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EV Startup Ather Energy To Expand Manufacturing Facility To 4 Lakh Units Per Annum

The company did not share the exact timeline for when the new plant will begin operations, it said it will be “ready for 2022”

Electric two-wheeler maker Ather Energy to cater to increased demand for its 450X and 450 Plus scooters.

While the company did not share the exact timeline for when the new plant will begin operations, it said it will be “ready for 2022”. The plant will take the company’s manufacturing capacity to 4,00,000 units per annum from the current 1,20,000 units.

In a statement, the company added that it will be investing ₹650 crore over the next five years to enhance operational efficiency and production capacity to meet the exponential surge in demand.

“The EV demand has been shooting up across the country…Our experience centres are scaling up rapidly, and our retail footprint is set to grow by six times in the coming quarters,” Tarun Mehta, Co-Founder & CEO, Ather Energy said.

He added, “So, within just ten months of opening our current facility, we find ourselves already operating at full capacity. We are commissioning the second plant to be ready for 2022. With this capacity expansion, Ather is well on its way to becoming the country’s largest EV producer by next year.”

The company, which is backed by founders of Flipkart – Sachin Bansal & Binny Bansal, Hero Motocorp and Tiger Global, said it has been witnessing 20% month-on-month sales growth since November 2020, adding that in October, it registered its best-ever monthly sales numbers, registering 12-fold growth over last year and achieving retail revenue of ₹100 million.

“Apart from the EV manufacturing, the facility will also focus on lithium-ion battery manufacturing, which is a key focus area for Ather Energy. Ather Energy is the only EV OEM in India to make its battery packs and has filed 13 patents on the design and manufacturing of the li-ion batteries,” it said.

Source: Business World

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