Electric two-wheeler maker Ather Energy on Saturday said it has invested over Rs 400-500 crore to develop its latest scooter platform EL and its first mass-market e-scooter Monarc.
Earlier, the company launched Monarc at a starting price of Rs 99,999 (ex-showroom Bengaluru) in three variants, S100, S125 and S160, with a host of new features, with deliveries of the vehicle commencing from September.
The company also said a 200 km version of Ather S and a feature-loaded Z version with a 125 km IDC (Indian Driving Cycle) range are also in the pipeline.
The EL platform added the latest features like onboard charging, AeBS and 10,000km service intervals.
“This would be the largest investment to date on a new product. I would say this will be an easy Rs 400-500 crore investment between the platform and the product (or) likely more,” Ather Energy co-founder and CEO Tarun Mehta told PTI at the 4th edition of Ather Community Day hosted in Bengaluru on Saturday.
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