Hero MotoCorp to invest Rs 5.5 billion in Ather Energy

06 Sep 2023 CW Team

The motorcycle manufacturer Hero MotoCorp disclosed that electric scooter maker Ather Energy was poised to secure Rs 5.5 billion in funding from them.

Hero MotoCorp's board resolved to invest Rs 550 crore through Series E2 compulsory convertible preference shares.

It's worth noting that Hero MotoCorp already held a 34.2% stake in Ather and was its largest shareholder, as reported by Tracxn.

In January of the previous year, Hero took the lead in a fundraise of $ 128 million for Ather.

According to Tracxn, Ather's last valuation was $ 739 million during a fundraise of $ 50 million in October of the previous year.

Reports in the media suggested that the company was planning to secure an additional $ 250 million at a valuation of $ 1.3 billion this year. However, these plans were put on hold due to the broader decline in tech funding and a decrease in sales following the withdrawal of the government's Faster Adoption of Manufacturing of Electric Vehicles (FAME-II) subsidies in June.

According to Vahan, the government's portal for automobile registration, Ather sold 6,835 units in August. This was in contrast to the 12,184 units sold in March and the 15,420 units sold in May, both when the FAME-II subsidies were still in effect. In August, over 59,000 electric two-wheelers were sold, with Ola Electric leading the market by selling 17,389 units.

On August 11, Ather introduced an entry-level electric scooter model called the 450S, featuring a range of 115 km. Their existing model, the 450X, is available with either a 115-km range or a 145-km range. A few days later, Ola Electric, their rival, launched a new scooter model known as the Ola S1 X. Ola also announced plans to introduce electric bikes in four different versions by the end of 2024.

Also read:
Delhi Metro's Unlimited Ride Scheme Boosts Tourism
MRVC to revamp Mumbai's Harbour Line Stations for Rs 1.3 bn

Real Estate

05 Dec 2025

RBI Rate Cut Boosts Confidence Across Housing Market

Industry Context and Market DynamicsThe real estate industry has welcomed the RBI’s rate cut as a timely boost to affordability and demand. With home prices having risen steadily across major markets, even a marginal reduction in interest rates meaningfully strengthens purchasing power, especially for first-time and mid-income buyers.Ashish Jerath, President – Sales & Marketing, Smartworld Developers, observes:“The RBI’s 25-basis-point cut, bringing the repo rate down to 5.25%, is a timely boost for the real estate sector. Lower interest rates reduce borrowing costs, enabling homeb..

BMC Resumes Rs 170 Billion Road Works, Targets 80 per cent By Jan 2026

Following the withdrawal of the southwest monsoon in October, the Brihanmumbai Municipal Corporation (BMC) has restarted work on 645 roads—covering 297.49 kilometres—under its large-scale concretisation programme. Data shows that more than 60 per cent of the resumed works are located in the western suburbs. Officials said the civic body aims to complete concretisation on 80 per cent of the roads where fresh work has begun by January 2026. Launched in 2022, the Rs 170 billion project seeks to concretise 700 kilometres of roads across Mumbai. All civil works were halted during the monsoon ..

India Pushes Digital Shift In Urban Land Mapping

The Department of Land Resources (DoLR) under the Ministry of Rural Development has convened a National Symposium on NAKSHA – the National Geospatial Knowledge-based Land Survey of Urban Habitations – to advance India’s transition to modern, technology-driven land mapping. Speaking at the inaugural session, Secretary Manoj Joshi underscored the urgent need to move revenue departments away from outdated, tape-based methods and rough hand-drawn sketches. He stressed that adopting latitude–longitude-based digital mapping and GIS-linked registration systems is essential for economic stabi..