MotoCorp has announced a new investment of up to Rs. 420 crore in Ather Energy.
The company’s board has approved the investment in one or more tranches. Prior
to the proposed investment, Hero MotoCorp’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.
on the development, Swadesh Srivastava,Head – Emerging Mobility Business Unit,
Hero MotoCorp said, “In keeping with our vision 'Be the Future of Mobility', we
are working on a variety of emerging mobility solutions. We were one of the
early investors in Ather Energy and have continued to expand our association
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 promise and make EV
ownership a convenient, hassle-free, and rewarding experience for customers
across the world.”
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
MotoCorp is addressing the emerging mobility opportunity in a comprehensive
manner through a range of organic and inorganic initiatives. It is gearing up to unveil its first Electric
Vehicle (EV) in the month of March this year. The vehicle is being developed at
the company’s world-class R&D set-up – the Center of Innovation and
Technology (CIT) in Jaipur and the Tech Center Germany (TGG) near Munich – and
will be produced at the company’s manufacturing facility at Chittoor in the southern
Indian state of Andhra Pradesh.
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.
and Emerging Mobility is a priority area for Hero MotoCorp and the company
continues to enhance its efforts in this direction.
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