Hero MotoCorp, producer of bikes and scooters, has introduced it’s foray into electric three-wheeler class by buying a significant stake in Euler Motors.
The Company’s board has accepted a strategic funding of as much as ₹525 crore (in a number of tranches), in Euler Motors Private Limited.
“This investment will provide Hero MotoCorp with a strong foothold in the fast-growing electric three-wheeler market, where EVs are projected to account for 35% of total sales in the near future,” the corporate stated in a press release.
Euler Motors has a presence in 30 cities in India and is engaged in the designing, manufacturing and sale & service of electric three-wheelers. They lately launched their first electric industrial four-wheeler.
“Our strategic investment in Euler is a bold step towards realising our vision to “Be the Future of Mobility.” This funding reinforces our dedication to accelerated progress via each natural and inorganic enlargement, whereas highlighting the facility of collaboration and adaptableness in an ever-evolving market, stated Pawan Munjal, Executive Chairman, Hero MotoCorp.
“As we strengthen and diversify our presence in emerging mobility landscape, this investment allows us 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,” he added.
Published – March 21, 2025 12:10 pm IST
