Hero MotoCorp is all set to invest more in Ather Energy and increase its stake in the electric vehicle brand. Hero MotoCorp has been one of the early investors of Ather and has been supporting the brand for a long time now. Hero currently owns a 34.8 percent share in Ather Energy.
The electric vehicle revolution is very well underway and electric two-wheelers are leading the charge in the EV space. In a scenario where it is becoming difficult to keep a track of every single electric two-wheeler manufacturer out there, there are a few brands that have created a lasting impact, and Ather is the largest such brand.
Ather Energy was founded back in 2013 with the aim of manufacturing revolutionary electric scooters. It revealed its first scooter at the Surge conference in Bangalore back in 2016. It was after the Ather S340 was revealed, that Hero MotoCorp first invested in the brand.
Hero MotoCorp clearly saw much promise in the brand and invested Rs 180 crore in Ather Energy, back in 2016. Hero didn’t stop at that and continued to invest in Ather Energy. Over the years, Hero has invested enough in Ather Energy to own a 34.8 percent share in the brand.
Now, Hero MotoCorp has once again come out in favour of Ather and is all set to invest Rs 420 crore in addition to all the previous investments. This will increase Hero MotoCorp’s share in Ather by a large margin. This investment will be made in two phases.
Ather Energy has changed the way Indians look at electric scooters. Its first scooters – the S340 and S450 – offered stellar performance, a sleek design, and lots of features that were never seen before on a scooter.
Over the last few years, the brand has steadily and constantly improved its scooters and it currently retails the 450X and 450 Plus electric scooters in the Indian market. These are some of the most advanced electric scooters with lots of technology and features. The Ather scooters also offer brilliant performance and acceleration.
In a nutshell, the Ather Energy scooters are very impressive and Hero MotoCorp too seems impressed by the work that the Bangalore-based brand is doing. Hero MotoCorp and Ather Energy will also be exploring partnerships to develop charging infrastructure, technology, and sourcing.
Hero MotoCorp is also developing its own electric scooter and will be launching the new EV soon. Meanwhile, Hero seems to be working towards building an entire EV ecosystem by associating with brands like Ather Energy and Gogoro Inc.
Thoughts On Hero MotoCorp Investing An Additional Rs 420 Crore In Ather Energy
Funding is a necessity for any brand to flourish in the initial days. However, to receive the funding, the brand should show enough promise. Ather Energy has shown more than just enough promise as the brand is now one of the most successful EV manufacturers in the country.