The Indian electrical scooter manufacturer Ather Energy has announced its intention to double its retail sales network in 700 stores throughout India by March 2026. The expansion follows a strong growth, largely fueled by the popularity of its “Riza” electric scooter, which now represents almost 60% of total sales, the company has declared in an exchange deposit on Wednesday.With Rizta Rising’s question, Ather said that he will triple his number of stores in Northern India and will increase his network in the eastern and western regions by the end of the current year. Before its recent quotation, the company had declared that it will use public offer funds to expand beyond southern India.
“We are seeing the question that comes from the cities where our imprint was previously limited and this gives us the security of reducing faster,” said Ravneet Singh Phole, Chief Business Officer of Ather Energy. “The expansion to 700 experience centers means keeping up with this curve of the question and ensuring that wherever our customers are, they have easy access to the full experience of Ather.”As of March 31, the company based in Bengaluru managed 351 points of sale in India, with almost half in southern India, where the company was founded in 2013. It also has 24 centers outside India, Nepal and Sri Lanka.
In addition to this detail expansion, Ather will also increase its network of service centers to better support its customers. In addition, the company has also announced a new production plant in the Maharashtra, with the aim of increasing its annual production capacity to 1.42 million electric scooters.
Ather Energy, which became public last month, recorded a 29% increase in operational revenues in the fourth quarter of the fiscal year, reaching RS 676.1 Crore, from RS 523.4 Crore a year earlier. The company also reduced the net loss of 17%a year to year, to RS 234.4 Crore.
Wednesday, the Ather shares closed 323.25 at RS, growing by 0.75% on the BSE.
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