Hero MotoCorp Invests INR 124 Cr to Expand Stake in Ather Energy In the past nine months, Hero MotoCorp has made three investments in the Bengaluru-based company.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Hero MotoCorp announced that it will pay INR 124 crore to acquire a 2.2% stake in the electric scooter maker Ather Energy.
In the past nine months, Hero MotoCorp has made three investments in the Bengaluru-based company.
For INR 140 crore (USD 16.8 million), Hero MotoCorp purchased a 3% share in Ather Energy in December. Hero MotoCorp currently holds a 39.7% stake in Ather Energy.
This news follows Ather Energy's USD 34.5 million debt and equity fundraising.
Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather Energy currently manufactures electric scooters known as the Ather 450 Apex, Ather 450S, Ather 450X, Ather 450X Pro, and Ather Rizta.
The EV manufacturing company comprises more than 2,500 charging stations located in 230 locations.
With support from HeroMoto Corp, Tiger Global, and GIC, the platform has sold over 1.73 lakh electric scooters to date.
