Hero MotoCorp-backed electric two-wheeler manufacturer Ather Energy is scouting for a location to start a larger manufacturing unit to meet the supply requirements as it expands to new cities in the next four years.
The company is planning to set up around 6,500 charging stations with an investment of around Rs 130 crore in next four years to support the electric vehicle ecosystem.
It has a capacity to produce 30,000-35,000 units, but this would not be enough as it has higher targets in terms of sales. It is looking at setting up a new facility with a much larger scale and this is expected to come up in the next couple of years, when it requires the additional facility.
The company is not looking at any fundraising in the near term and the details of the investment towards the capacity expansion is not finalised. It saw an additional fund infusion from Hero MotoCorp last year.
In a bid to expand the presence, it is planning to have presence in 30 cities in the next two to four years. The first milestone is to be in six cities by the end of the year, with certain scale. The company is expected to expand its sales from Bengaluru to Chennai in a couple of months and before moving to Pune, Delhi, and Mumbai later. As part of creating the supporting ecosystem, the company will invest around Rs 130 crore in setting up around 6,500 charging stations across 30 cities in four years.
Last month, it also announced a strategic association with Godrej Nature’s Basket to expand AtherGrid, the company’s EV fast-charging public network’s presence in India. The 35 locations that Godrej Nature’s Basket operates across the country will host AtherGrid Points, as the automobile player expands its presence across India.