Electric Vehicles are the future of mobility across the globe, every two-wheeler and four-wheeler manufacturer has understood this. Most existing automotive brands are developing their own EV's. However, a few of them are investing in existing companies for ease of development.
Now, Hero MotoCorp has invested Rs. 180 crore in Ather Energy for a stake of 25-30 percent. The Indian two-wheeler giant plans on increasing its investment as and when the need arises. An agreement is being drawn up by both parties, an official announcement is expected soon.
Swapnil and Tarun, Co-Founders, Ather Energy have confirmed this development. This was the third round of investments in Ather Energy. Latest funding proves the confidence and futuristic thinking of Hero MotoCorp.
Previously, Ather Energy had organised investments from Tiger Global and Flipkart. Latest investment also marks the largest investment in a smart electric two-wheeler in India. The Rs. 180 crore by Hero MotoCorp will be used in Ather Energy's smart electric two-wheeler development.