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Ather Energy Secures Rs 900 Crore Investment from Hero MotoCorp and GIC Singapore
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Ather Energy, an Indian electric scooter manufacturer, secures a substantial Rs 900 crore investment from Hero MotoCorp and GIC Singapore to fuel its growth and innovation in the electric mobility industry.
Hero MotoCorp, India's leading two-wheeler manufacturer in terms of volume, and Singapore's sovereign wealth fund GIC, have committed a substantial investment of Rs 900 crore ($108 million) into Ather Energy, doubling down on their support for the electric scooter manufacturer.
Ather Energy plans to deploy these funds strategically to introduce innovative products, expand its charging infrastructure, and bolster its retail network, as outlined in their recent statement.
Hero MotoCorp, earlier this week, disclosed its investment of Rs 550 crore in Ather Energy through a rights issue. This investment maintains Hero MotoCorp's stake in the electric mobility startup at 33.1%, with adjustments to its ownership expected once the ongoing fundraising process concludes.
Ather Energy reported a remarkable surge in revenue, with FY23 figures soaring to Rs 1,783 crore from Rs 408 crore in FY22. The company's retail footprint has also seen significant growth, expanding from 30 stores to 130 stores in just one year. Currently, Ather Energy boasts over 200 retail touchpoints spanning across more than 100 cities.
Notably, Ather Energy has diversified its product portfolio, introducing new variants with 2.9 kWh and 3.7 kWh battery options for its flagship 450X scooter, in addition to a new entry-level product, the 450S.
This fundraising initiative comes at a juncture when the government has revised its subsidies for electric two-wheelers, resulting in a temporary dip in demand due to price adjustments.
Previously reported by VCCircle, Ather Energy had set its sights on raising $250 million and was poised to receive $25 million from the International Finance Corporation (IFC), aimed at scaling up manufacturing capabilities and launching new vehicle models.
Ather Energy, co-founded by Tarun Mehta and Swapnil Jain in 2013, stands as one of India's prominent electric two-wheeler manufacturers, in direct competition with industry players like Ola Electric. The company had achieved a valuation of approximately $800 million following a $50 million investment from GIC in October of the prior year.
Hero MotoCorp's involvement with Ather Energy dates back to its Series B funding round in 2016 when it initially acquired a stake of 26-30% in the startup. In May 2022, Ather Energy successfully secured $128 million in funding from the National Investment and Infrastructure Fund's Strategic Opportunities Fund, along with investments from Hero and other stakeholders. In 2020, Hero MotoCorp had contributed Rs 84 crore ($11.21 million) in an extension of the Series C funding round. Distinguished investor Sachin Bansal, co-founder of Flipkart, is among Ather Energy's notable backers.
For FY2022, Ather Energy recorded a loss of Rs 344 crore, but in FY2023, the company reported a significant turnaround with a turnover of Rs 1,806.1 crore, as indicated in the exchange filing.
Popular Ather Scooter
Ather 450x | Ather 450s
Hero MotoCorp has introduced the new-generation Splendor+ XTEC 2.0, priced at ₹ 82,911 (ex-showroom, Delhi)
Discover the new-generation Splendor+ XTEC 2.0 by Hero MotoCorp, now available at ₹ 82,911 (ex-showroom, Delhi). Explore its advanced features and superior performance.
The latest generation of the Hero Splendor commemorates the 30th anniversary of the world's highest-selling motorcycle, featuring several premium and segment-first upgrades. This new model retains the classic Splendor silhouette while introducing contemporary enhancements such as a new LED headlamp with a high-intensity position lamp (HI PL) and an H-shaped signature taillight for a distinctive look.
Hero Splendor+ XTEC 2.0 New Features
The Hero Splendor+ XTEC 2.0 comes equipped with:
- Digital Speedometer: Includes an eco-indicator for better fuel efficiency tracking.
- Instrument Console: Features a Real-Time Mileage Indicator (RTMI) and Bluetooth connectivity for calls, SMS, and battery alerts.
- Safety Upgrades: Incorporates hazard lights for increased safety.
- Convenience Enhancements: Offers USB charging, a longer seat for improved comfort, and a larger glovebox with a hinge-type design.
- Aesthetic Updates: Available in a new dual-tone paint scheme.
Official Statement
Ranjivjit Singh, Chief Business Officer - India BU, Hero MotoCorp, remarked on the launch:
"Splendor is an iconic brand with an unmatched leadership spanning 30 years. The motorcycle has won millions of hearts and continues to encourage India's growth by empowering people through accessible mobility.
Splendor's enduring success is a testament to Hero MotoCorp's continuous innovation, brand trust, and product reliability. A perfect blend of iconic design, latest technology, and practicality, the Splendor is an emotion, a symbol of progress, and the unwavering aspirations of 40 million happy customers."
Hero Splendor+ XTEC 2.0 Engine Specifications
The new-generation Splendor+ XTEC is powered by the well-known 100 cc engine, producing 7.9 bhp at 8,000 rpm and 8.05 Nm of peak torque at 6,000 rpm. It features the Idle Stop Start System (i3S) for improved fuel economy, with a claimed efficiency of 73 kmpl.
Additionally, the service interval has been extended to 6,000 km, significantly reducing the running cost. Hero MotoCorp offers a warranty of 5 years or 70,000 km. The Splendor+ XTEC 2.0 is available in three dual-tone colors: Matte Grey, Gloss Black, and Gloss Red.
What You Can Expect From 2024 MG Gloster Facelift? Level 2 ADAS Confirmed!
New facelifted MG Gloster is coming soon. Here's what to expect from it!
MG Gloster has been in the Indian market since 2020 and it has been rivaling the SUVs like Toyota Fortuner, Skoda Kodiaq, Hyundai Tucson, etc. However, it was due for a mid life facelift for a long time. Finally, MG is all set to give its flagship SUV a comprehensive makeover in the coming few months in the form of 2024 MG Gloster facelift.
Based on the Maxus D90, from the house of SAIC Motors, the Gloster 2024 will come with a completely new front and rear end. On the design front, it will get vertically placed LED headlamps, horizontal placed slim LED DRLs, a massive hexagonal grille and rugged cladding all around the SUV.
Moreover, the front facing radar integrated into the grille along with the front windshield mounted camera confirms the presence of level 2 ADAS with camera + radar configuration.
Although not confirmed, we also expect self/auto parking feature in the 2024 MG Gloster facelift because of the front ultrasonic parking sensors.
Additionally, the facelifted MG Gloster is expected to continue with the same engine and transmission with no mechanical changes.
VinFast Reveals Specifcations of India Bound VF 3 Hatchback; Check Details
The VinFast VF 3 comes equipped with an electric motor which is positioned on the rear axle. This powertrain generates a maximum power of 42 bhp and 110 Nm of torque.
Key Highlights:
- VinFast VF 3: Electric subcompact SUV with 42 bhp powertrain.
- 27,649 reservations in 66 hours for VF 3.
- 210 km per charge, DC charger charges in 36 minutes.
- Two-door, four-seat layout, 191 mm ground clearance.
- VND 322 million, rivals MG Comet, Tata Punch.
VinFast VF 3: VinFast has recently revealed the detailed specs of the upcoming hatchback VF 3. The VinFast VF 3 is an electric sub-compact SUV that is set to rival cars like the MG Comet EV and Tata Punch EV in India. VinFast has two electric vehicles in its lineup to launch in India. The brand has already patented the VF 3’s design in India. According to the VinFast, they received around 27.649 bookings for the vehicle when they opened the pre-booking windows previously and these numbers were received in just 66 hours.
VinFast VF 3 Powertrain
The VinFast VF 3 comes equipped with an electric motor which is positioned on the rear axle. This powertrain generates a maximum power of 42 bhp and 110 Nm of torque. Talking about the acceleration, the VinFast VF 3 can sprint from 0 to 50 in just 5.3 seconds. The electric SUV is said to provide a range of 210 km on a solitary charge. For charging the E-SUV, a DC charger is expected to be on offer that will take around 36 minutes to charge the E-SUV.
VinFast VF3 Design
The electric SUV has a two-door configuration and a four-seat layout. Being a compact SUV, the VinFast VF 3 will come with an impressive ground clearance of 191 mm and a wheelbase of 2075 mm.
VinFast VF3 Price and Rivals
The VinFast VF3 comes with a price tag of VND 322 million (nearly Rs. 10.54 lakh). There is also a variant without a battery pack which is priced at VND 240 million (nearly Rs. 7.86 lakh). Additionally, there is a battery subscription on offer which is a more affordable option for the customers. Once launched in India, the VinFast VF 3 will rival the likes of MG Comet and Tata Punch.
BMW R 1300 GS Listed on India Website: Available in Three Variants
Explore the BMW R 1300 GS on BMW India website, featuring three variants to choose from. Find the perfect adventure companion today.
BMW Motorrad is gearing up to launch its flagship adventure tourer, the R 1300 GS, in the Indian market. The motorcycle is now listed on BMW's India website and will be offered in three variants: Trophy, Triple Black, and Option 719 Tramuntana.
Variants and Features
GS Trophy and Triple Black
Wheels: Both variants come with alloy wheels.
Tyres:
- Front: 120/70-R19
- Rear: 170/60-R17
The GS Trophy is equipped with dual-purpose tyres, while the Triple Black features road-biased tyres.
Option 719 Tramuntana
Wheels: Equipped with tubeless spoked rims.
Special Features
- Gold-anodised aluminium handlebars
- Gold-anodised rims
- Aurelius Green metallic paint scheme
- Exclusive Option 719 Shadow milled parts package
Engine and Performance
All three variants are powered by the same 1,300 cc boxer-twin cylinder engine, delivering:
- Power: 143 bhp at 7,750 rpm
- Torque: 149 Nm at 6,500 rpm
This engine is the most powerful boxer engine BMW Motorrad has ever used.
Chassis and Suspension
The R 1300 GS features an all-new chassis and suspension setup. Compared to its predecessor, the new design has resulted in a weight reduction of 12 kg.
Riding Modes
The motorcycle comes standard with four riding modes:
- Rain: For wet conditions
- Road: For general riding
- Eco: Maximises fuel efficiency
- Enduro: Specifically for off-road riding
Additionally, riders can opt for 'Pro' modes for enhanced performance.
Standard Equipment
BMW Motorrad has equipped the R 1300 GS with a range of advanced features as standard, including:
- Full Integral ABS Pro
- Engine drag torque control
- Dynamic brake assist
- Ride-off assistant
- Dynamic Traction Control
- Dynamic Cruise Control
- USB socket
- Additional 12 V socket
Carbike360 Says
The BMW R 1300 GS, with its advanced features and powerful engine, is set to be a significant addition to the adventure tourer segment in India. The three variants offer distinct features catering to different riding preferences and styles.
Tata Altroz Racer Teased Again; Showcases Sporty Characteristics and Features; Details
In a recent development, the brand has released a new teaser of the sportier version of the hatchback. The Altroz Racer will hit the ground in mid-June. Check out more details below.
Tata Altroz Racer: Tata Motors has been teasing the upcoming Atroz Racer for some time now. In a recent development, the brand released a new teaser featuring the sportier version of the hatchback. The Altroz Racer will hit the ground in the mid-June. Looking at the newly released teaser, we can get a clear idea of the features and design language of the upcoming hatchback. If you are curious to know more about the sporty hot hatch, get more details below.
Tata Altroz Racer New Teaser: Everything it Shows
The new teaser showcases some major design elements of the upcoming sports hatchback. Some noticeable things include a vibrant orange paint option with a blacked-out roof which looks similar to the one that was showcased at Auto Expo 2023. Additionally, there are black accents which can be seen on the bonnet, shoulder line, rear door handles and pillars which enhances the visual appeal of the hatchback.
Other noticeable design elements include a new dual white stripes that runs along the roof and bonnet. Also, there’s a Racer badging and shark fin antenna which looks simply great and makes it look like a real sports car in all terms.
Tata Altroz Racer: Features
The Atroz hatchback gets most of the modern features which include a 10.25-inch infotainment touchscreen display supporting Apple CarPlay and Android Auto, a 360-degree camera, a digital instrumental console, HuD, voice-controlled sunroof, connected car technology, a rear parking sensor and cruise control.
Tata Altroz Racer: Engine
the Atroz Racer will be powered by a 1.2 litre, 3-cylinder turbo petrol engine which makes 120 bhp of power and 170 Nm of torque. The 1.2-litre turbo petrol unit will be mated with a 6-speed manual and Dual Clutch Automatic gearbox (DCA) gearbox. Despite generating similar power figures, both the Hyundai i20 N Line and Altroz Racer will differ in performance, depending on the tuning.
Tata Altroz Safety Features
As far as safety is concerned, the Altroz Racer follows Tata’s standards with features such as 6 airbags, electronic stability control (ESC), TPMS, ISOFIX mounts, and 3-point seatbelts with reminders for all. Being an improved version of the standard Altroz, which scored 5 stars on Global NCAP crash tests, the Altroz Racer will definitely be safer in all terms.
Jawa Launches Yezdi Adventure Mountain Pack As Standard Kit; Check Details
Jawa Yezdi Motorcycles has launched the Mountain Pack for the Yezdi Adventure, adding touring accessories to the standard kit.
Jawa Yezdi: Jawa Yezdi Motorcycles has launched the Mountain Pack for the Yezdi Adventure, adding touring accessories to the standard kit. Priced at ₹2.15 lakh (ex-showroom), the Mountain Pack was previously an optional accessory for ₹17,000 and is now included in the bike's ex-showroom cost. This offer coincides with the start of the mountain riding season and is available for a limited time.
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