Indian EV Startup Ather Energy Witnesses Over 400 Percent Revenue Growth for FY22

Bengaluru-based EV startup Ather Energy reported Rs 408.5 crore in revenue for FY21-22, up 411.9 percent compared to Rs 79.8 crore reported in the previous year. It sold 23,408 units of its two-wheeler electric scooters in FY22 compared to 5,523 units sold in the previous year.

Nearly 51 percent of its retail network is in south India, followed by the west (21 percent), north (20 percent) and east India (9 percent). These cities have a healthy mix of Tier I, II, and III cities, with an extremely encouraging response from smaller towns.