Hero MotoCorp To Increase Stake In Ather Energy To 41.9% For Rs 124 Cr: Report
In December 2023, Hero MotoCorp invested Rs 140 crore to raise its stake in Ather Energy to 39.7 per cent
Hero MotoCorp has announced plans to increase its stake in Ather Energy by 2.2 per cent with an investment of Rs 124 crore, according to a leading media wire. This acquisition will be completed through the purchase of shares from an existing shareholder, according to PTI.
Currently holding a 39.7 per cent stake in Ather Energy, Hero MotoCorp's additional investment is expected to be finalised by July 31, 2024, according to PTI.
Ather Energy, headquartered in Bengaluru, focuses on designing, manufacturing, and selling electric vehicles and related charging infrastructure. The company also engages in software development and the management of electric power storage and distribution systems.
In December 2023, Hero MotoCorp invested Rs 140 crore to raise its stake in Ather Energy to 39.7 per cent.
Ather Energy, incorporated on October 21, 2013, designs, manufactures, and sells electric vehicles and charging infrastructure. It saw significant growth in FY2024, selling 108,870 units for a market share of 11.53 per cent, ranking third after Ola Electric and TVS Motor Co.
