Once commissioned in 2022, the new facility—its second in the Hosur region—will expand its manufacturing capacity to 4 lakh vehicles per year from 1.20 lakh units at present, according to a statement released on Monday. The new plant will also focus on lithium-ion batteries—the most important component of an electric vehicle.
“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,” Tarun Mehta, cofounder and chief executive of Ather Energy, said in the statement.
The company, which started operations at its first plant earlier this year, has achieved 90% localisation for its Ather 450 Plus and 450X scooters. The battery pack used in the vehicles is also made in-house. Ather Energy 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”, according to the release.
Retail Sales
The Bengaluru-based EV startup claimed to have delivered its best-ever monthly sales in October, clocking twelve-fold growth over last year. It said it is achieving a revenue run rate of $100 million and 20% month-on-month sales growth since November 2020.
“Our experience centres are scaling up rapidly, and our retail footprint is set to grow by six times in the coming quarters. So, within just ten months of opening our current facility, we find ourselves already operating at full capacity,” Mehta said.
Ather Energy plans to set up 150 experience centres in 100 cities by March 2023. It has also invested heavily in charging infrastructure for its scooters.
With inputs from agencies.
