Hero commits further investment in Ather EnergyHEROMOTOCO - 3716 Change: -56.90 (-1.51 %)
News: The company’s board of directors has approved further investment in its associate company i.e. Ather Energy Pvt Ltd (electric vehicle manufacturer). The company intends to invest upto Rs.420 crore in one or more tranches. The present stake of Hero MotoCorp in Ather Energy is pegged at ~35% with Ather’s Revenue in FY21 at ~Rs.80 crore.
Views: Hero MotoCorp’s exact quantum of ownership stake increase in Ather cannot be determined at this point in time with its last investment pegged at ~Rs.84 crore in FY21. Increase in ownership in Ather bodes well for Hero MotoCorp which is approaching electrification through three domains i.e. (i) stake in Ather Energy, (ii) Partnership with Gogoro Inc. for swappable EV solution and (iii) own EV product launch in March 2022.