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EV maker Ather opens outlet in Delhi, plans PE funding for expansion plans

PTI   Business Standard  

Bengaluru-based electric vehicle maker Ather Energy is looking to raise funds from PE firms and other investors sometime this year for its expansion plans. Last week, it entered the Delhi market with a retail outlet in the Lajpat Nagar neighbourhood. The EV maker is looking to expand the number of fast charging points across the country from the present 142 to 500 by the end of this fiscal. Also, over the next 4-5 years it plans to invest around INR 650 crore in its Hosur plant.

From the Venture Intelligence PE-VC Deal Database: Between Mar-15 and Nov-20, Ather Energy raised over $78-M from Hero Motocorp, Sachin Bansal, InnoVen Capital and Tiger Global. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)