The first Ather 450X Series 1 electric scooter was handed over to Dr. Pawan Munjal, Chairman and CEO of Hero MotoCorp, before the company began operations in Delhi-NCR.
Tarun Mehta, Co-Founder, Ather Energy with Dr Pawan Munjal, CEO, Hero MotoCorp
Ather Energy handed over the first 450X electric scooter in Delhi to Dr. Pawan Munjal, Chairman and CEO of Hero MotoCorp. The announcement comes days before the EV start-up is ready to begin operations at Delhi-NCR. The Ather 450X was personally delivered to Dr Munjal by Ather co-founder Tarun Mehta in Delhi. Note that Hero MotoCorp has been an early investor in Ather Energy since 2016 and currently owns a 35% stake in the electric vehicle maker.
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Speaking about the handover, Tarun Mehta, Co-Founder of Ather Energy, said, “We have launched the Ather 450X in all markets over the past few months and are now delighted to begin our retail operations in New Delhi. . To kick off this phase, we are happy to deliver the first vehicle in Delhi to Dr Pawan Munjal. Not only did Dr Munjal trust Ather as one of our major investors, he has also been a mentor to me and Swapnil personally over the years. moment of pride for us. “
Dr Pawan Munjal said: “I am really delighted to receive the Ather 450X scooter from Tarun. Sustainability and clean energy remain at the heart of Hero MotoCorp’s vision – “Be the future of mobility”. I congratulate Tarun, Swapnil and the whole team for developing this technologically advanced and connected vehicle for customers across the country. “
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Hero MotoCorp originally invested in Ather Energy in 2016 to the tune of ₹ 205 crore which was released in installments to the company. In 2020, the company further increased its stake from 31.27% to 34.58% with a new investment of ₹ 84 crore as part of its Series C funding round. Besides Hero MotoCorp, Ather investors include Sachin Bansal and Binny Bansal, InnoVen Capital, IIT-Madras, the founder of Aerospike Srini V Srinivasan and Tiger Global Management.
Read also: Living with the Ather 450X Electric Scooter: Test Drive Review
Over the past year, Ather Energy has brought the 450X and 450 Plus electric scooters to market and has experienced a rapid expansion frenzy. The company is currently present in 28 markets across India. The brand has also started operations at its massive manufacturing facility in Hosur, Tamil Nadu, which will meet growing demand.
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