Hero MotoCorp, the country’s largest two-wheeler manufacturer, has increased its stake in electric two-wheeler maker Ather Energy to around 32.8% by acquiring shares from GIC, the sovereign wealth fund of Singapore. Hero has acquired 1.19 crore shares of Ather from the Government of Singapore (GIC) at Rs 1,480 apiece on Friday, valuing the transaction at around Rs 1,758.24 crore, as per NSE bulk data.
The acquisition increased Hero MotoCorp’s stake in Ather from 29.88% to 32.8% on a fully diluted basis. The auto giant has been steadily increasing its investment in Ather, with the latest transaction marking another such investment.
Hero said the acquisition does not require any governmental or regulatory approvals. Ather is already an associate company of Hero MotoCorp and operates in the electric two-wheeler and charging infrastructure space.
Ather Energy, India’s third largest e2W player, recently raised Rs 1,200 crore through a preferential issue, with Hero MotoCorp investing nearly Rs 960 crore and the India-Japan Fund (IJF) investing Rs 200 crore. Co-founders Tarun Mehta and Swapnil Jain also invested Rs 20 crore each.
The Bengaluru-headquartered company on Saturday expanded its electric vehicle (EV) portfolio by launching Konarc at the fourth edition of Ather Community Day 2026. Built on Ather’s new EL platform, Konarc will be available across the S and Z product lines, with six variants in total.
The Konarc S 100 km is priced at Rs 99,999, the Konarc S 125 km at Rs 1,21,999, and the Konarc S 161 km at Rs 1,44,999, effective ex-showroom Bengaluru. The company also unveiled a 200-km Konarc marked for Q3 2027 launch, while Konarc Z is listed with 125-km and 161-km versions for Q2 2027
Tarun Mehta, Co-Founder & CEO, Ather Energy, said that Konarc has been designed to make EVs mainstream in India.
“Be it the metal panels, 200 km range, once-a-year service interval, fast home charging, or the plush and comfortable ride, we have pushed the envelope on every fundamental that matters to this buyer, without compromising on the premium experience and advanced technology that Ather is known for,” added Mehta.