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Hero MotoCorp to Invest ₹550 Crore in Ather Energy: Powering the Future of Electric Mobility

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Hero MotoCorp, one of India’s leading two-wheeler manufacturers, is strengthening its commitment to the electric vehicle (EV) revolution by announcing a significant investment in Ather Energy. The company’s board, during its meeting on September 4, 2023, approved an investment of up to ₹550 crore in Ather Energy’s Rights issue. This investment will further solidify Hero MotoCorp’s position as a key stakeholder in Ather Energy, with a pre-investment shareholding of 33.1%.

Ather Energy, a prominent EV manufacturer based in Bengaluru, has been making waves in the EV industry. They recently launched their entry-level electric scooter, the 450S, boasting impressive features such as a 2.9 kWh battery capacity, a 115-kilometer range, and a top speed of 90 km/hour. With Hero MotoCorp’s backing, Ather Energy aims to double its market share to 30-40% in the 125cc category, as they continue to expand their charging network through partnerships with companies like Bharat Petroleum Corporation Limited (BPCL).

This strategic investment comes at a pivotal time as Ather Energy gears up for a potential IPO in 2024, marking a significant milestone in the electrification of India’s transportation landscape.