Companies

Hero MotoCorp raises stake in Ather Energy, invests ₹84 crore

Our Bureau New Delhi | Updated on July 24, 2020 Published on July 24, 2020

 

Hero MotoCorp on Friday said it has further invested ₹84 crore ($11 million) in Ather Energy, taking up its shareholding in the company to 34.58 per cent.

Before the investment, Hero MotoCorp’s shareholding in Ather Energy was 31.27 per cent.

Hero MotoCorp has been a part of Ather’s growth story since 2016, when it first invested as a part of Series B funding.

“We see immense potential for Ather to expand their market even further, especially given the likely growth of electric vehicles (EV) shortly. In addition to our efforts of developing an external ecosystem for EVs, we are also aggressively working on our internal EV programme,” Rajat Bhargava, Head of Emerging Mobility Business Unit, Global Business and Strategy, Hero MotoCorp, said.

 

The announcement comes close on the heels of several new strategic decisions taken by the company towards achieving its vision to “Be the Future of Mobility”.

"Our aim is to provide accessible electric mobility to customers across the globe. Sustainability and clean, green environment remain central to our vision to be the future of mobility," Bhargava added.

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Published on July 24, 2020
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