Hero MotoCorp’s EV investing strategy meets its first setback

The investment in Zero formed part of Hero’s broader strategy to build visibility in the EV ecosystem, which includes electric scooters, motorcycles, utility vehicles and battery replacement. Besides Ather, Hero also invested ₹Electric commercial vehicle startup Euler Motors made an investment of Rs 525 crore in March last year and partnered with Taiwanese battery replacement company Gogoro, which was founded in 2011 and later listed on Nasdaq.