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NEW DELHI: Hero MotoCorp on Friday announced that it has increased its equity share in the Indian electric scooter manufacturer, Ather Energy. Hero MotoCorp will be further investing Rs 84 crore in Ather Energy, taking up the shareholding in the company to 34.58%.
Before this announcement, Hero MotoCorp’s shareholding in the electric scooter manufacturer was 31.27%.
The investment comes at a time when Hero MotoCorp has adopted the new vision to “Be the Future of Mobility”.
Hero MotoCorp has been a part of Ather Electric’s growth since 2016, when the first investment was made as a part of Series B funding.
“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,” said Rajat Bhargava, Head of Emerging Mobility Business Unit (EMBU), Global Business & Strategy, Hero MotoCorp.

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