Ather Energy plans to go global; to set up a new factory

TusharK · 9th October 2023, 12:27

Ather Energy is planning to set up a new manufacturing facility to expand its production capacity, as it prepares to enter the global electric 2-wheeler market.

Ather Energy plans to go global; to set up a new factory-ather450sfrontview3.jpg

According to Ravneet Phokela, Chief Business Officer of Ather Energy, the company is in talks with various state governments to finalize the factory’s location. The new facility will be set up outside of Tamil Nadu, where it already has a manufacturing unit. Together, both facilities will have a combined annual production capacity of 4,20,000 units.

Ather Energy has identified markets in Southeast Asia, Latin America and Europe for its future expansion. It will also mark the brand’s foray into the international market.

Last month, Ather Energy secured an investment of Rs 900 crore from Hero MotoCorp and Singapore’s GIC. According to CEO and co-founder Tarun Mehta, the funds will be used to expand the company’s portfolio and its footprint.

Source: ET Auto

Link to Team-BHP News

ohaak · 9th October 2023, 19:10

It appears that electric two-wheeler manufacturers are struggling to generate sufficient profits without the aid of government subsidies. The government, on the other hand, seems to be willingly backing the Internal Combustion Engine (ICE) lobbies by not phasing out ICE two-wheelers (at least in the scooter segment). It is my hope that Ather addresses their financial liquidity issues and expands their product line. While Ather's presence across India is still limited, it is imperative that they operate a profitable business.

Turbohead · 9th October 2023, 19:34

Welcome move! A very sorted product which I'm pretty sure will find many takers in the developed world. Hope they become profitable and survive!

9th October 2023, 12:27	#1
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,570 Thanked: 57,842 Times	Ather Energy plans to go global; to set up a new factory Ather Energy is planning to set up a new manufacturing facility to expand its production capacity, as it prepares to enter the global electric 2-wheeler market. According to Ravneet Phokela, Chief Business Officer of Ather Energy, the company is in talks with various state governments to finalize the factory’s location. The new facility will be set up outside of Tamil Nadu, where it already has a manufacturing unit. Together, both facilities will have a combined annual production capacity of 4,20,000 units. Ather Energy has identified markets in Southeast Asia, Latin America and Europe for its future expansion. It will also mark the brand’s foray into the international market. Last month, Ather Energy secured an investment of Rs 900 crore from Hero MotoCorp and Singapore’s GIC. According to CEO and co-founder Tarun Mehta, the funds will be used to expand the company’s portfolio and its footprint. Source: ET Auto Link to Team-BHP News
	(2) Thanks

9th October 2023, 19:10	#2
ohaak BHPian Join Date: Dec 2019 Location: Pune Posts: 217 Thanked: 458 Times	Re: Ather Energy plans to go global; to set up a new factory It appears that electric two-wheeler manufacturers are struggling to generate sufficient profits without the aid of government subsidies. The government, on the other hand, seems to be willingly backing the Internal Combustion Engine (ICE) lobbies by not phasing out ICE two-wheelers (at least in the scooter segment). It is my hope that Ather addresses their financial liquidity issues and expands their product line. While Ather's presence across India is still limited, it is imperative that they operate a profitable business.
	(1) Thanks

9th October 2023, 19:34	#3
Turbohead Senior - BHPian Join Date: Jul 2015 Location: Chennai Posts: 1,396 Thanked: 5,866 Times	Re: Ather Energy plans to go global; to set up a new factory Welcome move! A very sorted product which I'm pretty sure will find many takers in the developed world. Hope they become profitable and survive!
	(1) Thanks