PROJECT

Projects

Summary of Investment Information

Project Number

47016

Company Name

ATHER ENERGY PRIVATE LIMITED

Date SPI Disclosed

Feb 22, 2023

Country

India

Region

South Asia

Projected Board Date

Mar 30, 2023

Environmental Category

B - Limited

Status

Hold

Last Updated Date

Nov 6, 2024

Department

Equity Portfolio Management

Industry

Manufacturing

Sector

Motor Bicycle (Including Bicycles)

Project Description

  The proposed project is an equity investment of up to US$25 million in Ather Energy Private Limited (“Ather Energy”), a private limited company domiciles in India. Ather Energy is India’s leading electric two-wheeler manufacturer. Ather is the first Indian EV manufacturer to design its own vehicle from scratch and has a strong control over its value chain, ranging from R&D and design to manufacturing and services. Between January to December 2022, Ather sold ~59K vehicles, registering a 224% growth yoy.                                                 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation