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Hero MotoCorp in a regulatory filing has announced that it will invest an additional ₹550 crore in the electric two-wheeler startup Ather Energy. India's largest two-wheeler manufacturer Hero MotoCorp is one of the key investors of Ather Energy, which is a leading EV startup in the country. The former company's board in a meeting on September 4, has approved the investment, claimed the automaker in its regulatory filing.
With the previous investment, Hero MotoCorp holds 33.1 per cent shares of Ather Energy, which would be significantly increased by the fresh proposed investment. However, Hero MotoCorp has not revealed what would be its revised share percentage inAther Energy after the proposed investment. Interestingly, the proposal comes on the heels of the launch of the Ather 450S, which is the most affordable scooter from the brand.
Ather Energy launched its entry-level electric scooter 450S in India last month at ₹1.29 lakh (ex-showroom, Delhi). The electric scooter sports the same design as its premium sibling 450X. However, there are some distinctive features available in this EV. It gets a new non-touchscreen digital display, turn-by-turn navigation, multiple riding modes, reverse assist, a joystick for navigating through menus on the display etc.
Powering the Ather 450S is a 2.9 kWh battery pack that promises a 115 km range on a single charge. Ather 450S comes with a top speed of 90 kmph. Ather claims the 450S has been developed to compete with 125 cc ICE-powered scooters in India. Ather is also working on an updated 450X, which is the flagship model of the EV startup. The upcoming updated 450X is slated to receive an update. It will come with a new digital display and other features. Apart from the scooters, Ather is also working on expanding its retail network and developing a fast-charging infrastructure to support its EV owners.