Tuesday, October 4, 2022
HomeAutoHero MotoCorp to invest up to Rs 420 cr in Ather Energy

Hero MotoCorp to invest up to Rs 420 cr in Ather Energy

New Delhi: The world’s largest motorcycle and scooter manufacturer Hero Motocorp (Hero MotoCorp) has Ather Energy (Ather Energy) has announced a new investment of up to Rs 420 crore. The company’s board has approved the investment in one or more tranches. Prior to the proposed investment, Hero MotoCorp’s stake in Ather Energy was 34.8 per cent (on a fully diluted basis). Post investment, the shareholding will increase and the exact shareholding will be determined upon completion of the capital raising round on behalf of Ather.

Speaking on the matter, Swadesh Srivastava, Head – Emerging Mobility Business Unit, Hero MotoCorp said, “In keeping with our vision to be the future of mobility, we are working on a variety of emerging mobility solutions. We at Ather Energy and have continued to expand our association over the years. We are excited to see the growth of Ather Energy in recent years. We aim to expand the promise of the Hero MotoCorp brand and take EV ownership around the world. To create a convenient, hassle free and rewarding experience for the customers.

Hero MotoCorp is an early investor in Ather Energy and has been a part of its growth story since 2016. The company is also exploring tie-ups with Ather Energy in various areas such as charging infrastructure, technology and sourcing.

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