Ather Energy Plans to Establish a New Manufacturing Facility

Indian two-wheeler electric manufacturer Ather Energy is planning to widen its reach to the global market according to significant demands. The manufacturer is planning to start a new manufacturing facility.

Published On: 10/10/23
Views
0 Comments
0 Likes
2 min read

Ather Energy Plans to Establish a New Manufacturing Facility

News Highlights

Ather Energy is also planning to make its international debut in Latin America, Southeast Asia, and Europe.
The company noted a compelling revenue increase from INR 408 crore in FY22 to INR 1,783 crore.

Ather Energy is a Bengaluru-based two-wheeler electric manufacturer. Recently, it was reported that the manufacturer is planning to start a new manufacturing facility and expand production for global markets. To conclude the facility's location, the company is currently conversing with many state governments.

Also Read: Red Bull Soapbox Race is back in India

The Chief Business Officer, Ravneet Phokela, stated that the company is not including Tamil Nadu as it has manufacturing operations there. If the company finally succeeds in setting up a new facility, then the capacity of both facilities will be 420,000 units a year.

Ather Energy is also planning to make its international debut in Latin America, Southeast Asia, and Europe, according to market demands.

According to financial statements filed with the Registrars of Companies (ROC), the company noted a compelling revenue increase from INR 408 crore in FY22 to INR 1,783 crore. In FY23, the company witnessed a loss of INR 864.5 crore, while in FY22, the loss was INR 344.1 crore.

The Indian market is highly dominated by Bajaj, Ather, TVS, and Ola Electric. 80% of the Indian electric two-wheeler market is dominated by these four companies. In the market, Ather Energy holds a 13–15 percent market share, which makes it a leading player in this market. Hero MotoCorp and GIC have provided a secured fund of INR 900 crore to Ather Energy. The company will utilize this funding for improving the retail network, launching new products, and accumulating charging infrastructure.

By the end of this year, Ather Energy already has Ather scooters and is planning to set up 180 experience centers and expand its reach to 130–150 cities. The company currently has 150 experience centers, and it is operating in 100 cities.