Hero MotoCorp Invests Millions in Electric Two Wheelers
BANGALORE, India – The country’s largest manufacturer of powered two-wheelers, Hero MotoCorp invested in smart electric two-wheeler start-up Ather Energy. Hero MotoCorp obtains a 30% share of Ather Energy with an initial investment of 24.5 million euro. The funding marks the third round of investments in Ather Energy, which is building the S340 - India’s first smart, electric scooter. Previous rounds of investments in the company were by Tiger Global; and Sachin and Binny Bansal, promoters of India's largest online shopping portal Flipkart, in their personal capacity.
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