Ather Energy raises Rs 900 crore in fresh round of investment
The funds will be used for new product launches and expansion of charging infrastructure and retail network.
Bangalore-based EV startup Ather Energy has raised Rs 900 crore from Hero MotoCorp and Singapore’s GIC.
“The last few years have demonstrated just how quick the EV transition in India can be and how it will be led by 2-wheelers. This round will allow us to expand our product portfolio while expanding our footprint,” CEO and co-founder Tarun Mehta said.
He further added that the funds will be used for new product launches and expansion of charging infrastructure and retail network. Currently, there are over 1,500 Ather Grid public fast-charging stations across India and over 200 retail outlets across more than 100 cities, including Bangalore, Delhi, Chennai, Hyderabad, Pune, Jaipur, Kochi, Ahmedabad, Mumbai, Mysore and Kolkata.
Ather recently introduced its most affordable e-scooter called the 450S. It is priced at Rs 1.30 lakh (ex-showroom). The 450S uses a 2.9 kWh battery that has a maximum range of 115 km.
Source: ET Auto
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