New Delhi- Hero MotoCorp Ltd., a manufacturer of motorcycles and scooters, is making a strategic move into the electric three-wheeler market by acquiring a significant stake in Euler Motors Private Limited. This investment aligns with Hero MotoCorp’s vision to "Be the Future of Mobility" and reinforces its commitment to sustainable, innovative, and customer-centric transportation solutions.
The Hero MotoCorp board has approved an investment of up to ₹525 crore in Euler Motors, marking a bold step towards diversifying its portfolio and strengthening its foothold in the rapidly growing electric vehicle (EV) segment. With EVs projected to account for 35% of total three-wheeler sales in the near future, this investment positions Hero MotoCorp to capitalize on the expanding market demand.
By partnering with Euler Motors, Hero MotoCorp gains access to a leading player in the Indian electric three-wheeler market, which is rapidly transforming last-mile transportation. Euler Motors currently operates in 30 cities across India, offering design, manufacturing, sales, and service of electric three-wheelers. The company has also recently launched its first electric commercial four-wheeler, expanding its product portfolio.
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 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.”
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