Ather Energy signed MoU with TN govt for EV manufacturing plant
Ather Energy, a popular and leading electric two-wheeler manufacturer has signed an MoU with the government of Tamil Nadu (TN) for setting up a 4 lakh sq ft plant in Hosur. The company will get support from the state government under its EV policy.
The Ather Energy’s factory will be set up in an already built facility which covers an area of 400,000 sqft. The company’s CEO Tarun Mehta said that built-up facility with required scale and the brand’s R&D facilities in Bangalore made the decision easy.
Ather Energy signed MoU with TN
Ather 450 sales have been improved much since the government updated the FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric vehicles) policy, GST reduction and tax benefits on loans for electric two-wheelers.
As the facility is built-up, the production is expected to start sooner. As part of this initiative, Ather will train more than 4,000 in requisite skills in the EV sector in 5 years of duration. The facility will benefit from creating job opportunities either in direct or indirect ways.
Ather plans its availability in 30 cities
The new factory will help Ather to expand its production and it will be available in 30 cities in the next few years. At current, the production is not sufficient to meet the demand from Banglore and Chennai itself. So this facility will serve the products to cater to 30 more cities. From next year, Ather will start its import to cities like Hyderabad, Pune, Delhi and Mumbai. The electric scooters will launch in Hyderabad first followed by other cities.
Increase in production to 12 folds
Recently Ather Energy announced that it has plans to increase the production to 12 folds in the coming years and introduce a new range of products. These new products will be more affordable than the existing models like Ather 450.
Chief Business Officer, Ather Energy says
Recently, Ravneet Phokela, Chief Business Officer, Ather Energy said that at current the output capacity stands at 35,000 to 40,000 units per year but 2020 will see us expanding our production capacity by 12-fold with the opening of a new manufacturing plant to boost the output by up to 5 lakh units.
Tamil Nadu is in news these days, recently its electric vehicle policy has attracted global players including those from China. About nine new MoUs with various companies, including BYD China, signed as part of the initiative to industrialize the state.
In October, Zhang Jie, executive director of BYD India, called on Chief Minister Edappadi K. Palaniswami and discussed the firm’s investment plan in the State. According to the plan, BYD will invest in electric vehicles and mobile handsets in Sipcot, Oragadam and Sriperumbudur, and will provide job opportunities.
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