Hero’s electric bike-scooter will fill up, invest Rs 420 crore in EV startup

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Hero MotoCorp News: Hero MotoCorp, the world’s largest motorcycle and scooter maker, has invested Rs 420 crore in electric vehicle startup Ather Energy. The Board of Hero MotoCorp Company has approved the investment in one or more tranches. Prior to this investment, Hero MotoCorp’s stake in Ather Energy was 34.8 per cent. The stake will increase further after the investment.

Swadesh Srivastava, Head, Emerging Mobility Business Unit, Hero MotoCorp, said, “We were one of the early investors in Ather Energy and have continued to expand our investments over the years. We are excited to see the growth of Ather Energy in recent years. Our aim is to expand the Hero MotoCorp brand and create EV ownership.

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one of the early investors
Hero MotoCorp is an early investor in Ather Energy and has been a part of its growth story since 2016. Hero MotoCorp is also exploring tie-up with Ather Energy in various areas like charging infrastructure, technology and sourcing.

Ather Energy is engaged in the business of Designing, Manufacturing, Manufacturing, Sales, Servicing, Software Development and Software Management in relation to Electric Automobiles and Charging Infrastructure in the year 2013.

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Hero MotoCorp is all set to launch its first Electric Vehicle (EV) in the month of March this year. Research and research work for electric vehicles is being developed at the Center of Innovation and Technology (CIT) in Jaipur and the Tech Center Germany (TGG) near Munich. The electric vehicle will be manufactured at the company’s manufacturing unit in Chittoor.

Tags: Electric Scooter, Electric Vehicles, Hero motocorp

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