Popular Vehicles and Services Limited has informed the Exchange regarding a press release dated August 08, 2025, titled "PVSL Ventures into the state of Karnataka with Ather: To Launch Two facilities in Bangalore".
PVSL · price
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Popular Vehicles & Services Limited (PVSL), through its wholly-owned subsidiary Kuttukaran Cars Pvt Ltd, has received two Letters of Intent (LOIs) from Ather Energy to set up dealerships in Bangalore, Karnataka. This marks PVSL's entry into a fourth state with the Ather brand, after Kerala, Tamil Nadu, and the upcoming Maharashtra launch. The two facilities will include an Experience Centre at one location and an Experience Centre, Service Centre (with 5 bays servicing ~550 vehicles per month), and warehouse at the other. Operations are expected to start by the second week of September 2025. Total investment is estimated at around Rs 1.2 crores. PVSL already operates in Karnataka through JLR and Maruti dealerships.
This is a small but strategically positive expansion that strengthens PVSL's electric two-wheeler segment and broadens its geographic footprint with Ather. However, the Rs 1.2 crore investment is modest and unlikely to materially move the needle on near-term revenue or earnings.