industry

Ather Energy to set up its second plant within a year of opening its first


Electric two-wheelers maker Ather Energy on Monday said that it is setting up a second plant adjacent to its existing facility at Hosur in Tamil Nadu that will take up its total manufacturing capacity to 400,000 units a year from 120,000 at present.

The company said that it will invest Rs 650 crores over the next five years to increase its production capacity and improve operational efficiency to meet the growing demand for electric vehicles (EV).

The new plant is expected to be ready by 2022. Ather had set up its first manufacturing facility just at the beginning of this year.

“The EV demand has been shooting up across the country, and customers are coming in expecting electric scooters to wow them,” Tarun Mehta, co-founder and chief executive officer at Ather Energy said in a press statement.

The company is rapidly expanding its sales network across the country.

“So, within just ten months of opening our current facility, we find ourselves already operating at full capacity,” Mehta adding that the expansion will make his company the country’s largest EV producer.

Ather Energy makes two models called 450X and 450 Plus based on the same platform. It is backed by Hero MotoCorp which is one of the largest investors. The company competes against the likes of Bajaj Chetak and Hero Electric.

Ola Electric’s electric scooters will also compete against Ather. Incidentally, Ola has also claimed that with a manufacturing capacity of 2 million units to begin with and plans of expansion to 10 million units a year, it will be the largest EV maker in India.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.