Bike India

Best Bikes in India | No.1 Two Wheeler Magazine

  • Home
  • News
    • Upcoming Launches
    • Latest News
    • New Bike Launches
  • Reviews
    • First Ride
    • Road Test
    • Comparison
  • Features
  • Our Bikes
  • Videos
  • Subscribe
  • NG Auto
    • AUTO COMPONENTS INDIA
    • CAR INDIA
    • COMMERCIAL VEHICLE
  • Brands

Hero MotoCorp Invest Rs 84 Crore in Ather Energy

July 24, 2020 by Harket Suchde Leave a Comment


The world’s biggest two-wheeler company by volume – Hero MotoCorp – has invested in Ather Energy, the fledgeling EV brand to the tune of Rs 84 Crore.

Ather are making big moves in the Indian market with their electric scooters seeing huge demand in every city that they have established a presence. Now in the Series C round of raising investments, they have seen Hero MotoCorp put in quite the chunk of change into the brand. This investment brings Hero’s stake in Ather Energy up to 34.58% from 31.27%. That money will be useful too, as Ather have some big plans for the country. They are looking to introduce their 450X flagship to 20 cities by the end of 2021, with Hyderabad, Pune, Delhi and Mumbai, getting the Ather 450X next – by October 2020. Other plans include a new manufacturing facility in Hosur, which will have an initial production capacity of 100,000 units annually, and which can be increased to 500,000 units. Ather Energy will also set up Ather Grid fast charging points across the country over the next 5 years, in order to help improve charging infrastructure for their customers.

Tarun Mehta, Co-founder & CEO, Ather Energy said the following regarding this development, “We are in a high growth phase of our journey, and while the last few months have been challenging, we have not altered our expansion plans. Our geographic expansion and the roll-out schedule for the Ather 450X are on track, and we will be using these funds to invest in our facilities to meet the demand we have seen for the Ather 450X across the country.”

Commenting on the investment, Rajat Bhargava, Head of Emerging Mobility Business Unit (EMBU), Global Business & Strategy, Hero MotoCorp, said “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. Our aim is to provide accessible electric mobility to customers across the globe. Sustainability and clean, green environment remain central to our vision to be the future of mobility.”

Senior Correspondent at Bike India Magazine

A travel-junkie who loves rock-n-roll and football, and spends endless hours playing video games in his free time

Harket Suchde – who has written 167 posts on Bike India.


Email • Twitter

Related posts:

California Superbike School - Taming the Track
Royal Enfield 650 Twins Get Cast Alloy Wheels and Other Updates
Bajaj Pulsar NS200 And NS160 Gets USD Forks

Filed Under: Ather Energy, Hero Moto Corp, Latest News, News Tagged With: 84 crore, Ather, bike, details, Energy, funding, future, hero motocorp, India. 2020, plans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

AlphaOmega Captcha Classica  –  Enter Security Code
 ⟲    ➴
 


MARCH 2023

Bike India - India's no. 1 two-wheeler magazine

17TH ANNIVERSARY SPECIAL

Bike India - India's no. 1 two-wheeler magazine

Anniversary Ride to the Isle of Man with Freddie Spencer and Sid Lal

TVS Ntorq Ncounters I – Navigating the Night

BMW G 310 GS Explores Nagaland

SPECIAL Featured Story

Yamaha MT-10 SP – Ready for Road, Track, and Touring

Yamaha MT-10 SP – Ready for Road, Track, and Touring

In recent years, however, the MT-10 has begun to show its age, especially in terms of technology and rider aids. It was always on the thirsty side, too, and, by modern standards, the brakes were lacking. It was time for an update, which is why for 2022 Yamaha introduced a new MT-10 earlier this year.

More about this.

Car India and Bike India Awards 2019

Recent Posts

  • Bajaj Pulsar NS 160 and NS 200 Update Review — Enhanced Agility
  • California Superbike School – Taming the Track
  • Royal Enfield 650 Twins Get Cast Alloy Wheels and Other Updates
  • Bajaj Pulsar NS200 And NS160 Gets USD Forks

Car India

Car India Magazine - Get your Digital Subscription

Latest News

Royal Enfield 650 Twins Get Cast Alloy Wheels and Other Updates

Bajaj Pulsar NS200 And NS160 Gets USD Forks

Hero MotoCorp And Zero Motorcycles Collaborate For Premium Electric Motorcycles

Massive New Harley-Davidson Screamin’ Eagle 135 Crate Engines

Subscribe to Car India

Subscribe to our Car India Magazine

Bike India: India’s no. 1 two-wheeler magazine

BIKE India covers the two-wheeler industry in its entirety, both from the local and the international perspective. Also delivers the most definitive verdict on machinery and performance by explaining the hows, whys, and whats on every new bike in a lucid and user-friendly manner. BIKE India is the India’s most authoritative two-wheeler publication, a magazine for people with a passion for bikes and everything to do with their history and heritage.
SiteMap

Copyright © 2023 · BIKE INDIA INDIA’S NO. 1 TWO WHEELER MAGAZINE, BY FAR! ·