HERO MOTOCORP charges-up its vision to “Be the Future of Mobility”

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Increases its equity share in India’s fist intelligent electric scooter manufacturer- Ather Energy

Continuing to build on its series of new initiatives, Hero MotoCorp, the world’s largest
manufacturer of motorcycles and scooters, today announced a further investment of Rs 84
crore (US$11million) in Ather Energy, taking up its shareholding in the Company to
34.58%.

Prior to the investment, Hero MotoCorp’s shareholding in Ather Energy was 31.27%.
The announcement comes close on the heels of several new strategic decisions taken by the
Company towards achieving its vision to “Be the Future of Mobility”.
Hero MotoCorp has been a part of Ather’s growth story since 2016, when it first invested as
a part of Series B funding.

Commenting on the investment, Rajat Bhargava, Head of Emerging Mobility Business
Unit (EMBU), Global Business & Strategy, Hero MotoCorp, said “We are excited to see the
growth of Ather Energy in the recent years. We see immense potential for them to expand
their market even further, especially given the likely growth of electric vehicles (EV) in the
near future. In addition to our efforts of developing a robust external eco-system for EVs, we
are also aggressively working on our internal EV program. Our aim is to provide accessible
electric mobility to customers across the globe. Sustainability and clean, green environment
remain central to our vision to be the future of mobility.”

As the market leader in India and a global automotive major, Hero MotoCorp takes the lead
in many areas that benefit the environment, customer and the industry

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