New Delhi, Sep 7 (TIWN) Electric scooter manufacturer Ather Energy is reportedly raising up to $250 million in a new funding round, as the debate on EV fires appears to be finally settling with no fresh battery fire cases being reported in the country.

According to Money Control, the funding round is in the early stage and the plan is to raise between $200-$250 million to chart a fresh beginning in the competitive EV two-wheeler market dominated by Hero Electric and Okinawa Autotech.  When reached, Ather Energy did not comment on the development.  In May, Ather Energy raised $128 million in a funding round led by sovereign wealth fund National Infrastructure Investment Fund (NIIF) and existing backer Hero MotoCorp, which invested nearly $56 million in the round.