Hero Is Investing a huge amount in Ather Energy

New Delhi: India's largest two-wheeler maker Hero MotoCorp wants to further strengthen its position in the electric vehicle segment. In the same vein, Hero has approved a new investment of Rs 420 crore in electric vehicle startup Ather Energy. For information, Hero already owns 34.8 percent of shares in Ather Energy. Hero has been one of the early investors at Ather since 2016 and is the largest shareholder in the company.

EV to facilitate ownership: Business chief

"Keeping in mind our 'Be the Future of Mobility scheme, we are working on a variety of emerging mobility," said Swadesh Srivastava, head of Hero MotoCorp's Emerging Mobility Business Unit. We are one of the early investors in Ather Energy. We are excited to see the development of Ather Energy in recent years. Our aim is to further enhance the promise of the Hero MotoCorp brand and make EV ownership convenient and hassle-free. "

Hero also came forward to invest in other segments

Apart from manufacturing electric vehicles, Hero is also considering an investment in other segments along with Ather. Hero said it is also considering cooperation with Ather Energy in various fields including charging infrastructure, technology, and sourcing. Ather and Hero have already collaborated on unified charging solutions for electric two-wheelers. Apart from this, Hero MotoCorp is also set to enter the electric mobility sector on its own.

Hero, who is building in association with a Taiwanese company, introduced pictures of his electric scooter in early 2021. In April 2021, the company signed an agreement with Taiwanese company Gogoro to share battery swap technology and other technical facilities. After this agreement, everyone is feeling that Hero may soon launch his electric scooter in association with Gogoro.

Hero's electric scooter may arrive in March

The company's first electric vehicle will be introduced in March this year and is being developed at the company's Centre of Innovation and Technology (CIT) in Jaipur and Tech Centre Germany (TGG) near Munich. The new offering will also be produced at Hero's manufacturing facility in Andhra Pradesh. On the other hand, Hero has registered the name Vida Electric. Hero is believed to launch his electric scooters with the same name.

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