Pawan Munjal is riding Hero Moto fast into the EV lane. Hero MotoCorp, the the world’s largest manufacturer of motorcycles and scooters has invested further into EV startup Ather Energy, which produces electric scooters in the country.
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The company has decided to infuse another ₹420-crore investment in the Hosur-based electric vehicle manufacturer.This is increases Hero Moto's holding in Ather which already stood at 34.8%.
Ather which commands about 15% market-share in the EV scooter space in India is in direct competition with Pawal Munjal's brother and nephew led Hero Electric. The Munjal family is currently facing off on the usage of the brand 'Hero' for their EV launches.