Hero MotoCorp has received an approval for an investment of up to Rs 420 crore in one or more tranches, in Ather Energy. Prior to the proposed investment, the company’s shareholding in Ather Energy was 34.8% (on a fully diluted basis). Post the investment, the shareholding will increase and the exact shareholding will be determined upon completion of capital raise round by Ather. The investment is subject to execution of definitive documents and completion of certain conditions customary to a transaction of this nature.
Hero MotoCorp is an early investor in Ather Energy and has been a part of its growth story since 2016. The company is also exploring collaborations with Ather Energy in various spheres, such as charging infrastructure, technology and sourcing. Through its investments and partnerships with external partners like Ather Energy and Gogoro Inc., Hero MotoCorp is also working towards building the entire EV ecosystem –from products to technology, to sales, service, customer care, operations, and innovation.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
