Ather Energy to open its second unit in Hosur in 2022 which will produce 400,000 units from the current 120,000 annually of 450X and 450 plus.
Ather Energy is backed by Hero MotoCorp’s Pawan Munjal, Tiger Global, Sachin and Binny Bansal (Flipkart’s founders). It was founded by Tarun Mehta and Swapnil Jain in 2013. In 2018, Ather Energy launched its first model and second in 2020.
Earlier this year, Ather Energy established its first manufacturing unit in Hosur and in October, company registered its best monthly sale with a growth of 12-fold over the last year and achieved $100 million revenue.
Tarun Mehta, Co-founder & CEO, Ather Energy, said, “The EV demand has been shooting up across the country, and customers are coming in expecting electric scooters to wow them. This customer expectation is why our 450 series of electric scooters – the 450X and 450 Plus is seeing massive demand as it is the best electric scooter in the country today.”
“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. 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,” he added.
90% of manufacturing of 450X and 450 plus will take place in this new facility and the company will invest Rs 650 crores in the coming 5 years for enhancing production capacity and operational efficiency.
The new manufacturing unit will also produce lithium-ion battery for which 13 patents has already submitted for the designing and manufacturing the batteries.
Since November 2020, Ather Energy has registered 20% month-on-month sales. It also recorded 3 times more walk-ins, test rides and web inquiries from April to October 2021 and 4 times increase in vehicle booking in the same period.
The company is planning to expand with 150 new experience centres by March 2023 in 100 cities and investing in charging infrastructure.
Currently, the company has around 200 charging points in 23 cities across the country.