Hero MotoCorp has announced that the brand is offering a new investment in Ather Energy. One of the largest two-wheeler and three-wheeler manufacturers, Hero MotoCorp, will be investing up to INR 420 Crore in Ather Energy. The brand has a total shareholding of 34.8 per cent in Ather Energy. However, post this investment, the share will increase and the exact amount will be revealed upon completion of the capital raise round by Ather. The demand for the electric vehicles in the country means Hero MotoCorp aims to grab a healthy share of the market.
What Does This Partnership Mean For The EV Segment?
Ather Energy is one of the early electric scooter manufacturers that entered the EV space back in 2016. However, the demand for electric vehicles in the Indian market was not much. The sales figures were quite underwhelming at the time as there was very less awareness. For the past two years, the demand for electric scooters has shot up. Thanks to this, Ather Energy is taking the advantage of first-mover as sales are blossoming. For the CY 2021, Ather Energy boasts 3rd position in the overall two-wheeler EV segment. Hero MotoCorp also revealed that they are the early investors in Ather Energy and the brand is playing an important role developing the electric ecosystem in the country.
Hero MotoCorp Future Plans
Given the growing demand for electric scooters, Hero MotoCorp is gearing up to launch its own EV scooter. The two-wheeler manufacturer mentioned that the scooter will hit the Indian roads by March 2021. The electric vehicle scooter is being developed at the Hero MotoCorp’s Center of Innovation and Technology (CIT) in Jaipur and the Tech Center Germany (TGG) near Munich.
CredR offers a convenient platform for commoners to buy and sell their old bikes online. The brand also offers a customer-friendly platform that strives for quality. CredR also offers genuine deals on 2nd hand bikes in the Indian market.
