Expands its manufacturing capacity to 400,000 units
- Capacity expansion to cater to increasing demand for 450X and 450 Plus scooters
- Ather Energy recorded its best ever sales numbers in October 2021 and has been registering 20% growth on sales month-on-month over the past year
- Ather Energy crossed $100 million revenue run rate in October 2021
Ather Energy, India’s leading EV scooter brand, commissioned its second manufacturing facility in Hosur to cater to the growing demand of its electric scooters – the 450X and 450 Plus. The company plans to manufacture 400,000 units per annum, a significant jump from its current capacity of 120,000 units. Ather Energy had set up its first manufacturing facility at Hosur earlier this year.
In October, Ather Energy registered its best-ever monthly sales numbers, registering 12-fold growth over last year and achieving revenue run rate of $100 million, making it the largest EV maker by value in this segment.
Speaking on the development, Tarun Mehta, Co-Founder & CEO, Ather Energy said, “The EV demand has been shooting up across the country, and customers are coming in expecting electric scooters to wow them. This customer expectation is why our 450 series of electric scooters – the 450X and 450 Plus is seeing massive demand as it is the best electric scooter in the country today. Our experience centres are scaling up rapidly, and our retail footprint is set to grow by six times in the coming quarters. So, within just ten months of opening our current facility, we find ourselves already operating at full capacity. We are commissioning the second plant to be ready for 2022. With this capacity expansion, Ather is well on its way to becoming the country’s largest EV producer by next year.”
Ather Energy continues to gain strength in the two-wheeler EV space. Ather Energy has been registering 20% month-on-month sales growth since November 2020, highlighting the strong demand for its electric scooters. Ather has recorded a 3X increase in walk-ins, web inquiries and Test rides from April-October 2021 and a 4X growth in vehicle booking in the period. The company has also witnessed a tremendous increase in consumer interest for its latest scooter, the 450X, the most awarded EV scooter in India by leading automotive publications.
The company started its operations at the Hosur manufacturing facility earlier this year, catering to demand from across the country. It enables 90% of the manufacturing of Ather Energy’s 450X and 450 Plus to be localised, including the battery pack, which is made in-house by Ather Energy. The company has committed to invest INR 650 crores in the next five years to enhance operational efficiency and production capacity to meet the exponential surge in demand.
Apart from the EV manufacturing, the facility will also focus on lithium-ion battery manufacturing, which is a key focus area for Ather Energy. Ather Energy is the only EV OEM in India to make its battery packs and has filed 13 patents on the design and manufacturing of the li-ion batteries.
Ather Energy plans to strengthen its retail operations by expanding to new markets. The company plans to expand to around 150 Experience Centers in 100 cities by March 2023. It has also invested heavily in the charging infrastructure to provide a holistic experience to the rider community.
About Ather Energy:
Ather Energy, one of India’s first intelligent electric vehicle manufacturers was founded in 2013 by IIT Madras alumni, Tarun Mehta, and Swapnil Jain. It is backed by the founders of Flipkart -Sachin Bansal & Binny Bansal- Hero Motocorp and Tiger Global. Ather Energy launched India’s first truly intelligent, electric scooter – Ather 450 in 2018, followed by their new flagship offering Ather 450X in 2020. Ather has also installed a comprehensive public charging network, Ather Grid, designed and built-in India. With 200+ charging points across India, Ather Grid is one of the country’s largest fast-charging networks for electric vehicles. The company’s product line has won 37 awards in design, automotive, and technology categories. With 58 Indian and international patent applications, 109 trademarks, and 118 Indian and International design registrations to its name, Ather Energy aims to provide consumers with the best possible ownership experience. Ather Energy currently operates in 23 cities including Bengaluru, Chennai, Hyderabad, Pune, Jaipur, Kochi, Ahmedabad, Mumbai, Mysore, and Hubli.