Hero MotoCorp increases its stake in Ather Energy to 39.7%

Hero is the largest investor in the Bangalore-based electric scooter maker.

Hero MotoCorp has increased in stake in Ather Energy by purchasing shares worth Rs 140 crore.

Hero is the largest investor in the Bangalore-based electric scooter maker. With the purchase of additional shares, the company has increased its stake from 36.7% to 39.7%.

Earlier this year, Ather Energy raised Rs 900 crore in fresh funding from Hero MotoCorp and GIC. Hero had also participated in a round of investment to raise $128 million back in January 2022.

Recently, Hero MotoCorp and Ather Energy signed an agreement to develop an interoperable fast-charging network for 2-wheelers in India. The companies plan to set up over 1,900 fast charging points across more than 100 cities.

Source: Read Full Article