Alpha Capital picks up a 'significant minority' stake in Hero Electric

With electric vehicles set to gain popularity, the country's largest electric two-wheeler maker Hero Electric has roped in Alpha Capital Advisors, a Mumbai-based investment management firm, as an equity partner. 

The automaker, planning to set up a new manufacturing facility in the South, is also planning to expand business with a target to sell 50,000 units in the current financial year.

"The fund infusion will help us diversify our product portfolio, acquire new technology and focus on strengthening our research and development capabilities to achieve a certain rate of localisation. Progress in all these areas will help accelerate Hero Electric’s