Mumbai, June 26: Maharashtra Deputy Chief Minister Devendra Fadnavis on Wednesday announced that EV company Ather Energy is going to invest more than Rs 2,000 crore in a manufacturing facility in the state that will generate around 4,000 jobs.

In a post on social media platform X, Fadnavis said he met Swapnil Jain, Founder of Ather Energy, where he was informed about the “great decision.” “Ather Energy, the leading electric scooter manufacturer, has chosen Maharashtra for its third manufacturing facility in Aurangabad Industrial City (AURIC). Rivian’s Market Value Increases to USD 6 Billion, Share Price Jumps 50% After It Announces Joint Venture With Volkswagen Group.

It is a more than Rs 2,000 crore investment, generating employment of around 4,000,” Fadnavis posted. The state-of-the-art plant will annually produce up to 1 million units of vehicles and battery packs both. “This move underscores Maharashtra’s supportive business environment and robust policies for electric vehicle manufacturing, aligned with Prime Minister Narendra Modi’s vision for India’s industrial growth,” said the Deputy Chief Minister.

“With effective connectivity via the Samruddhi Expressway, investors are increasingly seeing the potential of this region. This significant investment will not only enhance Maharashtra’s role in the electric mobility revolution but also contribute to boosting employment opportunities across the state,” he added. Jain said that they were excited about the investments in Maharashtra.

“With our expanding product portfolio and the increasing consumer demand for our products, we decided to strategically diversify our production capabilities to an additional location that will be closer to more markets in the country,” he posted on X. “We are thankful to the Maharashtra government and its policies that foster EV manufacturing and growth,” Jain added. Tesla, Hyundai, Kia and Volkswagen To Voluntarily Recall 4,56,000 Vehicles for Faulty Auto Parts.

Founded in 2013 by IIT-Madras alumni Tarun Mehta and Jain, Ather Energy launched its first electric scooter, Ather 450, in 2018, which was followed by Ather 450X in 2020. Ather has also established a public charging network, with over 1,900 charging points across over 100 cities.

(The above story first appeared on LatestLY on Jun 26, 2024 08:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website