Hero MotoCorp To Invest Rs 525 Crore In Euler Motors, Expanding Into Electric Three-Wheelers

This investment will help Hero MotoCorp to have a strong hold in electric three-wheeler market, where EVs are projected to account for 35 percent of total sales in the near future.

Euler Motors has a presence in 30 cities in India and is engaged in the designing, manufacturing and sale & service of electric three-wheelers. They recently launched their first electric commercial four-wheeler.

Last Year Euler Motors launched India's first ADAS-Equipped Electric LCV range; the Storm EV LongRange 200 and Storm EV T1250. The Storm EV LongRange 200 is priced at Rs 12.99 lakhs ex-showroom and the Storm EV T1250 is priced at Rs 8.99 lakh (ex-showroom).

Alongside the investment, Hero MotoCorp has also announced plans to establish a company under Section 8 of the Companies Act, 2013, dedicated to corporate social responsibility (CSR) initiatives. The company will focus on social development programs, subject to necessary regulatory approvals.

Dr. Pawan Munjal, Executive Chairman, Hero MotoCorp, said, “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. As a global automotive leader, Hero MotoCorp is driven by sustainability, innovation and customer-centric progress. As we strengthen and diversify our presence in emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility.”