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

Together, both facilities will have a combined annual production capacity of 4,20,000 units.

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