Ather, An Electric Two Wheeler Maker To Pour $10 Million In Manufacturing Plant
The days have now initiated that promote the need for energy-saving mode of transport. Following the trail marks of the electric heavy vehicle and passenger vehicle maker, the two-wheeler manufacturer is now jumping into the development of pioneering technology also.
One of such auto startups, Ather Energy, that is into the development of electric scooters, supported by Hero Corp., is in plans to invest around $10 Million for the setup of the manufacturing facility. This information was given by the CEO and Founder of the company, Tarun Mehta. The India-based company is projecting to start the booking of its first electric scooters in India by the start of 2018.
However, Ather haven’t revealed the pricing factor of the electric scooters but has planned to start the delivery of the electric bikes in the second quarter of 2018. The move comes in at the time when majority of the companies in the automobile sector are inclining towards making of e-vehicles.
As per the recent report, Mahindra & Mahindra is also looking forward to introducing an electric two-wheeler for the Indian market.
The company has so far organized open houses and test rides across the cities such as Chennai and Bengaluru. And as a result of this, more than 100 of enthusiasts have tested the S340, while the response was affirmative and obliging.
The startup is looking to pour about Rs 60 Crore in the manufacturing plant in Whitefield, Bengaluru. It has a production capacity of 20,000 units. The founder stated that we will be augmenting the ability of the plant, but it would be concluded post delivery of the first lot of scooters.
Currently, the company is functioning on structuring the infrastructure to back the vehicles and it is also in talks with various other shareholders to build charging infrastructure.
The company has already initiated with its small pilot programs with selected people in Bengaluru. Ather is in plans to introduce its product in three cities such as Chennai, Pune, and Bengaluru.
The company was started by the two IIT Madras graduates, Swapnil Jain and Mehta, in 2013. And so far, the company has raised a total funding of $45 Million led by some big names such as Tiger Global and the Flipkart founders, Binny Bansal and Sachin Bansal.
Mehta added that the government taking initiatives to promote electric vehicles has helped Ather on a high note. In the span of a year, it has enlarged its team size from 75 to 250 people.