New Delhi, 20th March 2025
Hero Moto Corp has declared in a regulatory filing that it intends to invest roughly $60 million (Rs 525 crores) in Delhi-based Euler Motors in exchange for a 32.5% ownership stake in the company, following much conjecture regarding investments in the electric three-wheeler industry. After acquiring nearly 40% of Ather, this investment represents Hero Moto Corp.’s second major endeavor.
By this investment, the company will be able to offer both two-wheeler and three-wheeler electric vehicles, securing its position as the biggest producer of two-wheelers with internal combustion engines in India and gaining significant ownership in markets that represent almost 90% of the country’s sales of electric vehicles.
Hero MotoCorp Executive Chairman Pawan Munjal called the investment a daring step toward achieving the company’s strategy to “Be the Future of Mobility.”
He reaffirmed Hero MotoCorp’s commitment to faster growth through both organic and inorganic means and emphasized that this investment highlights the value of cooperation and flexibility in a shifting market.
The Saurav Kumar founded Euler Motors, a well-known company in India’s electric three-wheeler market, which is renowned for its HiLoad EV, which has a 170-kilometer range. Competing with industry titans like Tata Motors, Mahindra Electric, Piaggio, Kinetic Green, Altigreen, and others, the company, which recently introduced an electric four-wheeler, reported a total turnover of Rs 172 crores for FY23-24.
