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#News(Startup) [ via IoTForIndiaGroup ]
With an order backlog of about five months, Ather Energy will be utilising this fund for expansion of capacity to 25000 units per annum and add 3-4 cities in the shorterm to expand business. The Chennai pre-orders will be opening in the coming weeks, and eventually the companys to expand to 30 cities by the end of 2023.
To meet the projected demand in the coming years, the company is planning a new manufacturing facility which will be designed to produce 1 million vehicles a year. Ather Energy will also set up 6500 Ather Grid fast charging points across the country over the next 5 years with a projected investment of Rs 130 Cr, the company informed.
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