Hero MotoCorp To Acquire 32.5% Stake In Euler Motors For INR 525 Cr

by · Inc42

SUMMARY

  • Hero MotoCorp’s board approved a proposal to acquire a “significant stake” in the EV startup in one or more tranches, in a mix of primary and secondary investments
  • In a statement, the two-wheeler maker said that the investment will help it find a “strong foothold” in the fast-growing electric three-wheeler market
  • Founded in 2018, Euler Motors is an OEM which designs, manufactures, sells and services electric three-wheelers and min-trucks