Hero MotoCorp increases equity share in Ather Energy
Jul 24, 2020
New Delhi [India], July 24 : Hero MotoCorp on Friday announced a further investment of Rs 84 crore in Ather Energy, taking up its shareholding in India's first intelligent electric scooter manufacturer to 34.58 per cent.
Earlier, Hero MotoCorp's shareholding in Ather Energy was 31.27 per cent. 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.'
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 are excited to see the growth of Ather Energy in the recent years," said Rajat Bhargava, Head of emerging mobility business unit, global business and strategy at Hero MotoCorp.
"We see immense potential for them to expand their market even further, especially given the likely growth of electric vehicles (EV) in the near future," he said in a statement.
In addition to developing a robust external eco-system for EVs, Hero MotoCorp is also aggressively working on its internal EV programme.
"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," said Bhargava.
