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An announcement from Ather Energy Limited ( (IN:ATHERENERG) ) is now available.
Ather Energy Limited announced a temporary deferral of claims under the PM E-DRIVE scheme due to supply chain disruptions caused by China’s export ban on certain heavy rare earth magnets. This situation has led to temporary adjustments in their manufacturing process, potentially affecting incentives for up to 52,500 vehicles. The company is in discussions with the Ministry of Heavy Industries for an exemption and has developed a Heavy Rare Earth Free motor, receiving necessary approvals, demonstrating its commitment to compliance and the Make in India initiative.
More about Ather Energy Limited
Ather Energy Limited operates in the electric vehicle industry, focusing on the production of electric scooters. The company is known for its commitment to innovation and sustainability, with a market focus on promoting environmentally friendly transportation solutions.
Average Trading Volume: 171,107
Technical Sentiment Signal: Strong Buy
Learn more about ATHERENERG stock on TipRanks’ Stock Analysis page.