Travel pass: Pros may outweigh cons
IATA’s mobile application will allow travellers to store and manage certifications for Covid-19 tests or ...
The decision of Ather Energy, India’s first intelligent electric vehicle manufacturer, to move its ₹635-crore factory from Bengaluru to Hosur was based on fiscal sops, better logistics and easier access to its supplier base, a top executive from the company has said.
The factory is supported by the Government of Tamil Nadu under its EV Policy. The support includes reimbursement of SGST on electric vehicle manufacturing; capital subsidy for battery manufacturing; employment incentive in terms of reimbursement of EPF for a period of one year; exemption from payment of Electricity Tax till 2025 and 100 per cent stamp duty exemption, said Tarun Mehta, co-founder and CEO, Ather Energy.
Ather 450X e-scooter launched in more markets
He said, given that this is the company’s first large set-up, they wanted to keep the plant within comfortable driving distance of the head office located near Dairy Circle, Koramangala.
“An engineer should be able to get out of the office and be at the plant in 60-90 minutes. It takes 70 minutes to get to the Hosur plant, which is 45 km away. We can literally get out of office and within five minutes we are on the Electronics City flyover, and it’s a straight road thereafter to the plant. Contrast this with our plant in Whitefield, Bengaluru, which is just 20 km away from our head office but takes 105 minutes to get to, because we are cutting through the city to get there.”
Electric vehicle demand prospects drive cobalt to near $50,000 a tonne
Another reason for the move to Hosur is that a significant chunk of the company’s suppliers is already based in Hosur. “We were also able to move some of our Tier-2 suppliers, who make small components for us, to Hosur. So, that also played a big part for us to move here,” said Mehta.
With capacity to produce 1,10,000 scooters annually, the plant will serve as Ather Energy’s national manufacturing hub, catering to demand from across the country. This is nearly 10 times the capacity of the Whitefield, Bengaluru, plant. The company has already invested ₹130 crore in phase 1 of its plant, which is part of the total investment commitment of ₹635 crore over the next five years.
“There is an additional 2.5 lakh sq ft of land which we will most likely take up in the next two years, once the existing capacity is fully utilised. We will extend the plant into a 4-lakh sq ft capacity in phase 2,” said Mehta.
Besides EV manufacturing, the plant will also focus on lithium-ion battery manufacturing, which is a key focus area for the company, going ahead. The plant currently employs 300-plus people and is expected to generate 4,000 direct and indirect jobs in the next five years. The Ather 450X and Ather 450 Plus are completely made in India — designed in Bengaluru. Ather has confirmed deliveries and presence across 27 cities in 15 States and is likely to expand to 40 cities by the end of 2021.
IATA’s mobile application will allow travellers to store and manage certifications for Covid-19 tests or ...
A 2010 Act to regulate the medical sector flounders in implementation, even as healthcare remains ...
The scheme to boost local medtech manufacturing is timely, especially given the raging pandemic. But ...
Do pilots sleep on their job?
Fiscal stimulus, friendly monetary policy and firm commodity prices point towards normalcy, says the MD and ...
Price correction is a good opportunity for long-term investors to take the plunge
Q4 earnings, along with progress in controlling Covid-19 spread, will be in focus
Do keep in mind that premium may go up in case one of the members has a pre-existing condition
In an age of falling female workforce participation, worsened by the Covid-19 pandemic, policy makers and ...
Of an injured baby goat, young men on motorcycles and political tensions
It’s the birthday of Muttiah Muralitharan — the man who took a staggering 800 test wickets. What better way to ...
An ode to writer and great-uncle Ved Mehta, and Ekarat, the friend who wrote and quit on his own terms
Monotype’s 2021 type trends report points to a return to hand and the familiar
As ‘ear-points’ between a company and a customer grow, we are witnessing a rise in audio assets
‘Desi Twitter challenger’ Koo on connecting like-minded folks
Coca-Cola has just introduced an oat milk line in the US under its Simply brand. Smart move, say industry ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor