Ather Energy plans to invest Rs 2,000 crore to set up its third manufacturing facility in Chhatrapati Sambhaji Nagar in Maharashtra.
The electric two-wheeler maker will establish the facility in Aurangabad Industrial City, helping generate around 4,000 jobs, Devendra Fadnavis, the state's deputy chief minister, said on social media.
The facility is expected to have an annual production capacity of up to one million vehicles and battery packs, Fadnavis said.
"The development underscores Maharashtra's supportive business environment and robust electric vehicle manufacturing policies which align with Prime Minister Narendra Modi's vision for India's industrial growth," Fadnavis said.
With the Samruddhi Expressway providing effective connectivity, investors are increasingly seeing the potential of the region, the deputy CM said.
Big investment in Maharashtra in automotive sector!
June 26, 2024
Welcome to Maharashtra, Ather !
Just got done with a meeting with the Founder of Ather Energy, Shri Swapnil Jain and I'm glad to share that he informed about their great decision that Ather Energy, the leading electric scooter… pic.twitter.com/Hc8EeaDdM6Ather Energy has transitioned to a public company as it prepares for an initial public offering.
On June 21, the company adopted a resolution to remove "Private" from its official name, a move that sets the stage for the public share sale, as per documents filed with the Registrars of Companies and reported by TheKredible.
Ather Energy aims to proceed with an IPO filing this month, seeking to raise approximately $400 million at a $2 billion valuation.
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