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Hero MotoCorp Announces $60 Million Invest in US-Based Zero Motorcycles

Reuters

Last Updated: September 30, 2022, 16:02 IST

Bengaluru, India

Image used for representation. (Photo: Hero MotoCorp)

Image used for representation. (Photo: Hero MotoCorp)

The move comes after Hero, in January, announced an investment of more than $56 million in electric vehicle (EV) start-up Ather Energy — India's top electric-scooter maker by revenue.

Indian bikemaker Hero MotoCorp said on Thursday it will invest $60 million in California-based Zero Motorcycles to jointly develop electric motorcycles, as it seeks to expand presence in the green mobility space. Zero is present as a “global leader" in powertrains, Hero said in its exchange filing, adding that it will launch its first electric product under its emerging mobility brand Vida on Oct. 7.

The move comes after Hero, in January, announced an investment of more than $56 million in electric vehicle (EV) start-up Ather Energy — India’s top electric-scooter maker by revenue. Earlier this month, it partnered with state-run Hindustan Petroleum Corp to set up EV charging infrastructure across the country.

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first published:September 30, 2022, 16:02 IST
last updated:September 30, 2022, 16:02 IST