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Image Credits - Devendra Fadnavis/X
Bengaluru-based EV maker Ather Energy will invest Rs 2,000 crore to establish its third manufacturing plant in Chhatrapati Sambhajinagar, Maharashtra.
The EV maker will establish the facility in Aurangabad Industrial City (AURIC).
Announcing the development on X, Deputy Chief Minister Devendra Fadnavis said the facility will help generate 4,000 jobs and will have an annual capacity to produce up to 1 million units of both vehicles and battery packs.
"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 manufacturer, has chosen Maharashtra for its 3rd manufacturing facility in Aurangabad Industrial City (AURIC)," Fadnavis wrote.
Big investment in Maharashtra in automotive sector!
— Devendra Fadnavis (@Dev_Fadnavis) 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/Hc8EeaDdM6
"This move underscores Maharashtra’s supportive business environment and robust policies for electric vehicle manufacturing, aligned with Hon PM Narendra Modi ji’s vision for India’s industrial growth," Fadnavis said.
"This significant investment will not only enhance Maharashtra’s role in the electric mobility revolution but also contribute to boosting employment opportunities across the state," he added.
The development comes after Ather Energy reportedly converted from a private limited company to a public limited company.
According to the Inc42 report, Ather Energy's board approved the change at its annual general meeting (AGM) last week, and the company has now changed its name from Ather Energy Pvt Ltd to Ather Energy Ltd.
In early April 2024, Ather introduced 'Rizta,' its inaugural scooter designed for families. The scooter, which starts from Rs 1,09,999, was unveiled during Ather's Community Day event in Bengaluru.
The 'Rizta' scooter, which has been in development since 2019, is designed for strength, safety, and comfort. The 'Rizta' starts with two models and three variants, with prices extending up to Rs 1,45,000 for the top-end variant.