EV maker Ather Energy reportedly raised up to $250 million to outpace competitors

Electric scooter manufacturer Ather Energy is reportedly raising up to $250 million in a new funding round, as the debate on EV fires appears to be finally settling with no fresh battery fire cases being reported in the country.
The funding round is in its early stages and the plan is to raise between $200 and $250 million to chart a fresh beginning in the competitive EV two-wheeler market dominated by Hero Electric and Okinawa Autotech.
When reached, Ather Energy did not comment on the development.
In May, Ather Energy raised $128 million in a funding round led by sovereign wealth fund National Infrastructure Investment Fund (NIIF) and existing backer Hero MotoCorp, which invested nearly $56 million in the round.