Hero MotoCorp Increases Stake in Ather Energy with Rs 124 Crore Investment

Hero MotoCorp announced plans to acquire an additional 2.2% stake in Ather Energy for Rs 124 crore. The acquisition involves purchasing shares from an existing shareholder and is expected to complete by July 31, 2024. Hero MotoCorp currently holds a 39.7% stake in Bengaluru-based electric vehicle company Ather Energy.

Hero MotoCorp, a leading player in the automotive industry, revealed on Thursday its plans to further solidify its position in the electric vehicle sector by acquiring an additional 2.2% stake in Ather Energy for Rs 124 crore. This investment involves purchasing shares from an existing stakeholder and is slated for completion by July 31, 2024.

The regulatory filing disclosed that Hero MotoCorp currently holds a significant 39.7% stake in Ather Energy. The Bengaluru-based company is renowned for its innovations in designing, manufacturing, and selling electric automobiles and charging infrastructure, along with software development and management related to electric power systems.

Ather Energy, a notable name in the electric vehicle market, reported a revenue of Rs 1,753.8 crore in FY24. With this strategic investment, Hero MotoCorp aims to further enhance its footprint in the rapidly growing electric mobility sector.

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