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					</table><p><a href="https://bounceinfinity.com/home.html" target="_blank" rel="noopener">Bounce Infinity</a>, the electric vehicle (EV) manufacturing arm of Bounce announced the launch of electric two-wheelers on the e-commerce marketplace <a href="https://www.flipkart.com/" target="_blank" rel="noopener">Flipkart</a>. This is a joint effort to offer a seamless purchase experience to customers.</p>
<p>Bounce&#8217;s Infinity e.1 electric two-wheeler with smart features will be available on Flipkart from July 22. The vehicles will be delivered within 15 days to the customers&#8217; doorstep. In the initial phases, customers across New Delhi, Gujarat, Karnataka, Telangana, and Maharashtra can access the product while getting benefits of the state subsidies.</p>
<p>Bounce believes that electric scooter distribution will be an omni-channel play, and e-commerce will play a crucial role in its geographical expansion and bringing customer delight. Bounce aims to democratize EV purchases in India seamlessly and offer a hassle-free purchase and easy transition to affordable, economical, and greener mobility.</p>
<p>Once an order for the Bounce Infinity scooter is placed on Flipkart, the brand-authorized dealer will reach out to the customers within 15 days of booking for RTO registration, insurance, and delivery of the scooter. Customers will also have the option to reach out to Bounce Infinity Customer Experience Team to get real-time tracking updates on the order.</p>
<p>&#8220;We are delighted to make our products available on Flipkart as we find synergies in our vision of fulfilling customers&#8217; evolving requirements in a seamless manner,&#8221; said Vivekananda Hallekere, CEO &amp; Co-Founder, of Bounce Infinity.</p>
<p>Through this initiative, Flipkart confirms its commitment to bringing market access for sellers and direct-to-consumer brands through its technology platform, enabling them to reach out to millions of customers across the country.</p>
<p>&#8220;This also ties into Flipkart&#8217;s larger vision of promoting sustainable brands, and the collaboration will set the premise for newer product integrations for the industry in the near future,&#8221; said Rakesh Krishnan, Senior Director, Electronics, Flipkart.</p>
<p>Earlier, Flipkart had announced <a href="https://mercomindia.com/daily-news-wrap-up-flipkart-joins-electric-mobility/" target="_blank" rel="noopener">joining</a> the Climate Group&#8217;s electric mobility initiative EV100 with a commitment to support the broader adoption of EVs.</p>
<p>With rising consumer enthusiasm, government incentives, and falling costs, EVs are <a href="https://mercomindia.com/ev-gear-up-breakthrough-year-2022/" target="_blank" rel="noopener">expected</a> to gear up for a breakthrough year in 2022.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/vijayalakshmi-sridhar/" class="vcard author" rel="author"><span class="fn">Vijayalakshmi Sridhar</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/07/New-Project-6.jpg" width="77" height="102" /> <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">Vijayalakshmi</a> is a staff reporter at MercomIndia.com. She has two decades of experience as an independent journalist and features writer, and her work is featured across various publications and genres such as business, food, and clean energy. <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">More articles from Vijayalakshmi</a>.</p>
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Bounce Infinity Launches its Electric Two-Wheelers on Flipkart


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>NTPC </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/f18fb14b-e06f-4c47-97c8-035138b7b231.pdf" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the commissioning of the last part capacity of 35 MW out of 92 MW Kayamkulam Floating Solar photovoltaic project in Kerala.</strong> The last two parts, 35 MW and 22 MW, were commissioned in May and March this year. NTPC’s standalone installed and commercial capacity now stands at 54.75 GW, and the group’s installed and commercial capacity is at 69.11 GW.</p>
<p><strong>The Flipkart Group </strong><a href="https://storiesflistgv2.blob.core.windows.net/stories/2022/06/Flipkart-Group-commits-to-Net-Zero-carbon-emissions-by-2040-1.pdf" target="_blank" rel="noopener"><strong>committed</strong></a><strong> to setting a net-zero target to decarbonize its operations by 2030 and the larger value chain by 2040.</strong> As part of this commitment, Flipkart will take measures to reduce 100% of emissions by 2030 by increasing energy efficiency at its corporate office and supply chain facilities and powering its energy requirements through renewable sources such as solar. The company recognizes that much of the climate impact comes from its extended value chain of suppliers, waste in operations, transportation and logistics, and product end-of-life. It will also work with its sellers, consumers, and partners to achieve net-zero emissions by 2040.</p>
<p><strong>Uniper, a Germany-based energy company, and direct marketer, Sunnic Lighthouse, a subsidiary of ENERPARC, </strong><a href="https://www.uniper.energy/news/uniper-and-sunnic-lighthouse-gmbh-conclude-long-term-purchase-agreement-for-solar-power" target="_blank" rel="noopener"><strong>concluded</strong></a><strong> a framework agreement to purchase electricity from solar power plants.</strong> The deal allows Uniper to purchase approximately 208 GWh annually from 53 solar parks distributed throughout Germany with an installed capacity of around 198 MW. Deliveries of green power by Sunnic Lighthouse to Uniper will start in July 2022 and run until the end of 2027.</p>
<p><strong>Air Liquide </strong><a href="https://group.vattenfall.com/press-and-media/pressreleases/2022/vattenfall-and-air-liquide-sign-long-term-electricity-supply-agreement-for-offshore-wind" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a long-term Power Purchase Agreement (PPA) with Vattenfall for 115 MW or around 500 GWh per year of renewable electricity from the offshore wind farm Hollandse Kust Zuid.</strong> This PPA comes in addition to a 100 GWh-PPA with Air Liquide announced in March 2021, expanding the long-term partnership. The 15-year PPA starting in 2025 enables Air Liquide to supply its existing industrial and medical gas production assets in the Netherlands. Hollandse Kust Zuid is located in the North Sea, about 18-35 kilometers off the Dutch coast between The Hague and Zandvoort. The offshore wind project, consisting of 140 wind turbines with a capacity of 1.5 GW, is scheduled to be fully operational in 2023. Hollandse Kust Zuid is owned by Vattenfall, BASF and Allianz.</p>
<p><strong>BASF </strong><a href="https://www.basf.com/in/en/media/news-releases/asia-pacific/2022/06/p-22-249.html" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it would build a commercial-scale battery recycling black mass plant in Schwarzheide, Germany, to strengthen BASF’s cathode active materials (CAM) production and recycling hub</strong> in the region. The site is considered an ideal location for building battery recycling activities, given the presence of many EV car manufacturers and cell producers in Central Europe. The investment is expected to create about 30 new production jobs, with an operation date planned for early 2024. Black mass production is the first step in the battery recycling process and is based on the mechanical treatment of the batteries. The black mass contains high amounts of the critical metals used to produce CAM: lithium, nickel, cobalt, and manganese. It is expected to be the feedstock for the commercial hydrometallurgical refinery for battery recycling that BASF plans to build in the middle of this decade. The annual processing capacity of the plant would be 15,000 tons of EV batteries and production scrap.</p>
<p><strong>Redwood Materials, a U.S.-based battery manufacturing and recycling company </strong><a href="https://www.redwoodmaterials.com/press/redwood-materials-and-toyota-collaborate-on-electric-vehicle-battery-collection" target="_blank" rel="noopener"><strong>announced</strong></a><strong> it would work with Toyota Motor North America </strong>to create a battery ecosystem across Toyota’s line-up of electrified vehicles that encompasses all steps for full circularity. Toyota and Redwood will create a truly closed-loop solution for batteries. Initially, they would focus on testing and recycling Toyota batteries, creating end-of-life pathways for the original hybrid electric vehicles. They also aim to expand into other areas, including battery health screening and data management, remanufacturing, and battery material supply throughout North America.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/satish-shetty/" class="vcard author" rel="author"><span class="fn">Satish Shetty</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Satish Shetty,</strong> Associate Editor at Mercom India<br />
<a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener">More articles from Satish Shetty.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener"><strong style="color: #00b451">Satish Shetty</strong></a> is an Associate Editor with Mercom India. Prior to Mercom, Satish was a multimedia news producer at Reuters, where he gained experience in digital news media. Satish has his Bachelor of Arts (B.A.) degree in Broadcast Journalism from Limkokwing University of Creative Technology, Malaysia.<br />
<a href="https://mercomindia.com/author/satish-shetty/" rel="noopener noreferrer">More articles from Satish Shetty.</a></div>
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Daily News Wrap-Up: NTPC Commissions Last Part of 92 MW Floating Solar Project

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Flipkart announced that it has partnered with Mahindra Logistics Limited, one of its key logistics partners, to help fast-track the deployment of electric vehicles across its logistics fleet in the country.</strong> Flipkart has committed to 100% electric mobility in its logistics fleet and will deploy more than 25,000 EVs by 2030. Mahindra Logistics will play a significant role in working with various original equipment manufacturers and help Flipkart’s sustainable transition to EVs.</p>
<p><strong>Alfa Laval has </strong><a href="https://www.prnewswire.com/news-releases/alfa-laval-becomes-partner-in-unique-power-to-x-consortium-to-produce-renewable-clean-fuels-301262640.html" target="_blank" rel="noopener"><strong>become</strong></a><strong> a partner in the Swedish company Liquid Wind, which develops electro-fuel facilities to produce renewable clean fuels.</strong> Alfa Laval will be part of the Liquid Wind board and contribute with its heat transfer expertise to improve the process efficiency and the overall heat and energy integration. Liquid Wind is a Power-to-Fuel company that develops and finances commercial-scale eMethanol facilities.</p>
<p><strong>The London-listed investment company Aquila European Renewables Income Fund PLC, which is advised by Aquila Capital Investmentgesellschaft mbh, </strong><a href="https://polaris.brighterir.com/public/aquila_european/news/rns/story/xo4lo2r" target="_blank" rel="noopener"><strong>announced</strong></a> that it has entered into a sale and purchase agreement to acquire 50% of the equity in an unlevered Portuguese solar operating asset (Ourique). The closing of the transaction is expected to occur in April 2021. Ourique is located in Alentejo, Portugal, and has an installed capacity of c.60 MWp.</p>
<p><strong>Global energy and industrial majors have come together to </strong><a href="https://www.globenewswire.com/news-release/2021/04/06/2204880/9318/en/Energy-transition-coalition-India-H2-Alliance-formed-by-industry-majors.html" target="_blank" rel="noopener"><strong>form</strong></a><strong> a new energy transition coalition, the India H2 Alliance (IH2A), focusing on commercializing hydrogen technologies </strong>and systems to build net-zero carbon pathways in India. The India H2 Alliance will work together to build the hydrogen economy and supply chain in India and help develop blue and green hydrogen production and storage and build hydrogen-use industrial clusters and transport use-cases with hydrogen-powered fuel cells.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rahul-nair/" class="vcard author" rel="author"><span class="fn">Rahul Nair</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p>Rahul is a staff reporter at Mercom India. Before entering the world of renewables, Rahul was head of the Gujarat bureau for The Quint. He has also worked for DNA Ahmedabad and Ahmedabad Mirror. Hailing from a banking and finance background, Rahul has also worked for JP Morgan Chase and State Bank of India. <a href="https://mercomindia.com/author/rahul-nair/" rel="noopener noreferrer">More articles from Rahul Nair.</a></p>
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Daily News Wrap-Up: Flipkart Ties Up with Mahindra Logistics to Accelerate EV Deployment

<p><a href="https://www.flipkart.com/" target="_blank" rel="noopener">Flipkart</a>, a Bengaluru-based e-commerce company, has said that it would deploy over 25,000 electric vehicles (EVs) across its supply chain by 2030 as a part of its commitment to achieving a 100% transition to electric mobility by 2030.</p>
<p>The company has joined hands with Hero Electric, <a href="https://www.mahindraelectric.com/" target="_blank" rel="noopener">Mahindra Electric</a>, and <a href="https://piaggio-cv.co.in/" target="_blank" rel="noopener">Piaggio</a> to procure electric vehicles for its delivery fleet across the country.</p>
<p>The fleet will include locally designed and assembled electric two-wheelers, three-wheelers, and four-wheelers. The company will also install charging infrastructure near its 1,400 supply chain facilities, conduct awareness programs, and support delivery executives to use EVs.</p>
<p>In August 2020, Flipkart <a href="https://mercomindia.com/daily-news-wrap-up-flipkart-joins-electric-mobility/" target="_blank" rel="noopener">joined </a>the Climate Group’s electric mobility initiative EV100 with a commitment to support the broader adoption of EVs<strong> </strong>into its entire fleet across its value chain by 2030.</p>
<p>The company has already deployed electric two-wheelers and three-wheelers for delivery across the country, including Delhi, Bengaluru, Hyderabad, Kolkata, Guwahati, and Pune.</p>
<p>Amitesh Jha, Senior Vice President Ekart and Marketplace, Flipkart, said, “Electrification of the logistics fleet is a key part of Flipkart’s larger sustainability goal and in line with our commitment to the Climate Group’s EV100 initiative. In this journey of making our logistic fleets completely electric by 2030, we will collaborate and work with leading local players to procure and deploy electric vehicles while supporting the required infrastructure growth.”</p>
<p>Sohinder Gill, Chief Executive Officer of <a href="https://heroelectric.in/" target="_blank" rel="noopener">Hero Electric</a>, said, “The partnership with Flipkart is a game-changer and help transform a significant number of their fleet of EVs, and encourage the e-commerce industry to actively adopt EVs.”</p>
<p>Flipkart said that it had taken several initiatives like increasing the use of renewable energy, reducing single-use plastic packaging, waste management, and energy efficiency practices to adopt sustainable business practices across its value chain.</p>
<p>Last year, e-commerce giant Amazon India <a href="https://mercomindia.com/amazon-add-10000-electric-vehicles-2025/" target="_blank" rel="noopener">announced</a> that its fleet of delivery vehicles in the country would include 10,000 electric vehicles (EVs) by 2025.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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Flipkart to Deploy Over 25,000 Electric Vehicles in its Supply Chain by 2030

<p>Here are some noteworthy cleantech news and announcements of the day from around the world:</p>
<p><strong>The technical commission delegated by the Ministry of Energy and Non-Renewable Energy Resources of Ecuador has <a href="https://www.recursosyenergia.gob.ec/5-empresas-fueron-habilitadas-para-el-proceso-de-seleccion-del-proyecto-fotovoltaico-conolophus/" target="_blank" rel="noopener noreferrer">authorized</a></strong><strong> five international companies</strong> to participate in the public selection process for the 15 MW Colonophus solar project. The list included companies like Canadian Solar Conolophus, GranSolar-Total EREN, Voltalia SA, Woojin Industrial System, and Scatec Solar – Energy Flex. The project will require a total investment of around $45 million, and the concession term of the project is 25 years. The 15 MW project is equipped with 40 MW of energy storage systems. The generated electricity will be supplied to Baltra-Santa Cruz electrical system.</p>
<p><strong>Shell, a global energy company, has <a href="https://www.shell.com/covid19/shell-contributes-to-support-access-to-energy.html" target="_blank" rel="noopener noreferrer">granted</a></strong><strong> $1.7 million (~₹126.32 million) to six electricity providers in India, Kenya, Nigeria, Sierra Leone, Uganda, and Tanzania</strong> to support consumers during financial difficulties caused by the COVID-19 pandemic. According to the press release, consumers of SolarNow, Orb Energy, Husk Power Systems, PowerGen, and d.light would be benefited through Shell’s grant. The company stated that the grant would also be utilized for the installation of solar power systems in hospitals and schools.</p>
<p><strong>Flipkart, a Bangalore-based e-commerce company, has <a href="https://storiesflistgv2.blob.core.windows.net/stories/2020/08/Final-Press-Release_EV100-announcement-25.07.20.pdf" target="_blank" rel="noopener noreferrer">joined</a></strong><strong> the Climate Group’s electric mobility initiative EV100 with a commitment to support the broader adoption of electric vehicles (EVs)</strong> into its entire fleet across its e-commerce value chain by 2030. The company said that this would be done through placing requirements in service contracts, installing charging infrastructure close to its 1,400 supply chain premises, and incentivizing its delivery executive towards the use of EVs. The e-commerce firm stated that it is also committed to reducing the consumption of single-use plastic packaging in its supply chain.</p>
<p><strong>Hong Kong-based GCL-Poly Energy Holdings <a href="http://media-gclpoly.todayir.com/2020082116480128609407745_en.pdf" target="_blank" rel="noopener noreferrer">informed</a></strong><strong> its shareholders that it is likely to incur a net loss of at least 1.5 billion RMB (~$217 million) in the first half of 2020. </strong>This is in contrast with the net loss of 751 million RMB (~$108.65 million) for the same period last year. The company said that the expected rise in the net loss was due to the decline in sales of wafers, impairment on assets, and a decrease in aggregate capacity of the company’s solar power projects due to the disposal of subsidiaries.</p>
<p><strong>Dubai International Academic City and Dubai Outsource City, part of TECOM Group, <a href="https://www.enova-me.com/press-releases/dubai-international-academic-city-dubai-outsource-city-complete-solar-pv-carports" target="_blank" rel="noopener noreferrer">declared</a></strong><strong> that they had completed the work on two solar photovoltaic carports in partnership with Enova.</strong> The company said that both projects would generate 4.25 GW of solar electricity while reducing 3,000 tons of carbon dioxide emissions annually. The 1.6 MW of solar carport in Dubai Outsource City is expected to satisfy 98% of the energy requirements of the community. The 1.1 MW of solar carport in Dubai International Academic City is likely to provide solar power to 12 university buildings.</p>
<p><strong>Australia-based Edify Energy and Octopus Investments <a href="https://edifyenergy.com/news/the-largest-solar-farm-connected-to-the-national-electricity-market-is-live/" target="_blank" rel="noopener noreferrer">said</a></strong><strong> that the Darlington Point solar project had completed the generation registration process.</strong> The Darlington Point project is located in South-West New South Wales and has a total capacity of 275 MW (AC) and 333 MW (DC). It is currently the largest solar project connected to the National Electricity Market. The company said that the project is expected to enhance the system strength with two synchronous condensers for the power grid in a critical area.</p>
<p><strong>FIMER, a global inverter provider, announced that it had commissioned an 8 MW solar project with a 5 Megavolt Ampere (MVA) central inverter for Andhra Pradesh-based SLP Spilling Mills Private Limited.</strong> The project is situated at Nellore, Andhra Pradesh. The company said that the 8 MW solar project would be equipped with two units of 5 MVA central inverters.</p>
<p>Here is our <a href="https://mercomindia.com/daily-news-wrap-up-amplus-trades-gtam/" target="_blank" rel="noopener noreferrer">previous</a> daily news wrap-up.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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Daily News Wrap-Up: Flipkart Joins Climate Group’s Electric Mobility Initiative EV100

<p><a href="https://www.heromotocorp.com/en-in/" target="_blank" rel="noopener noreferrer">Hero MotoCorp</a>, a leading manufacturer of motorcycles and scooters, has announced that it has invested ₹840 million (~$11.25 million) in <a href="https://www.atherenergy.com/" target="_blank" rel="noopener noreferrer">Ather Energy</a>.</p>
<p>According to a BSE filing, with this latest investment, Hero MotoCorp’s share in Ather Energy has increased to 34.58%.</p>
<p>This is not the first time Hero MotoCorp has invested in Ather Energy. Before this latest round of investment, Hero MotoCorp’s shareholding in the electric scooter manufacturer was 31.27%. In 2016, the global automotive giant had also invested in Ather as part of the Series B funding.</p>
<p>Speaking on this latest round of investment, Rajat Bhargava, Head of Emerging Mobility Business Unit (EMBU), Global Business and Strategy at Hero MotoCorp, said, “We are excited to see the growth of Ather Energy in the recent years. We see immense potential for them to expand their market even further, especially given the likely growth of electric vehicles (EVs) in the near future. In addition to our efforts to develop a robust external eco-system for EVs, we are also aggressively working on our internal EV program. Our aim is to provide accessible electric mobility to customers across the globe. Sustainability and clean, green environment remain central to our vision to be the future of mobility.”</p>
<p>Ather Energy was founded in 2013 by IIT Madras alumni, Tarun Mehta, and Swapnil Jain. The company is backed by founders of Flipkart, Tiger Global, Hero Motocorp, among others.</p>
<p>Last year, Ather Energy had <a href="https://mercomindia.com/electric-scooter-ather-energy-raises-51-million/" target="_blank" rel="noopener noreferrer">raised</a> $51 million (~₹3.79 billion) with Flipkart’s co-founder Sachin Bansal bringing in $32 million (~₹2.38 billion). Ather Energy was one of the earliest start-up investments of Sachin Bansal when he invested $500,000 (~₹37.23 million) in the firm as an angel investor in 2014. Hero MotoCorp had used its convertible debt of $19 million (~₹1.41 billion) for the round.</p>
<p>In December last year, Ather Energy had <a href="https://mercomindia.com/ather-energy-ev-li-ion-battery-tamil-nadu/" target="_blank" rel="noopener noreferrer">announced</a> that it had signed a memorandum of understanding (MoU) with the government of Tamil Nadu to set up a two-wheeled electric vehicle and lithium-ion battery manufacturing facility. The 400,000 square feet factory would be located at Hosur. Ather previously said that it had plans to expand its products and services to 30 more cities over the next few years.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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