Ather Energy raises Rs 900 cr from Hero MotoCorp and GIC for expansion
Ather Energy, which makes electric two-wheelers, said on Wednesday it has raised Rs 900 crore from existing shareholders Hero MotoCorp and GIC through a rights issue. It will use the funds for launching new products and expanding its charging infrastructure and retail network.
“The last few years have demonstrated just how quick the EV [electric vehicle] transition in India can be and how it will be led by two-wheelers,” said Tarun Mehta, chief executive officer and cofounder of Ather Energy.
“We have always believed that this transition will be led by world-class technology and products designed and built in India and this year will be no different with our largest outlay on research and development yet, planned in 2023-24.
