Ather Energy shares rise after new Konarc electric scooter launch
Ather Energy's stock experienced a 4% increase, reaching Rs 1,675 on the BSE, following the launch of its new Konarc electric scooter priced at Rs 99,999. The company has positioned the Konarc as an affordable electric scooter option for Indian riders, offering six variants across the S and Z product lines with IDC range options up to 200 km.
The Konarc S 100 km variant is priced at Rs 99,999, while the S 125 km and S 161 km variants are priced at Rs 1,21,999 and Rs 1,44,999, respectively. The first two variants will go on sale in mid-September through a phased rollout. Ather Energy's CEO, Tarun Mehta, emphasized that the scooter has been designed to make EVs mainstream in India by addressing the needs of buyers who have not yet switched to electric vehicles.
Analysts are bullish on Ather Energy stock, with Nomura maintaining a Buy rating and raising its target price to Rs 1,714, citing EV penetration in India reaching an inflection point and improving scale and operating leverage. CLSA also maintains an Outperform rating with a target price of Rs 1,600, citing strong Q1 performance and high demand constraints.
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- Ather Energy shares rally 4% after launch of Konarc electric scooter at Rs 99,999. Buy, sell or hold the stock? economictimes.indiatimes.com
