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Ather Energy plans to build third plant in Maharashtra

Monday, 17 Jun 2024
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Electric vehicle maker Ather Energy has chosen Aurangabad in Maharashtra to set up its third plant. An agreement in this regard is expected to be signed soon.

The plant will be located in Bidkin town in Aurangabad, and would be built in phases across 100 acres. The company plans to invest Rs 1,000 crore in the plant.

Ather's two other plants, an assembly unit and a battery plant, are located in Hosur, Tamil Nadu. Earlier this month, Hero MotoCorp acquired an additional 2.2 percent stake in Ather Energy for Rs 124 crore.

The Bengaluru-based company is engaged in designing, manufacturing, servicing, software development, in relation to electric automobiles and charging infrastructure. It is also involved in storage, distribution, and management systems of electric power  and other ancillary services. Ather Energy posted a revenue of Rs 1,753.8 crore in FY24.

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