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Ather Energy to set up 2nd manufacturing facility, targets 400K units
EV manufacturer Ather Energy on Monday announced it has commissioned second manufacturing facility in Hosur, Tamil Nadu, to cater to the growing demand of its electric scooters in the country.
The company aims to manufacture 400,000 units per annum of its 450X and 450 Plus e-scooters -- a significant jump from its current capacity of 120,000 units. Apart from the EV manufacturing, the facility will also focus on lithium-ion battery manufacturing.
Ather Energy had set up its first manufacturing facility at Hosur earlier this year.
"Within just 10 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," said Tarun Mehta, Co-Founder and CEO, Ather Energy.
In October, Ather Energy reported 12-fold growth over last year with a revenue run rate of $100 million.
The EV maker said it has been registering 20 per cent month-on-month sales growth since November last year.
The Hosur manufacturing facility enables 90 per cent of the manufacturing of 450X and 450 Plus e-scooters, including the battery pack, which is made in-house.
The company has committed to invest Rs 650 crore in the next five years to enhance operational efficiency and production capacity to meet the exponential surge in demand.
Ather Energy said it also plans to expand to around 150 experience centres in 100 cities by March 2023.