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Outcome of Board Meeting

| Updated on October 27, 2016 Published on October 27, 2016

Hero MotoCorp Ltd has informed BSE that the Board of Directors of the Company, in its meeting held on October 26, 2016, approved an investment of up to Rs 205 crore, in one or more tranches, for approximately 26-30% shareholding in Ather Energy Private Limited. Ather is a Bangalore-based technology start-up engaged in the business of designing and manufacturing smart Electric Vehicles (EV) and associated charging infrastructure. The said strategic investment is subject to execution of definitive agreements and completion of certain conditions customary for a transaction of this nature.

As the market leader and a global automotive major, Hero MotoCorp takes the lead in many areas that benefit the environment, customer and the industry. Adoption of environment-friendly fuel is a priority for Hero MotoCorp, as is propagating sustainable manufacturing through green facilities. Hero MotoCorp intends to enhance its participation in the EV space by pursuing its internal EV program in addition to partnering with Ather.

Pdf Link: >Outcome of Board Meeting

Source : BSE - >www.bseindia.com

Published on October 27, 2016
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