Ather Energy expands with a new Rs 1,000 crore plant in Aurangabad, Maharashtra, to ramp up electric vehicle production on 100 acres.
Ather Energy, the Bengaluru-based electric two-wheeler company, is enhancing its production capacity with a new manufacturing facility in Aurangabad’s Bidkin town.
According to sources, an agreement for this expansion is expected to be finalised soon. However, the company plans to invest Rs 1,000 crore in the facility, which will be developed in phases across 100 acres.
Ather Energy is known for its focus on designing, manufacturing, and selling electric vehicles, as well as developing software and managing charging infrastructure. The company operates assembly and battery plants in Hosur, Tamil Nadu, and plans to expand to Aurangabad.
Recently, Hero MotoCorp increased its stake in Ather Energy by acquiring an additional 2.2%, amounting to Rs 124 crore. This move is a strategic step ahead of Ather’s anticipated initial public offering (IPO) early next year. Bloomberg News reported that Ather Energy could be valued at approximately $2 billion through its IPO, aiming to raise $400 million.
While dominating India’s electric two-wheeler market with a 13–15% share, Ather Energy is now eyeing international expansion, targeting Southeast Asia, Latin America, and Europe. The company will announce its first international market entry in the coming months.
Financially, Ather reported a significant revenue increase to ₹1,783 crore in FY23 from ₹408 crore in FY22 but also noted a widened loss of ₹864.5 crore compared to ₹344.1 crore in the previous fiscal year. Despite these figures, Ather continues to bolster its operations, buoyed by recent investments of ₹900 crore from Hero MotoCorp and GIC.
Ather Energy plans to expand its retail network and charging infrastructure, aiming to increase its presence from 100 cities and 150 experience centres to potentially 130–150 cities and 180 experience centres by the end of this fiscal year.
As the demand for electric vehicles grows domestically and abroad, Ather Energy, with its strategic expansions and forthcoming IPO plans, remains poised for substantial growth.
