WionDrive News Desk 
Hero MotoCorp has announced its intention to expand its investment in Ather Energy by acquiring an additional 2.2 percent stake for INR 124 crore. This investment involves purchasing additional shares from an existing shareholder of Ather Energy. The transaction, expected to be finalized by July 31, represents a significant step in Hero MotoCorp’s strategic partnership with Ather. Presently, Hero MotoCorp holds a 39.7 percent stake in the EV maker.
Ather Energy, headquartered in Bengaluru, is involved in the comprehensive ecosystem of electric automobiles, encompassing design, manufacturing, sales, servicing, software development, and charging infrastructure management. Additionally, the company is active in the storage, distribution, and management of electric power, including battery technology, and offers ancillary services.
In FY24, Ather Energy recorded a revenue of INR 1,753.8 crore, highlighting its growing presence and impact in the electric vehicle sector.
In a separate development, Hero MotoCorp’s eight facilities in India, including its six manufacturing plants, have been certified as ‘Zero-Waste-to-Landfill’ (ZWL). With India’s economy thriving but its solid waste management still lagging, overflowing landfills have posed numerous challenges. Recognising this, Hero MotoCorp took up the ambitious initiative to become completely zero waste-to-landfill, setting an inspiring example for the industry.
The initiative to go towards zero-waste started in the Neemrana manufacturing facility in Rajasthan from 2018-19. Subsequently, waste generation has reduced by 40%, with all the plants attaining a diversion rate above 99.9% well before the target deadline of 2025.
Waste minimisation focused on new ideas like water born painting systems, robotic painting systems, and high chemical contents in pre-treatment. That is true because these measures not only helped to cut costs and limit wastage but also decrease the emission of toxic substances and the usage of water.
A noteworthy creativity which has been implemented by Hero MotoCorp is utilisation of the grinding sludge for producing Ferric Alum, which is useful for textile and water treatment sectors. In this, the company was able to illustrate its capability to sustain a circular economy.
