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Hero MotoCorp invests in startup

Hero MotoCorp invests in startup

Hero MotoCorp Limited has made a strategic investment of Rs 180 crore in Ather Enegry for an estimated stake of about 26-30 per cent. This is the first investment in a startup by the two-wheeler major. Ather has built the country’s first smart-electric scooter called S340, which can run about 60 km on one full charge and offers a top speed of 72 kmph. The scooter takes about one hour to fully charge on a fast charge. It offers a 3x lighter and smaller battery packs and more powerful traction motor.
Commenting on this investment, Pawan Munjal, CMD and CEO, Hero MotoCorp said, “One of our strategic priorities is to engage with the external ecosystem, including startups in adjacent areas.”

“Ather is the best startup in the two-wheeler EV space and we firmly believe that they are on the way to become one of the leaders in India, potentially even globally. We are excited to be a strategic investor and see this as an important step in building the necessary ecosystem needed to support commercialisation of EVs in the country,” he added.

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