PUNE: Ather Energy, manufacturer of electric two-wheelers, is setting up a second plant adjacent to its existing facility at Hosur in Tamil Nadu to ramp up its capacity to 400,000 units a year from 120,000 at present to meet rising demand for its electric scooters.
The factory will also focus on lithium-ion battery manufacturing. The company said it will invest Rs 650 crore over the next five years to increase its production capacity and improve operational efficiency to meet the growing demand for electric vehicles (EV).
The new plant will go onstream by 2022.
Hero Motocorp-backed Ather had set up its first facility at the beginning of this year....