Shares of Ather Energy Ltd rose 1% to hit a day’s high of Rs 346.20 on 29th July, after the firm said it signed an MoU with the Commerce Ministry to accelerate clean mobility and advanced manufacturing under the Build in Bharat initiative, led by the Startup Policy Forum (SPF), according to a government statement today.

Ather Energy will mentor deep-tech startups and support infrastructure development for emerging EV players as part of its new tie-up with the government.

The collaboration focuses on advancing clean mobility and manufacturing, with Ather leading innovation programs with DPIIT, hosting skill development initiatives, and participating in Startup Mahakumbh to boost the EV ecosystem.

CEO Tarun Mehta stated that the initiative will help deep-tech startups overcome technological challenges and develop high-quality products from India. DPIIT’s Sanjiv Singh noted it will also drive EV manufacturing, battery innovation, and clean energy solutions.

Aligned with India’s climate goals, the partnership aims to create a self-reliant, manufacturing-focused ecosystem. SPF CEO Shweta Rajpal Kohli highlighted its importance under the ‘Build in Bharat’ initiative.

Meanwhile, Ather trimmed its March-quarter FY25 loss to Rs 234.4 crore, supported by strong demand for its ‘Rizta’ family scooters.

At 2:40 PM, the shares of Ather Energy were trading 1.27% higher at Rs 343.20 on NSE.

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