World · India Bureau
Ather Energy shares surge on Hero MotoCorp stake increase
Shares of electric two-wheeler maker Ather Energy jumped 7% following a block deal in which Hero MotoCorp increased its shareholding in the Bengaluru-based company. The country's largest two-wheeler manufacturer now holds nearly 30% of the EV startup.
LSN India ·
Ather Energy's stock price gained ground in market trading after Hero MotoCorp, India's leading two-wheeler manufacturer, bolstered its investment in the electric vehicle maker through a block deal transaction. The share price movement reflected investor confidence in the strategic stake increase by one of the country's most established automotive players.
As of August 25, Hero MotoCorp held a 29.88% stake in Ather Energy, solidifying its position as the company's largest shareholder. The increased investment underscores the automotive giant's commitment to the fast-growing electric two-wheeler segment, where Ather Energy has established itself as a key player in India's transition toward sustainable mobility.
The block deal came as part of broader industry consolidation in the EV two-wheeler space, where established automakers have been stepping up their participation through equity stakes and strategic partnerships. Hero MotoCorp's growing ownership interest in Ather Energy reflects the sector's importance to legacy automotive companies seeking to strengthen their presence in the electrifying two-wheeler market.
AtherEnergy, which manufactures electric scooters with advanced connected features, has positioned itself as a premium player in India's emerging e-scooter market. The Bengaluru-based company's tie-up with Hero MotoCorp provides it with access to manufacturing expertise and distribution networks of the country's largest two-wheeler maker.