Ather Energy has confirmed a staggering Rs 865 crore investment in the Shendra Phase of the Aurangabad Industrial City (AURIC).

The investment in AURIC is expected to establish a robust supplier ecosystem in the state.

The approval for the investment was granted by Chief Minister Eknath Shinde during a meeting of the cabinet sub-committee of the industries department on Wednesday.

Nitin Gupta, the president of the Chamber of Marathwada Industries and Agriculture, highlighted the efforts made by the CMIA to attract investments to Auric.

The Ather Energy project will introduce the EV market to the industrial sector in the city and pave the way for the establishment of several vendor companies in the district.

The CMIA had engaged in discussions with Ather Energy's founder, Tarun Mehta, co-founder Swapnil Jain, manufacturing head Sanjeev Kumar Singh, and director Murali Sasidharan regarding the proposed investment.