Ather Energy launches buyback scheme

Hyderabad: Electric vehicle maker Ather Energy on Tuesday rolled out an assured buyback scheme, the first of its kind in the domestic EV space, for its 450X e-scooter model, which is set to hit the road next month.

Besides, the Bengaluru-based startup, which is 34.58 per cent owned by two-wheeler market leader Hero MotoCorp, also announced cutting prices of Ather 45Plus model by Rs 9,000.

Under the assured scheme, aimed at accelerating EV adoption in the country, Ather Energy will buy back Ather 450X e-scooter at Rs 85,000, at the end of three years, Tarun Mehta, co-founder and CEO, Ather Energy, said at a virtual press conference.

The company revised its subscription plans, offering more flexibility to customers, starting at Rs 125 per month. Ather Energy has built its own li-ion battery packs and an overall robust platform in the Ather 450 product line.