Ether Energy ready to launch 2nd unit in Hosur | Dynamics

by time news

Hosur: Hosur-based Ether Energy is gearing up to launch its second unit with revenue of $ 100 million.

Ether Energy, an electric two-wheeler maker, is based at Madakondapalli near Hosur in Krishnagiri district. Both the ‘450 Plus’ and ‘450X’ models manufactured by the company are sold in over 27 cities, including Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Chennai, Coimbatore, Trichy and Kochi. As sales began to heat up, as of last October, revenue had reached $ 100 million, 12 times more than last year. Accordingly, Ether Energy is the largest maker of electric vehicles. In this regard, it is set to launch its second unit in Hosur soon. With this, the company plans to reach the production target of four lakh vehicles per annum.

Tarun Mehta, Co-Founder and CEO of the company, said: “Our retail business will grow six-fold in the coming quarters. Within 10 months of the company’s launch in Hosur, we already see it operating at full capacity. We are about to run a second plant that will be ready. With this capacity expansion, we are poised to become the largest electric vehicle manufacturer in the country within the next year. The company has pledged to invest Rs 650 crore over the next five years to improve performance and productivity. The company plans to expand to 150 centers in 100 cities by March 2023. Thus, he stated.



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