KATHMANDU: Hero MotoCorp is set to invest around US$184 million in electric two-wheeler maker Ather Energy, according to ET.
The investment will increase Hero MotoCorp’s stake in Ather from 29.88% to around 32.8%. Hero is already Ather’s largest shareholder.
The investment involves buying existing Ather shares from an existing shareholder. The transaction was approved by Hero MotoCorp’s Committee of Directors on August 27 and is expected to be completed by September 3.
The latest investment comes shortly after Hero invested around US$100 million in Ather.
Hero MotoCorp has been increasing its presence in the electric two-wheeler market through its investment in Ather. The latest deal will further strengthen its position in the Bengaluru-based EV maker.
