Hero Bumps Up Stake In Aether Energy To 34.58% , Invests Another INR 84 crores

Hero MotoCorp, today announced a further investment of Rs 84 crore (US$11million) in Ather Energy, taking up its shareholding in the Company to 34.58%. Prior to the investment, Hero MotoCorp’s shareholding in Ather Energy was 31.27%. The announcement comes following the lead of  several new strategic decisions taken by the Company towards achieving its vision to “Be the Future of Mobility” .

Commenting on the investment, Rajat Bhargava, Head of Emerging Mobility Business Unit (EMBU), Global Business & Strategy, Hero MotoCorp, said “We are excited to see the growth of Ather Energy in the recent years. 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. In addition to our efforts of developing a robust external eco-system for EVs, we are also aggressively working on our internal EV program. 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.”

Hero MotoCorp has been a major  Investors of Ather since 2016, when it first invested as a part of Series B funding.