Ather Energy to double retail network; plans 700 experience centres across India by FY26-end

Ather Energy, one of the country's leading electric two-wheeler manufacturers, today announced plans to scale up its retail network to 700 Experience Centers (ECs) across India by the end of FY26. The company said this expansion will nearly double its current footprint.

"The expansion comes at a time when Ather is seeing strong momentum, driven by the success of the Rizta, Ather’s first family scooter, which recently crossed 1 lakh units in retail sales within a year of its launch. Rizta has expanded Ather’s reach beyond its core performance segment, attracting family scooter buyers and significantly increasing sales across key states including Gujarat, Rajasthan, Maharashtra, Delhi, Madhya Pradesh, Odisha, and Chhattisgarh," the company said.

The company also noted that it has gained market share in regions where its brand presence was previously limited. Rizta now accounts for nearly 60% of Ather’s total sales, unlocking new cities and attracting a wider base of family buyers, setting the stage for a much stronger retail presence in the coming months.

As of March 31, 2025, Ather had 351 Experience Centers in India, along with 24 centers in Nepal and Sri Lanka, 46% of which are located in South India. With Rizta opening up new demand pockets, Ather now plans to triple its store count in northern markets while continuing to expand in eastern and western regions by the end of FY26.

In terms of manufacturing, the company currently operates two plants in Hosur, Tamil Nadu—one for vehicle assembly and the other for battery production. Ather is also building a third facility in Bidkin, AURIC, Chhatrapati Sambhaji Nagar, Maharashtra, which is expected to raise its total manufacturing capacity to 1.42 million electric two-wheelers annually.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Rizta’s phenomenal success has opened up new markets and brought a much larger set of family buyers into the Ather ecosystem. We’re seeing demand coming in from cities where our footprint was previously limited, and that gives us the confidence to scale faster. Expanding to 700 experience centers is about staying ahead of this demand curve and ensuring that wherever our customers are, they have easy access to the full Ather experience.”

Ather positioned to grow ahead of the industry: HDFC Securities

With an expanding product portfolio, rapidly expanding dealership network, and improving focus on marketing and advertising, domestic brokerage firm HDFC Securities expects the company to outgrow the industry over the medium term and gain market share.

The brokerage anticipates unit economics to improve in the medium term, given the improving economies of scale, better operating leverage, shift from NMC to LFP technology, introduction of the more efficient EL platform, and improving mix of merchandise and accessories.

The expansion of its product portfolio (to also include more affordable models) and dealership network is the right ingredient for scaling up. HDFC strongly believes that Ather Energy will remain one of the leading players through the EV transition.

It provides a good EV pure play opportunity for investors to invest in the Indian EV transition story. Thus, it has initiated coverage on the stock with a 'buy' rating and a target price of ₹409.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.