A back-of-the-envelope calculation shows that at an average ex-showroom price of Rs 135,000 in Bangalore, the EV maker sold 741 Ather scooters from this company-owned store in the software city.
Ather offers two products – the Ather 450 at Rs 125,490 and Ather 450X at Rs 144,500 ex-showroom, Bangalore – which sit in the high-performance category in the e-scooter segment in India.
With a recent increase in the subsidy offered on electric two-wheelers under the Central government’s FAME II incentive scheme for EVs, the above price of the two Ather scooters is after factoring in a reduction of Rs 14,500 in the ex-showroom price.
This could be one of the driving factors for the sales of Ather’s premium electric scooters, which has led to this heightened demand for these scooters particularly at this outlet, making it the largest Ather store in India purely from a revenue perspective.
The company claims the revenue from this Bangalore outlet is two-fold of what a regular conventional two-wheeler dealership is able to generate in a month with double the infrastructure size.
Ather on an expansion spree
Ather Energy has been on an aggressive retail network expansion drive across India over the last few months, opening a second Ather Space store in Bangalore, and venturing into 13 new cities including Mumbai, Pune, Ahmedabad, Delhi, Jaipur and more recently Indore.
The company rode into the state of Madhya Pradesh today by opening a franchise experience store – Ather Space – at A B Road in Indore in association with the Kasliwal Group.
The state offers incentives to EV buyers including exempting vehicle registration for the first 22,500 electric two-wheelers and free parking at municipal-run parking facilities to all EVs.
The Ather 450 and 450X are priced at Rs 127,916 and Rs 146,926 ex-showroom, Indore.