Ather Energy raised $128 million (Rs 991 crore) in a funding round led by National Investment and Infrastructure Fund (NIIF) and Hero MotoCorp last month.
Electric two-wheeler maker Ather Energy is reportedly in talks with several state governments to set up a new manufacturing plant in the country.
The Bangalore-based company is said to have contacted state government officials from Andhra Pradesh, Maharashtra, Karnataka, Telangana, and Gujarat in their bid to finalise the location of their third manufacturing unit in the country. It is supposed that the facility will have the capacity to manufacture 15,00,000 units annually.
As per sources, the company’s quest for 100 acres of land is coming to its end as they are close to finalising a location within a month. Setting up this plant will enable the Hero MotoCorp-backed company to enhance the operational efficiency and production of their Ather 450 Plus and Ather 450X electric scooters.
Last year, Ather Energy commissioned its second manufacturing facility in Hosur, Tamil Nadu to cater the growing demand. With the second facility expected to be functional later this year, the company will be able to roll out 4,00,000 units annually – a significant rise from 1,20,000 units from its first facility.
Ather Energy raised $128 million (Rs 991 crore) in a funding round led by National Investment and Infrastructure Fund (NIIF) and Hero MotoCorp last month. The EV maker plans to utilise the investment, a major chunk of which will go into capacity, while also enhancing the R&D, charging network, and growing the company’s retail network.