Hero MotoCorp, the world’s largest two-wheeler manufacturer, is making a bold move into the electric three-wheeler segment by investing in Euler Motors. The company’s Board of Directors has approved a strategic investment of up to ₹525 crore in Euler Motors Private Limited, reinforcing its commitment to sustainable mobility and future growth.
This investment will allow Hero MotoCorp to tap into the rapidly expanding electric vehicle (EV) market, where electric three-wheelers are expected to account for 35% of total sales in the coming years. With a strong presence in 30 cities across India, Euler Motors specializes in designing, manufacturing, and servicing electric three- and four-wheelers. The company recently launched its first electric commercial four-wheeler, further strengthening its position in the EV sector.
Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp, emphasized that this investment aligns with the company’s vision of “Be the Future of Mobility.” By entering the electric three-wheeler space, Hero MotoCorp is diversifying its business portfolio while enhancing its leadership in the sustainable transportation sector. The investment will be made through a mix of primary and secondary transactions, giving Hero MotoCorp an approximate 32.5% stake in Euler Motors on a fully diluted basis.
In addition to this strategic expansion, Hero MotoCorp has also announced the establishment of a new company under Section 8 of the Companies Act, 2013, to drive its Corporate Social Responsibility (CSR) initiatives. This move highlights the company’s dedication to social impact and responsible business practices.
