New Delhi: New Delhi-based two-wheeler maker Hero MotoCorp Ltd on Thursday said that its board has approved an investment of up to Rs.205 crore for about 26-30% shareholding in Bangalore-based tech start-up Ather Energy Pvt. Hero said payments to Ather will be made in tranches. “As the market leader and a global automotive major, Hero MotoCorp takes the lead in many areas that benefit the environment, customer and the industry. Adoption of environment-friendly fuel is a priority for Hero MotoCorp, as is propagating sustainable manufacturing through green facilities. Hero MotoCorp intends to enhance its participation in the EV (electric vehicle) space by pursuing its internal EV program in addition to partnering with Ather,” the company said in a statement to the BSE.

Source: Mint October 27, 2016 04:21 UTC