Ather Energy, one of India’s largest two-wheeler EV makers, is planning to set up its third manufacturing facility. Currently, the company has its plant in Hosur with an annual capacity of 1.2 lakh units per annum. But, the 2nd facility, which will go live later this year, will take the total annual capacity to 4 lakh units per annum.
With the growing demand for electric scooters and keeping the positive future of electric mobility in mind, Ather is preparing to set up its third facility. The company is already in talks with a host of state governments, of which Andhra Pradesh, Maharashtra, Gujarat, Telangana and Karnataka are the most favourable. With this additional manufacturing facility, the annual capacity of Ather will reach 15 lakh units per annum. As per sources, the talks are in the final rounds, and the company will most likely finalise the location within the next month. Although, Ather has not disclosed any details officially. The third facility in talks will reportedly have a total area of 100 acres of land.
New Round Of Funding For Ather Energy
Last month, Ather Energy received its latest round of funding. The value this time was USD 128 million (around Rs 991 crore). National Investment and Infrastructure Fund Ltd (NIIFL), Strategic Opportunities Fund (SOF) and Hero MotoCorp are key investors.
With more capital coming in, Ather Energy will also spend a substantial amount on research and development. Hence, this will result in better products with more riding range and innovative features. The company will also look to strengthen its dealership network. At the same time, it will also build a viable charging network. Currently, Ather Energy has its presence in 32 cities with a total of 38 experience centres. The target is to have 150 such centres in 100 cities by 2023.