Ather Energy’s losses up 2.5X to Rs 864 crore

Bengaluru-based EV startup Ather Energy has reported a loss of Rs 846.5 crore in FY23, which is more than double its losses in the previous year. Despite increased sales and revenue, the company’s expenses also rose significantly. Ather Energy recently raised Rs 900 crore in funding and plans to use it for product expansion and the development of charging infrastructure. The company currently has over 200 retail touchpoints and a network of over 1,500 charging grids.