ImpactAlpha, November 9 – A majority of vehicles in India have two or three wheels. Bangalore based Ather Energy started producing a cleaner, electric two-wheel variety this year.
Ather has raised a $35 million Series D round, led by Sachin Bansal, founder of Indian e-commerce giant Flipkart, with backing from Hero MotoCorp, which makes a range of lower-priced electric scooters.
The funding will enable Ather to ramp up production of its Ather 450 scooter, which starts at about $2,000—roughly double the average price of a standard scooter in India.
EVs in India
India has the third-largest road network in the world, about 250 million registered vehicles and some of the world’s highest levels of toxic air pollution. A raft of local and international companies are competing to lower the cost of electric vehicles and expand charging infrastructure.
Last week, Charge+Zone, based in Vadodara, Gujarat, raised $3 million to expand its network of EV charging stations.