Amid rising competition in EV space, Hero to invest INR 420 Cr in Ather Energy

Hero MotoCorp has received board approval to further invest INR 420 Cr in EV startup Ather Energy. The deal is likely to be completed by April. Prior to the investment, Hero Motocorp’s share in Ather Energy stood at 34.8% and will increase once the deal goes through. The exact shareholding will be determined after the completion of the funding round.