According to a statement released on Monday, after being commissioned in 2022, the new facility—its second in the Hosur region—will increase its manufacturing capacity to 4 lakh vehicles per year from the current 1.20 lakh units. 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 poised to become the largest EV producer in the country by next year,” said Tarun Mehta, Co-Founder and CEO Ather Energy, said in the statement.
The company, which started operations at its first plant earlier this year, has achieved 90% localization for Ather 450 Plus and the 450X scooter. The battery pack used in vehicles is also made in-house. According to the release, Ather Energy has committed to invest Rs 650 crore over the next five years “to enhance operational efficiency and production capacity to meet rapid growth in demand”.
Retail Sales
The Bengaluru-based EV startup claims to have delivered its best monthly sales ever in October, which is twelve times higher than last year. It said it is achieving a $100 million revenue run rate and 20% monthly sales growth since November 2020.
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Mehta said, “Our experience centers are growing rapidly, and our retail footprint is set to grow six-fold in the coming quarters. Hence, within just ten months of opening our existing facility, we are positioning ourselves at full capacity. are operating.”
Ather Energy plans to set up 150 experience centers in 100 cities by March 2023. It has also invested heavily in the charging infrastructure for its scooters.
With inputs from agencies.