Hero MotoCorp enters electric three-wheeler market, to invest Rs 525 crore in Euler Motors

Hero MotoCorp's board approved a strategic investment of up to Rs 525 crore in Euler Motors Private Limited, to be made in one or more phases.

Hero MotoCorp has announced its foray into the electric three-wheeler segment by acquiring a significant stake in Euler Motors. The company’s board has approved a strategic investment of up to Rs 525 crore in Euler Motors Private Limited, to be made in one or more phases.

Executive Chairman Dr Pawan Munjal emphasised that this move reinforces the company’s commitment to sustainability, innovation, and customer-centric growth.

The investment is part of Hero MotoCorp’s broader vision to "Be the Future of Mobility" and aligns with its strategy to expand in the evolving electric vehicle (EV) market.

“This investment allows Hero MotoCorp to strengthen its presence in the rapidly growing electric three and four-wheeler segment while unlocking new business opportunities,” Munjal stated.

According to an official statement by the company, EVs projected to make up 35% of total three-wheeler sales in the near future and this investment places Hero MotoCorp in a strong position within the industry.

Euler Motors, which operates in 30 Indian cities, specialises in designing, manufacturing, and servicing electric three-wheelers. The company recently expanded its portfolio with the launch of its first electric commercial four-wheeler.