Ather Energy to launch new EVs, ramp up production, expand sales network
Ather Energy is confident about the long-term growth prospects of green mobility solutions in the country and hence it is in the process to ramp up production, introduce new products and expand sales network across the country. The Bengaluru-based firm, backed by the likes of HeroMoto Corp and Flipkart founders Sachin and Binny Bansal, plans to increase its production capacity to five lakh units per annum by the end of next fiscal at its Hosur plant located in Karnataka. Currently, the plant rolls out 1.1 lakh units per annum.
Ather Energy's co-founder and CEO Tarun Mehta told PTI that the next four to five years is crucial for the company. The company has already committed ₹130 crore to expand its manufacturing facility and over the next 4-5 years, it is looking at roughly around ₹650 crore of total investment at the plant. The brand currently produces two electric scooters - 450X and 450 Plus - at its production facility. The EV company's upcoming scooters will include more variants of the Ather 450 product line over the next year. It is also aiming to create a new product in the scooter segment in the next two years.
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Mehta noted that the company will take some time to get into the bike segment. "So, in the next two years, the focus is going to be on scooters, bikes after that," he said. Coming to sales, he said that Ather wants to be present across 50 cities by the end of the current fiscal and will expand its operations to around 100 cities by the end of FY23. Ather is located in 13 cities for now. Recently, the company opened a retail outlet in Lajpat Nagar, Delhi.
The EV maker, which at present has 142 fast charging points across the country, is also aiming to increase it to about 500 fast charging points by the end of the current financial year.
(With inputs from PTI)