Hero MotoCorp, India’s largest two-wheeler manufacturer, has announced a strategic investment of Rs 550 crore in Ather Energy, a leading electric scooter maker. The investment will be made through Series E2 compulsory convertible preference shares.
This investment is a major endorsement of Ather Energy’s technology and business model. It also demonstrates Hero MotoCorp’s commitment to the electric vehicle (EV) segment.
Ather Energy is known for its high-quality electric scooters and its focus on customer experience. The company has a strong presence in the major cities of India and is rapidly expanding its reach.
Hero MotoCorp’s investment will help Ather Energy to accelerate its growth and develop new products and services. It will also help the company to expand its distribution network and reach more customers.
The investment is a significant development for the Indian EV market. It shows that the leading players in the two-wheeler industry are taking the EV revolution seriously. It is also a positive sign for the government’s efforts to promote EVs.
The investment is expected to boost the adoption of electric two-wheelers in India. Ather Energy’s scooters are already popular among urban consumers, and the company’s expansion plans will make them more accessible to a wider range of customers.
The partnership between Hero MotoCorp and Ather Energy is a win-win for both companies. Hero MotoCorp gains access to Ather Energy’s technology and expertise, while Ather Energy gets the backing of India’s largest two-wheeler manufacturer. This partnership is likely to play a major role in the growth of the Indian EV market.
Here are some additional details that you can add to the article to make it more engaging:
- Hero MotoCorp is the world’s largest two-wheeler manufacturer by volume.
- Ather Energy was founded in 2013 and is headquartered in Bengaluru.
- Ather Energy has raised over $1 billion in funding from investors such as Hero MotoCorp, Tiger Global, and Flipkart.
- Ather Energy’s scooters are known for their long-range, fast charging, and smart features.
- The Indian EV market is expected to grow at a CAGR of 30% in the next five years.