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Hero MotoCorp which holds 33.1% shares in Ather will make the new investment in Series E2 compulsory convertible preference shares

Hero MotoCorp board approves Rs 550 cr additional investment in Ather Energy

Hero MotoCorp which holds 33.1% shares in Ather will make the new investment in Series E2 compulsory convertible preference shares

Hero MotoCorp on Monday said it will invest an additional Rs 550 crore in Ather Energy.
The company's board, at its meeting held on September 4, 2023, has approved an investment of up to Rs 550 crore in the Rights issue of Ather Energy, Hero MotoCorp said in a regulatory filing.
The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature, it added.
Prior to the proposed investment, Hero MotoCorp's shareholding in Ather stood at 33.1%, the country's largest two-wheeler said. The new investment is being made in Series E2 compulsory convertible preference shares.&nbsp;
Founded in 2013, Ather is engaged in the business of designing, manufacturing, selling, servicing electric two wheelers. Besides, Ather also has its own charging infrastructure and is engaged in storage, distribution and management of electric power (including energy in the form of batteries) and other ancillary services. Ather's turnover for the year ended March 2023 was Rs 1806.1 crore.&nbsp;
Ather has also partnered with state-run Bharat Petroleum Corporation Limited (BPCL) to expand its charging network.

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. 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. 

Hero Moto invests further in Ather as the Munjal family drama turns electric

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.


 More Ather for Hero Moto as Munjal family drama turns electric

Prior to the proposed investment, Hero MotoCorp's shareholding in Ather Energy was 34.8%

Pawan&nbsp;Munjal is riding Hero Moto&nbsp;fast into the EV lane.&nbsp;Hero MotoCorp, the&nbsp;the world&rsquo;s largest manufacturer of motorcycles and scooters has invested further into EV startup Ather Energy, which produces electric scooters in the country. Also watch:&nbsp;<a title="EV push: Delhi makes electric vehicle mandatory for Zomato, Swiggy, Ola, Uber" href="https://www.editorji.com/business-news/ev-push-delhi-makes-electric-vehicle-mandatory-for-zomato-swiggy-ola-uber-1642409261797">EV push: Delhi makes electric vehicle mandatory for Zomato, Swiggy, Ola, Uber</a> The company has decided to infuse another&nbsp;₹420-crore investment in the Hosur-based electric vehicle manufacturer.This is increases Hero Moto's&nbsp;holding in Ather&nbsp;which already stood at 34.8%. Ather&nbsp;which commands about 15% market-share in the EV scooter space in India is in direct competition with Pawal&nbsp;Munjal's brother and nephew&nbsp;led Hero Electric. The Munjal&nbsp;family is currently facing off on the usage of the brand 'Hero' for their EV launches.&nbsp;

As electric vehicles are the new transportation revolution in India, two-wheeler rental startup, Bounce launched its first electric scooter, the Infinity E1, at a planned price point of ₹45,099
About Bounce Infinity E1
The version of the scooter that comes with a battery and charger will be sold at ₹68,999.
The ride-sharing firm's Bounce Infinity E1 will be offered with a unique ‘Battery as a service’ option – the first of its kind in the Indian market.
This option allows customers to buy the scooter without purchasing the battery pack. Instead of purchasing the battery, customers can rent the battery from the company and choose a subscription pack to use the swapping network.
Ola delivery delays struggle 
SoftBank-backed Ola recently launched its electric vehicle that is priced at 99,999 Indian rupees, or $1,350. Ola has delayed the shipping of its scooter several times. It’s hoping to make its electric vehicles a big success and counting on it becoming a headline as it eyes the public markets

Bounce launches electric scooter with batter on lease! Ola gears for competition 

Half of Ola's EV scooter price and a swappable battery, Here is why Ola is gearing for big competition from Bounce's Infinity E1

Ola's new competitor? Bounce launches its Infinity electric scooter 

Pre-bookings start from December 2 and customers can pre-book the scooter by paying an amount of Rs 499 which is refundable.

Ola&nbsp;has to gear up for competition as Bounce&nbsp;launched its first electric scooter, the Infinity E1&nbsp;that features a swappable battery and is priced aggressively at Rs 45,099 vs Ola's&nbsp;EV offering just shy of a lakh.&nbsp; Bounce - The swappable battery plan
Bounce&nbsp;Infinity E1 will be offered with a unique &lsquo;Battery as a service&rsquo; option &ndash; the first of its kind in the Indian market.
Also watch |&nbsp;<a title="This IPO has a 100% grey market premium, last day to subscribe today" href="https://www.editorji.com/business-news/markets/this-ipo-has-a-100-grey-market-premium-last-day-to-subscribe-today-1638512330621">This IPO has a 100% grey market premium, last day to subscribe today</a>
This&nbsp;option allows customers to buy the scooter without purchasing the battery pack.&nbsp;Instead of purchasing the battery, customers can rent the battery from the company and choose a subscription pack to&nbsp;use the swapping network.
Customers will be able to swap the battery once it discharges from a nearby swapping station. The startup is building a network of swapping stations, for which it is tapping thousands of gas stations as well as mom and pop stores, in several Indian cities, Bounce said.
Bounce has starts booking, Ola&nbsp;delays deliveries
Bounce pre-bookings start from December 2 and customers can pre-book the scooter by paying an amount of just Rs 499 . This comes at a time when&nbsp;SoftBank-backed Ola&nbsp;has delayed the shipping of its scooter several times.&nbsp; India is the world&rsquo;s largest two-wheeler market. Two-wheelers &mdash; scooters and bikes &mdash; command over 80% of all vehicles sold in the country though electric vehicles are yet to make inroads&nbsp;

Ather Charging Stations

Ather Energy has begun setting-up charging stations across India as part of its expansion plans in nine new cities. The company has announced the locations of the new&nbsp;Ather&nbsp;Grid fast charging stations as it has partnered with malls, restaurants, cafe chains, different retail outlets and more to establish the network. The company said that it plans to make about 135 charging stations live by December 2020, which includes the current 50 charging stations that are operational. Ather has about 37 charging stations in its home-market Bengaluru and 13 are located across Chennai. Furthermore, the company said that it plans to set-up 6500 charging points by 2022.

ather energy

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