Ather Energy, a Bangalore-based electric two-wheeler manufacturing company established in India with the support of Hero Motocop, is planning to set up its next manufacturing plant in India.
For this, Ather is in talks with several state governments including Andhra Pradesh, Maharashtra, Gujarat, Telangana, and Karnataka. and talks are going on with them continuously.
According to the report, the company is almost in the final stages of its talks and it has been decided where it has to set up the plant. It is believed that the company will finalize the location by next month.
As per reports, the company plans to increase its annual capacity of electric two-wheelers to around 15 lakh units/year.
At present, the plant capacity at Hosur in Tamil Nadu is 1.2 lakh units per annum, which is expected to increase to around 4 lakh units when the second assembly line is commissioned later this year.
For this, the company is planning to take about 100 acres of land in parcels.
Last month, Ather energy raised USD 128 million (approximately Rs 991 crore) from National Investment and Infrastructure Fund Ltd’s (NIIFL) Strategic Opportunities Fund (SOF) and Hero Motor-coped along with additional investors.
This includes many plans of the company, such as expanding manufacturing facilities, investing in research and development, charging infrastructure, and developing a retail network.
Hero motor-cop & Ather Energy -Hero motor-cop is the largest two-wheeler manufacturing company in India. Hero was one of the first companies to invest in Ather Energy. Hero invested in Ather in 2016 and since then it has been a part of its growth. Hero has about 35% partnership in making Electric Two-Wheeler.
Ather has done its bestseller so far in the last month (May-june 2022). The company sold a total of 3,807 units in May and 3,797 in June 2022 ( with a 1090% YoY growth over June 2021).
Ather Energy has 38 experience centers in 32 cities of India. The future plans of the company are even bigger. The company is planning to establish more than 150 experience centers in 100 cities in India by 2023.
So that was a quick look at Ather Energy’s third manufacturing plant and its annual capacity.