Hero MotoCorp, the country’s largest two-wheeler maker, said its board has approved an investment of up to Rs 420 crore, or $57 million, in electric scooter maker Ather Energy.
Prior to the proposed investment, the Company’s interest in Ather Energy was 34.8 percent (on a fully diluted basis).
The company’s board of directors has approved the investment in one or more tranches, Hero Motocorp said in a statement.
The company aims to extend the Hero MotoCorp brand promise and make EV ownership a convenient, hassle-free and rewarding experience for customers around the world.
Read More Hero MotoCorp invests up to Rs 420 Cr in Ather Energy at Trickypedia.