Salem Radio Network News Wednesday, February 1, 2023

Business

India’s Hero MotoCorp to invest $60 million in Zero Motorcycles

BENGALURU (Reuters) -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 is 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.

(Reporting by Nandan Mandayam in Bengaluru; editing by Uttaresh.V)

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