Ather Energy recently signed a Memorandum of Understanding with the Tamil Nadu government to set up an electric vehicle and Lithium-ion battery manufacturing facility in Hosur, Tamil Nadu.
The MoU for developing the 4-lakh sq ft manufacturing facility was signed at the Investment and Skill Development Conclave held in Chennai on Saturday, November 30. The factory will be supported by both, the central government and the state government and benefit from various measures taken by the central government such as the updated FAME policy, GST reduction and taxpayers could qualify to receive loans on electric two-wheeler purchase.
"Ather is rapidly scaling up and we need to expand our production capacity to meet the growing demand. The new unit will help us meet the demand for the next few years across the country,” said Tarun Mehta, Chief Executive Officer, Ather Energy.
Lithium-ion battery manufacturing is a key focus area for the company going forward Mehta added.
Ather Energy plans to expand in 30 cities in the next few years and this MoU is expected to help the company scale up production for its future expansion.