Electric two-wheeler start-up Ultraviolette Automotive had applied for the ‘X44’ name trademark two months before Hero MotoCorp applied for a trademark with the ‘X440’ name.
Hero MotoCorp will contribute Rs 550 crores, which will result in an increase in their ownership stake in Ather which is currently 33.1 per cent. The rest will come from GIC.
In a letter dated August 30, Greaves Electric Mobility (GEM) has urged the Society of Manufacturers of Electric Vehicles to expressly clarify that GEM is not a part of the EV lobby.
