Ather Energy New EV Plant
Plans Third EV Plant in India
Ather Energy, India’s third-largest electric scooter manufacturer company now plans to open a new manufacturing plant in India. According to the Media Reports Ather is in talks with the with various state governments to finalize the facility’s location.
Currently, the Company has two EV manufacturing facilities in India. one in Whitefield, Bangalore, and other in Hosur, Tamil Nadu. According to Ravneet Phokela, the Chief Business Officer, the company is in discussions with several state governments to decide where to build the plant, avoiding Tamil Nadu and Hosur, where it already has manufacturing operations. Both facilities will have a combined annual capacity of 420,000 units.
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International Debut Plans
Apart from this, Ather Energy is Also Plans to make its International debut. Based on the significant demand that has been found in these regions, Ather Energy is getting ready to make its international debut in Southeast Asia, Latin America, and Europe.
Recent Funding
Hero MotoCorp and GIC invested INR 900 crore in the company, which will be utilized to develop new products, enhance charging infrastructure, and extend the retail network.
Company currently operates in 100 locations with approximately 150 experience centers, with ambitions to expand to 130-150 cities and 180 experience centers by the end of the fiscal year.
Ather Energy Market Share
Ather is a significant player in India’s electric two-wheeler market, with a market share of 13-15% in a market controlled by Ola Electric, Bajaj, TVS, and Ather. These four firms command 80% of the market.
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