Ather Energy reveals its expansion plans with new manufacturing plant on the horizon

One of the top electric two-wheeler manufacturers, Ather Energy, is planning to add a new manufacturing plant to increase its production capabilities. The Chief Business Officer of Ather Energy, Ravneet Pholeka, said that the location for the new plant hasn’t been finalized yet. Although it is confirmed that the location will be outside the state of Tamil Nadu.

After the opening of the second plant, Ather Energy will start producing 420,000 units per year. The company also has the ambition of gaining more market share in India.

Ather Energy also wants to expand globally. After a good presence in the Indian electric two-wheeler market, the company wants to make its international debut soon.

Ather Energy has analyzed the international market in depth and concluded that three regions have a high demand for electric two-wheelers, namely, Europe, Latin America, and Southeast Asia.

In fiscal year 2023, Ather Energy experienced a drastic increase in its revenue from operations, surging to Rs 1,738 crore, which represents a growth of over fourfold compared to the Rs 408 crore recorded in FY22. Nevertheless, the company also disclosed a loss of Rs 864.5 crore for FY23, a notable increase from the Rs 344.1 crore loss reported in FY22. This financial information was officially disclosed in Ather Energy's annual statements submitted to the Registrar of Companies (RoC).

Ather Energy is based in Bengaluru and is one of the leading electric vehicle manufacturers in India. Other manufacturers include Ola Electric, Bajaj, and TVS. They control over 80% of India’s electric two-wheeler market. Ather Energy controls around 13–15% of this market share.