Ather Energy (~38% stake held by Hero MotoCorp) plans to expand manufacturing capacity in India

News: According to media sources, Hero MotoCorp has invested in Ather Energy plans to expand its manufacturing footprint from 1.2 lakh units per annum domestically to 4 lakh units per annum within the next one year.

Views: Ather Energy has been at the forefront of electrification drive domestically with its electric scooter, one of the best-selling quality conscious product. With strong impetus from central and state government, transition towards electrification is expected to further pick-up pace and hence expansion in manufacturing capacity is the step in the right direction. The Street, however, awaits own EV product launch by the company.

Impact: Neutral