Hero MotoCorp to Raise Ather Stake to 32.8%

India’s Hero MotoCorp will increase its stake in electric scooter maker Ather Energy to 32.8% by purchasing additional shares worth up to ₹17.58 billion ($184 million). The shares will be acquired from an existing Ather stakeholder, whose identity was not disclosed.

Hero MotoCorp, which is already Ather’s largest shareholder, held a 29.88% stake as of August 25. The move comes shortly after Ather allotted convertible warrants worth ₹9.60 billion to Hero as part of a separate preferential issue, further strengthening the partnership between the two companies.

The investment comes as competition intensifies in India’s rapidly expanding electric two-wheeler market, with established automakers and newer EV companies competing for market share. Ather recently reported a significantly narrower first-quarter loss, supported by strong demand for its family-focused Rizta electric scooters.

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