Ather Energy recently raised nearly Rs 1,000 crore in Series E funding, and it seems to be immediately putting that money to use. Reports suggest that the Bengaluru-based company is in talks with various state governments to set up a third manufacturing facility, aiming for a capacity of 15 lakh units per annum.
Ather is reportedly in talks with Andhra Pradesh, Maharashtra, Gujarat, Telangana and Karnataka, and is in the last leg of negotiations, and a final decision is expected within the next month. If Ather successfully sets up this plant as planned, it will become the company’s biggest factory, and boost its manufacturing capacity to almost 20 lakh units per annum.
Ather’s current manufacturing set-up consists of two facilities in Hosur, the second of which was commissioned in November last year. Once up to full capacity, these two units will have a combined output of 4 lakh units per annum. Ather CEO Tarun Mehta has long said that demand was outweighing supply, and the company now seems to be keen to address that in a big way.
Ather’s biggest rival in the e-scooter space is Ola Electric, which has a sprawling factory of its own, in Tamil Nadu. We recently received a tour of the 'Futurefactory', and you can read all about our experience here.
Source: PTI