Popular Vehicles and Services arm get LoI to set up Ather facilities in Tamil Nadu

Popular Vehicles and Services announced that its step-down subsidiary, Kuttukaran Cars, has received a Letter of Intent (LoI) to set up Ather Energy facilities in Chennai, Tamil Nadu, marking its official entry into the electric two-wheeler segment.

The facilities will be spread across two locations in Chennai. One will feature an Experience Centre, while the other will host a Service Centre and warehouse. The service center will initially operate with five bays, capable of servicing approximately 450 vehicles per month. Operations are expected to commence in the first week of September 2025. The total investment for the project is estimated at Rs 75 lakh.

Naveen Philip, promoter and managing director of Popular Vehicles and Services, stated, ?Through this strategic collaboration, we aim to reinforce Ather?s growing presence by establishing a robust service network and delivering an exceptional ownership experience to EV customers. Tamil Nadu is an important market in our efforts to gradually broaden our revenue beyond Kerala, and this initiative supports that direction.?

Popular Vehicles and Services is one of the largest authorized dealerships for Maruti Suzuki India (MSIL) vehicles in India. Its subsidiaries and step-down subsidiaries are in the dealership business of Honda Cars India, Jaguar Land Rover India, Tata Motors (Commercial Vehicles) and Daimler India Commercial Vehicles (Bharat Benz), among others.

The company reported a consolidated net loss of Rs 13.72 crore in Q4 FY25, compared to a net loss of Rs 20.11 crore in Q4 FY24. Revenue from operations rose marginally to Rs 1,372.36 crore in Q4 FY25, up from Rs 1,363.71 crore in the corresponding quarter of the previous fiscal year.

Shares of Popular Vehicles and Services shed 0.44% to Rs 135.10 on the BSE.

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