Ather Energy announces second plant in Hosur

Bengaluru-based Ather Energy has announced its second manufacturing facility in Hosur, Tamil Nadu. The company opened its first unit here earlier this year scaling up production of the 450 Plus and 450X electric scooters. The announcement arrives as the company witnessed strong demand for its offerings and will expand annual production to 400,000 units from the current 120,000 units. The new plant is scheduled to be operational sometime in 2022. Ather fast-tracked its plant expansion plans on the back of best-ever monthly sales in October 2021. Ather says it registered a 12-fold growth over last year achieving a revenue run rate of $100 million. The manufacturer says this makes it the largest EV maker by value in the segment. The company though does not share sales numbers as a policy, Ather’s long-term plan aims to build a production capacity of 500,000 units per annum with an investment of Rs. 650 crore.