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Hero MotoCorp invests US$ 840 Million in Ather Energy

Oct, 2020

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Ather plans to open a new manufacturing plant in Hosur, Tamil Nadu (India) to meet the expected demand in the coming future.

Hero MotoCorp, an Indian motorcycle and scooter manufacturer invests US$ 840 million (Rs 84 crore) in Ather Energy, an India-based electric scooter manufacturer. Now, Hero MotoCorp owns around 34.58% of shares of Ather Energy. Before this investment, Hero MotoCorp had a 31.27% stake in Ether Energy and is a part of Ather’s journey since 2016. Moreover, Ather Energy is planning to enter two international markets by March 2021. The company has been talking to the representatives from some Southeast Asian countries to expand their operations.

Moreover, countries in this region have an extensive charging infrastructure for electric vehicles, which makes it easier for the local inhabitants to adopt EVs. Apart from South East Asia, the company is also planning to enter Latin America and Europe markets as these markets are witnessing a rising need for electric two-wheelers. However, Ather’s plans were on hold due to the coronavirus crisis (COVID-19 pandemic). Now, the company has resumed work on its global expansion plans as the world is gradually returning to some form of normalcy. At present, Ather is planning to expand the 450X’s presence in India.

The company aims to scale up the sales of the 450X in around 20 Indian cities such as Ahmedabad, Kolkata, Hyderabad, Kochi, Mumbai, and Pune by the end of 2021. The 450X was launched in January 2020 and deliveries are expected to commence from October 2020. Ather plans to open a new manufacturing plant in Hosur, Tamil Nadu (India) to meet the expected demand in the coming future. The Hosur facility can manufacture around 100,000 units every year. Moreover, the company is planning to set up fast-charging stations (its Ather Grid) across the country in the next 5 years. Ather is also working on a slew of ownership and financing and models, including an exchange program and a lease program to make the company’s products more accessible.  

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