Ather Just Got A Whole Lot Richer. Like 84 Crore Richer!

• This most recent investment increases its stake in Ather to 34.58%.

• The extra funds should help Ather ramp up production and fast-track deliveries of the 450X.

Ather’s chapter got off to an explosive start with an action-packed couple of years that has seen the brand roll out the 340 and 450, discontinue the 340, introduce the 450X and now slowly phase out the 450. But for the last few months, things have been rather quiet on the Ather front. That’s all changed now with another big announcement.

Hero MotoCorp has invested another Rs 84 crore in the Bengaluru startup, in addition to the Rs 200-odd crore that it has already pumped into the company previously. Before this most recent investment, Hero’s stake in the company was over 31.27 percent, which has now grown to 34.58 percent.

The extra funds will certainly help Ather weather the storm that the current economic downturn has created. Ather’s supply chains have been affected by the COVID-19 pandemic, and this cash will go a long way in helping it find equilibrium in its operation once again. The 450X has also racked up quite a few orders, so Hero’s investment will help Ather ramp up production and expedite deliveries. Full information is available below.

New Delhi, July 24, 2020: Continuing to build on its series of new initiatives, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today announced a further investment of Rs 84 crore (US$11million) in Ather Energy, taking up its shareholding in the Company to 34.58%.

Prior to the investment, Hero MotoCorp’s shareholding in Ather Energy was 31.27%.

The announcement comes close on the heels of several new strategic decisions taken by the Company towards achieving its vision to “Be the Future of Mobility”.

Hero MotoCorp has been a part of Ather’s growth story since 2016, when it first invested as a part of Series B funding.

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.”