Ather Energy Advocates for Policy Predictability to Support Electric Mobility in India
Ather Energy, with significant investment from Hero MotoCorp, aims to achieve 100 percent electrification of the domestic two-wheeler market by 2030 and has plans to export to markets similar to India in the near future.
September 18, 2023. By EI News Network
Ravneet S Phokela, Chief Business Officer at Ather Energy, emphasised the significance of extending the scheme for an additional three to five years to boost electric vehicle (EV) adoption.
He cited the two key requirements for the next phase, often referred to as FAME III. He stated, "Two requirements: extend the period of time, and importantly, let there be policy predictability."
Ather Energy, with significant investment from Hero MotoCorp, aims to achieve 100 percent electrification of the domestic two-wheeler market by 2030 and has plans to export to markets similar to India in the near future.
Phokela highlighted the importance of stable subsidy structures, stating that unpredictability hampers business planning, as investments are based on subsidy assumptions. Ather Energy plans to establish a third plant with an annual capacity of 10 lakh units but has yet to finalize a location.
Regarding the duration of subsidies for electric two-wheelers, Phokela recommended a period of three to five years but underscored the importance of longevity over higher subsidies in a single year. Spreading the finite subsidy amount over three to four years, rather than exhausting it in one year, is the preferred approach.
Phokela also disclosed Ather's upcoming export plans, indicating that while there has been interest from overseas markets, the company has primarily focused on domestic opportunities. However, he stated that they plan to commence exports soon and may make an announcement within the next two months. The company is eyeing markets similar to India for its initial overseas expansion.
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