Hero MotoCorp Expands into Electric Three-Wheelers with Strategic Stake in Euler Motors
New Delhi, March 20, 2025 – In a significant step towards its vision of “Be the Future of Mobility,” Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has announced a strategic investment of up to INR 525 crore to acquire a 32.5% stake in Euler Motors. This move marks Hero MotoCorp’s entry into the fast-growing electric three-wheeler segment, reinforcing its commitment to sustainability and future mobility solutions.
Investment Details and Strategic Impact
Hero MotoCorp’s board has approved the investment in Euler Motors Private Limited, which will be executed in one or more tranches. The acquisition is expected to conclude by April 30, 2025.
Euler Motors, founded in 2015, specializes in the manufacturing of electric L5 three-wheelers (3Ws) and electric light commercial vehicles (e-LCVs). With electric vehicles projected to account for 35% of total three-wheeler sales in the near future, this investment gives Hero MotoCorp a strong foothold in an expanding market.
Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp, emphasized the significance of the move, stating:
“Our strategic investment in Euler is a bold step towards realizing our vision to ‘Be the Future of Mobility.’ This investment 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.”
Euler Motors’ Growth Trajectory
Euler Motors has made remarkable strides in India’s electric vehicle space. The company has a presence in 30 cities and focuses on the design, manufacturing, and sale of electric three-wheelers. Recently, Euler launched its first electric commercial four-wheeler, further expanding its portfolio.
Financially, Euler Motors has shown consistent growth. The company reported a turnover of INR 172 crore for the fiscal year ending March 31, 2024, compared to INR 49 crore in FY 2022-23 and INR 25 crore in FY 2021-22. This rapid expansion highlights Euler’s increasing market penetration and potential for scaling operations.
The Road Ahead
Hero MotoCorp’s investment in Euler Motors aligns with its broader goal of expanding its presence in the electric mobility sector. By leveraging Euler’s expertise in the three-wheeler and commercial EV space, Hero MotoCorp is set to strengthen its position in India’s evolving transportation ecosystem.
As the shift to sustainable mobility gains momentum, this partnership is expected to drive significant advancements in electric vehicle innovation, infrastructure, and market adoption, positioning both companies as key players in India’s green mobility revolution.
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