Hero MotorCorp to invest Rs 525 crore in Euler Motors

India’s largest 2-wheeler maker plans to diversify into the electric 3-wheeler segment.

Hero MotoCorp has announced that it plans to invest Rs 525 crore in electric 3-wheeler maker Euler Motors, gaining a significant stake in the company.

The board of directors of Hero MotoCorp has approved a strategic investment, which will be made in one or more tranches. With this investment, India’s largest 2-wheeler maker plans to diversify into the electric 3-wheeler segment, which is projected to account for 35% of total sales in the near future.

Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp, said, “Our strategic investment in Euler is a bold step towards realizing our vision to "Be the Future of Mobility." This investment reinforces our commitment to accelerated growth through both organic and inorganic expansion, while highlighting the power of collaboration and adaptability in an ever-evolving market.

As a global automotive leader, Hero MotoCorp is driven by sustainability, innovation and customer-centric progress. As we strengthen and diversify our presence in emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility.”

Euler Motors has a presence in 30 cities in India and is engaged in the designing, manufacturing and sale & service of electric 3-wheelers. The company recently launched its first electric commercial 4-wheeler.