'COMPETITION HELPS BOTH CUSTOMERS AND MANUFACTURERS'

Tarun Mehta, Co-founder and CEO of Ather Energy, on the crowded EV space, making in India and the path to achieving revenues of $1 billion

- RACHNA DHANRAJANI

TARUN MEHTA is a patient man. He and his IIT Madras mate and Co-founder Swapnil Jain developed their vehicle for five years till they were satisfied enough to put it on the road. Plus, they were clear that their focus was the premium end of the market. That explains why electric scooter maker Ather Energy has emerged as strong competition to legacy brands. Next on the list, says 33-year-old Mehta, is manufacturing lithium-ion cells. In an exclusive interview with Business Today's Rachna Dhanrajani, Mehta, also the CEO of Ather Energy that had a valuation of $739 million as of October 14, 2022, as per research firm Tracxn-talks about competition, how the company is pushing self-reliance in the country and the way forward. Edited excerpts:

There is a lack of trust in electric vehicle (EV) technology, especially when it comes to scooters, after some of them burst into flames. How does Ather work around this perception?

The thing about automotive technology is that it takes time. One has to be patient with technology. It cannot be a rush job... We at Ather have researched our battery and engine for almost a decade. Our scooters have now been on the road for more than four to five years and the batteries have been working beautifully. When you see a brand that has been sustaining on the streets for years now, then there shouldn't be any doubts... the product has spoken for itself.

What do you think of competition in the EV space?