India's Ather targets 1 million electric scooters a year as demand soars

Ather electric scooters are seen outside the showroom in Mumbai, India, January 28, 2022. REUTERS/Francis Mascarenhas

NEW DELHI (Reuters) - Ather Energy, India's top electric scooter maker by revenue, is raising funds to ramp up annual production to one million scooters over the next three years amid a surge in demand, the startup's co-founder and chief executive told Reuters.

Ather, which counts Tiger Global and Indian bikemaker Hero MotoCorp as investors, has raised about 12 billion rupees ($160 million) since its inception in 2013 and is in the process of raising more, Tarun Mehta said in an interview.