Indian Government invests ₹200 cr; joins Founders and Hero MotoCorp in ₹1,200 cr Ather Energy fundraise
Ather Energy has raised ₹1,200 crore in a funding round that includes a ₹200 crore investment from the Indian government via the India-Japan Fund. Hero MotoCorp and the company's founders also participated in the round to support the electric vehicle manufacturer's growth.
Why it matters
Direct government investment in a private EV manufacturer signals strong state support for the transition to sustainable transportation and domestic technology manufacturing.
The Hindu Bureau The Government of India will invest ₹200 crore in Ather Energy through India-Japan Fund (IJF) a joint investment vehicle backed by the government of India and the Japan Bank for International Cooperation (JBIC).
This partnership between the government of India and Japan Bank of International Cooperation, is part of the round, thus marking a direct government stake in Ather Energy, one of India’s homegrown electric vehicle manufacturers.
Ather’s founders Tarun Mehta and Swapnil Jain are also participating in the round, investing ₹20 crore each, along with other existing promoters and IJF. Hero MotoCorp (HMC) is set to invest ₹960 crore as part of the round, according to Ather Energy’s regulatory filing on Wednesday.
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