{"id":25931,"date":"2024-04-13T20:27:50","date_gmt":"2024-04-13T20:27:50","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/13\/india-must-keep-e-scooter-subsidies-to-boost-adoption-ather-ceo-says\/"},"modified":"2024-04-13T20:27:50","modified_gmt":"2024-04-13T20:27:50","slug":"india-must-keep-e-scooter-subsidies-to-boost-adoption-ather-ceo-says","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/13\/india-must-keep-e-scooter-subsidies-to-boost-adoption-ather-ceo-says\/","title":{"rendered":"India Must Keep E-Scooter Subsidies to Boost Adoption, Ather CEO Says"},"content":{"rendered":"
\"India<\/div>


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India will need to keep subsidies for electric scooters for another few years to boost the switch from polluting motorbikes, the CEO of e-scooter maker Ather<\/a> Energy told Reuters on Saturday.<\/p>\n

Industry experts believe subsidies such as cash incentives are crucial to India hitting its goal of electrifying 70 percent of its two-wheeler fleet by 2030, as the world’s third-largest importer of oil looks to reduce dependence on fossil fuels.<\/p>\n

“We’ve been able to cut down a lot of subsidy reliance, but it’s also come at the cost of almost a year’s worth of lost growth,” Ather CEO and co-founder Tarun Mehta said in an interview.<\/p>\n

Mehta was referring to the government’s surprise decision in May to slash cash incentives for e-scooters to a maximum of 15 percent of the purchase price before tax from 40 percent previously.<\/p>\n

India’s e-scooter market is small but growing, accounting for 5 percent of total two-wheeler sales in fiscal 2023-2024. Ather was one of the first to drive the pick-up in adoption with the launch of its 450 series of e-scooters in 2018, but has fallen behind larger rivals Ola Electric<\/a> and TVS<\/a> Motor, whose discounts have driven sales.<\/p>\n

Ather, which counts India’s biggest two-wheeler maker Hero<\/a> MotoCorp as its largest investor, launched a new, “family-friendly” e-scooter called “Rizta” on Saturday, priced at Rs. 109,999 ($1,321).<\/p>\n

The scooter has a larger seat and storage space compared with rivals. Mehta hopes it will attract a wider range of buyers in India’s populous north and west regions, helping boost sales.<\/p>\n

Loss-making Ather is focusing on top-line growth, Mehta said, but added margins would improve if sales volumes were higher.<\/p>\n

“We haven’t broken even yet, I think there’s still a journey, hopefully it’s not very long. Hopefully the Rizta plays a meaningful role because I am happy in how margins are shaping up at a unit level,” he said, without giving details.<\/p>\n

\u00a9 Thomson Reuters 2024<\/em><\/p>\n\n

Affiliate links may be automatically generated – see our ethics statement<\/a> for details.<\/i><\/div>\n<\/div>\n


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India will need to keep subsidies for electric scooters for another few years to boost the switch from polluting motorbikes, the CEO of e-scooter maker Ather Energy told Reuters on Saturday. Industry experts believe subsidies such as cash incentives are crucial to India hitting its goal of electrifying 70 percent of its two-wheeler fleet by […]<\/p>\n","protected":false},"author":2,"featured_media":25932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/i.gadgets360cdn.com\/large\/ather_Reuters_1712562415100.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[4720,25398,30963,1919,355,19813,19817,3953,273,15678],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/25931"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=25931"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/25931\/revisions"}],"predecessor-version":[{"id":25933,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/25931\/revisions\/25933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/25932"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=25931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=25931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=25931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}