Ather Energy To Open Third Manufacturing Facility In Maharashtra With Rs 2,000 Cr Investment
Date
6/27/2024 2:40:40 PM
(MENAFN- KNN India)
New Delhi, Jun 27 (KNN) Ather Energy, India's fourth-largest electric scooter maker, has announced plans to establish its third manufacturing facility in Bidkin, AURIC, Chhatrapati Sambhaji Nagar, Maharashtra. The new plant will produce both electric two-wheelers and battery packs.
The company plans to invest over Rs 2,000 crore in this new facility, which is expected to generate approximately 4,000 jobs.
This strategic location offers several advantages for Ather Energy, including closer proximity to more markets, reduced logistics costs, and faster delivery of products to customers.
Maharashtra's Deputy Chief Minister Devendra Fadnavis welcomed the investment, stating it aligns with Prime Minister Narendra Modi's vision to strengthen India's startup and manufacturing ecosystem.
Ather Energy, which competes with Ola Electric, TVS Motor, and Bajaj Auto, currently operates two manufacturing facilities in Hosur, Tamil Nadu.
The company has been expanding its production capacity, product portfolio, retail outlets, and charging infrastructure across India to meet growing demand for electric two-wheelers.
This announcement follows Hero MotoCorp's recent additional investment of Rs 124 crore in Ather Energy, increasing its stake in the startup.
(KNN Bureau)
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