India’s Ather Energy to enter Sri Lanka expanding e-scooter footprint
August 23, Colombo (LNW): Ather Energy, one of India’s leading electric two-wheeler (e2W) manufacturers, is set to expand its international footprint by entering the Sri Lankan market.
The company plans to open its first experience centre in Sri Lanka in the next quarter, marking its second international market entry following Nepal in November 2023.
The expansion will be facilitated through a partnership with Evolution Auto, a joint venture between Sensei Capital Partners, Atman Group, and Sino Lanka, the company said on Thursday.
Evolution Auto will serve as the national distributor for Ather in Sri Lanka, overseeing sales and service operations. Ather also plans to establish a network of fast-charging infrastructure across the country, aiming to support the adoption of electric vehicles (EVs).
Ravneet Singh Phokela, chief business officer at Ather, expressed enthusiasm about the company’s entry into Sri Lanka, emphasising the growing preference for EVs in the market due to rising petrol costs and environmental benefits.
“Ather’s e-scooters are known for their performance, design, and reliability, through which we aim to appeal to new-age Sri Lankan customers who appreciate quality modern products,” Phokela said.
Zahran Ziyawudeen, CEO of Evolution Auto, also highlighted the company’s mission to lead sustainable transportation in Sri Lanka and expressed excitement about the collaboration with Ather to bring world-class electric scooters to the market.
Ather Energy, an electric vehicle manufacturer based in India, on Thursday said that it plans to expand into Sri Lanka in the coming quarter, days after it secured funding from NIIF at a unicorn valuation.
The expansion will be the company’s second international launch after it entered Nepal last year.
Evolution Auto will serve as the company’s national distributor and will manage Ather Energy’s sales and service operations in Sri Lanka.
Additionally, Ather will also focus on establishing a network of fast-charging infrastructure across the country to facilitate EV adoption.
“We are thrilled to enter the Sri Lankan market. Sri Lanka has been a part of our global expansion plans after Nepal, where we established our presence last year,” said Ravneet Singh Phokela, Chief Business Officer, Ather Energy.
“With the increasing cost of ownership of petrol vehicles and the economic and environmental benefits of electric vehicles, the Sri Lankan market has shown an increasing preference for EVs.
Ather’s electric scooters are known for their performance, design and reliability, through which we aim to appeal to new-age Sri Lankan customers, who appreciate quality modern products,” he added.
Ather Energy competes with newly-listed Ola Electric and reportedly plans to list on the Indian stock exchanges next year, according to reports.
