In a major boost to its rapid expansion in the country, Ather Energy signed a joint MoU with the State Of Karnataka, committing to 1,000 Ather fast chargers across the state. Tarun Mehta, Co-founder & CEO, Ather Energy, took to Twitter to share the news, which comes in days after the company announced its monthly sales data for the first time, reportedly selling 2,825 units, registering a year-on-year growth of 366 per cent over January 2021 numbers. In the previous month, the company expanded its footprint in two new markets, Nagpur and Lucknow.
Had an incredible meeting with the Hon CM @BSBommai Walked in with an intent to intro us, walked out with a joint MoU committing 1000 Ather fast chargers across the state. Amazing speed & support from govt to enable this!
Karnataka is at the forefront of EV. Excited to be here! pic.twitter.com/1wsbGyt8VE— Tarun Mehta (@tarunsmehta) February 3, 2022
Ather is also building its war chest amid rising competition from start-ups like Softbank Group-backed Ola Electric, which recently raised $200 million, as well as from India’s traditional bikemakers like Hero Electric, Bajaj Auto, and TVS MotoCorp, which are speeding up their clean mobility plans. Recently, the Hero MotoCorp board approved a new investment of ₹ 420 crore in Ather Energy, in line with its vision towards future mobility. Till now, Ather Energy has raised about 12 billion rupees ($160 million) since its inception in 2013.
Ather Energy factory in Hosur, Tamil Nadu.
In a previous statement, Mehta had said that Ather plans to increase its annual production capacity to one million scooters from 4 lakh by the end of 2022, as well as install 5,000 fast chargers across India, while developing new products. All of this, he said will be attempted over the next three years. Ather currently manufactures about 5,000 electric scooters per month, with expansion planned to increase this to 20,000 scooters per month starting this year.
Highlights
- Ather will build 1,000 fast chargers across Karnataka.
- Last month, Ather expanded to Nagpur and Lucknow.
- Recently, Hero board approved a new investment of Rs. 420 crore
Keyword: Ather Energy Signs MoU With Karnataka Government, Commits To 1,000 Fast Chargers