Ather Energy to invest Rs. 60 crores in factory

Ather Energy is planning to invest Rs. 60 crores in its manufacturing facility in Whitefield, Bangalore. The factory has an initial production capacity of 20,000 units. The decision to increase the production would be taken after the first batch of scooters have rolled out.

Reports suggest that the Bangalore-based start-up has completed beta test rides of their prototype S340. It aims to open bookings for its electric scooter by early 2018, while deliveries are expected to commence in the second quarter of 2018. Ather will launch the electric scooter in a phased manner and will initially be available in 3 cities - Bangalore, Pune and Chennai. 

The company is also reportedly in talks with various stakeholders to build charging infrastructure. Started in 2013, Ather energy is backed up by Hero MotoCorp and has also received investment of over Rs. 290 crores from firms like Tiger Global and Flipkart. 

Source: Economic Times