Hero MotoCorp to invest ₹1,758 crore more in Ather, raising stake to 32.8%
Hero MotoCorp plans an additional investment of up to ₹1,758 crore in Ather Energy, taking its holding to 32.8% and making it Ather’s largest shareholder. The move follows a ₹1,000 crore preferential investment approved in July.
What happened
Hero MotoCorp will invest up to Rs 1,758 crore more in electric two-wheeler maker Ather Energy, increasing its stake to 32.8% and becoming Ather’s largest
Key facts
- Rs 1,758 crore additional investment
- Hero MotoCorp stake to rise to 32.8%
- Current stake: 29.88% as of August 25
- Rs 1,000 crore investment approved in July
- Prior stake: 29.48%
- Transaction expected to complete by September 3
- Ather FY26 turnover: Rs 3,671.76 crore
- Ather FY25 turnover: Rs 2,255 crore
- Ather FY24 turnover: Rs 1,753.8 crore
Why this matters
By becoming Ather’s largest shareholder at 32.8%, Hero is securing strategic influence without a full acquisition while creating room for deeper commercial integration.
What to watch
- Completion terms, timing and regulatory approvals for the ₹1,758 crore investment.
- Ather’s quarterly retail sales growth, market-share movement and dealer/service footprint expansion.
- Evidence of Hero dealership access, common suppliers, manufacturing support or joint financing programs.
- Ather’s gross-margin trajectory, cash burn and timeline toward operating profitability.
- New Ather model launches, battery/charging upgrades and pricing actions versus Ola Electric, TVS and Bajaj.
- Hero MotoCorp’s stated governance rights and level of operational influence after reaching 32.8% ownership.
- Ather is likely to increase experience-centre and service-network additions in tier-1 and tier-2 cities.
- Hero and Ather may expand shared sourcing, battery, software, charging and after-sales initiatives while retaining distinct consumer brands.
- Ather could use the strengthened balance sheet to fund product refreshes across price points and reduce reliance on premium-only positioning.
- Hero may position its portfolio around differentiated EV brands: Ather for technology-led premium retail and Hero’s own offerings for broader mass-market distribution.
- Competitors may increase dealer incentives, financing offers and EV scooter promotions in key metropolitan markets.