🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Ather Energy’s Maharashtra facility to boost EV capacity to 1.42 million

Economic Times

Economic Times · 1m ago

Ather Energy’s Maharashtra facility to boost EV capacity to 1.42 million

Ather Energy has announced plans to establish a new manufacturing facility in Maharashtra, which will enhance its annual production capacity for electric two-wheelers to 1.42 million units.

2

Related News

Ather Energy crosses 400 Grid fast charging points across Maharashtra - The Economic Times

Economic Times

Economic Times · 15d ago

Ather Energy crosses 400 Grid fast charging points across Maharashtra - The Economic Times

Ather Energy has expanded to over 400 fast charging points across Maharashtra, covering 35 cities, including Mumbai and Pune. The company offers additional 220 LECCS-standard chargers and collaborates with partners like HPCL and EV Dock to enhance the charging ecosystem. Nationally, Ather operates over 3,300 fast charging stations, facilitating electric vehicle (EV) adoption and convenience for users. This infrastructure boost aims to assure riders of accessible charging wherever needed.

Ather Energy’s net loss widens 22.5% to ₹1,060 cr in FY24

Inshorts · 1y ago

Ather Energy’s net loss widens 22.5% to ₹1,060 cr in FY24

Bengaluru-based two-wheeler electric vehicle (EV) manufacturer Ather Energy’s net loss widened 22.5% in the fiscal year ended March 31, 2024 (FY24), as per the annual report of Hero MotoCorp. The EV manufacturer’s net loss jumped to ₹1,059.7 crore in FY24 from ₹864.5 crore in FY23, as per the report.

After 4X growth in FY23, Ather Energy’s revenue declines in FY24

Entrackr

Entrackr · 1y ago

After 4X growth in FY23, Ather Energy’s revenue declines in FY24

Following over four-fold growth during the financial year ending March 2023, electric scooter manufacturer Ather Energy saw a modest 1.5% decline in scale during the previous fiscal year (FY24). Ather’s revenue from operations decreased to Rs 1,754 crore in FY24 from Rs 1,781 crore in FY23, as per disclosure made by its associate company Hero Moto Corp in NSE filings. The sale of scooters was the primary source of revenue for Ather while after-sale and subscription services were other income channels. The company has not revealed its cost breakup and losses for the fiscal year ending March 2024. The Tarun Mehta-led firm’s revenue jumped by 4.36X while its losses grew 2.5X to Rs 864.5 crore in FY23. Hero Moto Corp is an associate company of Ather and now controls nearly 42% stake with its recent investment of Rs 124 crore ($15 million) which materialized early this week. Ather has raised over $550 million to date and was valued at $750 million during its Series E round. As per Vahan data, Ather was the fourth largest two wheeler EV manufacturer which controlled 9.45% market share in May. Ola Electric maintained the top position followed by TVS and Bajaj. Ather sold 6,024 units in the last month, up from 4,000 units in April. In March, its total sales stood at 17,000 units. Besides selling electric scooters, Ather is also expanding its rapid charging network across the country. As of December last year, it had 1,600 charging stations with a plan to increase it to 2,500 by March 2024.

BII invests $100 mn in ReNew Energy’s solar manufacturing unit

VCCircle

VCCircle · 3m ago

BII invests $100 mn in ReNew Energy’s solar manufacturing unit

British International Investment (BII) has invested $100 million in ReNew Energy’s solar manufacturing unit in India. The funding will help create a new 4 GW cell facility in Gujarat, expanding ReNew's capacity to 6.4 GW of both modules and cells. This expansion, aimed at reducing India's import dependency and creating over 2,000 jobs, aligns with India’s solar supply chain goals under supportive regulatory frameworks. The facility will primarily serve ReNew's needs with surplus aimed at third-party sales.

Ather Energy’s Stagnation: What Stalled India’s OG EV Startup?

Inc42 · 1y ago

Ather Energy’s Stagnation: What Stalled India’s OG EV Startup?

Ather Energy, one of India's pioneering EV startups, has struggled to increase its market share in the past five years despite its early entry and technological advancements. While Ather has established manufacturing plants and charging stations, competitors like Ola Electric, TVS, and Bajaj have gained significant market share. Revised government policies and production challenges have hindered Ather's growth. However, a strategic partnership with Hero MotoCorp and a focus on customer service and value engineering may help the company turn things around and compete with its rivals.

EV maker Greaves Electric Mobility files for IPO

VCCircle

VCCircle · 7m ago

EV maker Greaves Electric Mobility files for IPO

Indian electric vehicle manufacturer Greaves Electric Mobility has announced its plans to raise INR 10 billion ($117.5 million) through an initial public offering (IPO). The company, known for its 'Ampere' brand of e-scooters and three-wheelers, aims to utilise the proceeds for product research and development, battery assembly capabilities, and to boost manufacturing capacity. Greaves Electric joins Ather Energy and Ola Electric Mobility in the growing trend of EV companies in India seeking to raise funds through IPOs.

Cosmic Birla Group plans to build EV facility in Bengal

Thehindubusinessline

Thehindubusinessline · 1y ago

Cosmic Birla Group plans to build EV facility in Bengal

Cosmic Birla Group, a Kolkata-based company, is planning to establish a production facility in West Bengal for electric two-wheelers. The group aims to extend its offerings to electric three-wheelers and cars in the commercial vehicle sector, with plans to produce three-wheelers by the financial year 2026-27. The production capacity of the facility in West Bengal is expected to be 15,000 vehicles per year. Cosmic Birla Group entered the electric mobility space by acquiring Raft Motors in Maharashtra and has recently launched four models of electric scooters under the brand Raft Cosmic EV.

Delhivery starts operations at largest logistics gateway facility in Bhiwandi

Economic Times

Economic Times · 1y ago

Delhivery starts operations at largest logistics gateway facility in Bhiwandi

Delhivery has opened its largest gateway facility in Bhiwandi, Maharashtra, which includes an automated hub, sortation, freight handling, and ecommerce returns operations. Spread over 1.2 million square feet, the terminal has 96 docking stations and is expected to handle over 8,000 tonnes of freight with 1,600 vehicles passing through daily. The facility was developed in collaboration with Falcon Autotech and is aimed at increasing capacity and efficiency for freight shippers in Mumbai and the West Zone. This is Delhivery's second large facility after Tauru in Haryana.

Ather Energy’s IPO sees 16% subscription on first day

Economic Times

Economic Times · 3m ago

Ather Energy’s IPO sees 16% subscription on first day

Ather Energy's IPO launched on April 28 received a 16% subscription, with 8.6 million bids out of 53 million shares available. Retail and non-institutional investor subscriptions were 0.63 and 0.16 times, respectively, while employee-reserved shares saw a 1.78 times subscription. The offering includes a fresh issue of Rs 2,626 crore and an offer for sale of up to 11 million shares, closing on April 30. Notable anchor investors include SBI, ADIA, and ICICI Prudential.

SKF India lines up investment of up to Rs 1,460 cr by 2030

Economic Times

Economic Times · 1m ago

SKF India lines up investment of up to Rs 1,460 cr by 2030

SKF India plans to invest up to Rs 1,460 crore by 2030 to expand its manufacturing capabilities in industrial and automotive segments. The investment will focus on facilities in Haridwar, Pune, and Bangalore, targeting a capacity increase for bearings, particularly for EV powertrains. This includes a new plant in Pune and a significant boost in Haridwar and Bangalore facility capacities. The company also considers a business demerger, expected to proceed by 2025.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.