Hero's Electric Leap: ₹525 Crore Power Play with Euler Motors

Hero MotoCorp is set to strengthen its presence in the electric vehicle market by acquiring a significant stake in Euler Motors. The company’s board has approved an investment of up to ₹525 crore, reinforcing its commitment to sustainable mobility and business growth.

Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp, stated, “Our strategic investment in Euler is a bold step towards realizing our vision to 'Be the Future of Mobility.’” He highlighted the importance of innovation, sustainability, and adaptability in shaping the future of transportation.

Euler Motors, currently operating in 30 Indian cities, specializes in designing, manufacturing, selling, and servicing electric three-wheelers. The company has also recently launched its first electric commercial four-wheeler. This investment positions Hero MotoCorp to capitalize on the rapidly growing EV sector, where electric three-wheelers are projected to account for 35% of total sales in the near future.

News by Rahul Yelligetti.