Hero MotoCorp has received an approval for investment of up to Rs 205 crore in one or more tranches, for approximately 26-30% shareholding in Ather Energy. The board of director at its meeting held on October 26, 2016 has approved for the same. The said strategic investment is subject to execution of definitive agreements and completion of certain conditions customary for a transaction of this nature. The company intends to enhance its participation in the EV space by pursuing its internal EV program in addition to partnering with Ather.
Ather Energy is a Bangalore-based technology start-up engaged in the business of designing and manufacturing smart Electric Vehicles (EV) and associated charging infrastructure.
Hero MotoCorp is an India-based holding company and a two-wheeler manufacturer. The Company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts and related services.
