After Ather, Hero MotoCorp pumps Rs 525 Cr into another EV firm: Details
After strengthening its foothold in the two-wheeler EV market with Ather Energy and its in-house brand Vida, Hero MotoCorp has now entered the electric three-wheeler segment. The company announced a Rs 525 crore investment in Euler Motors, acquiring a 32.5% stake in the Delhi-based EV manufacturer.
Calling it a strategic move toward the future of mobility, Hero MotoCorp Executive Chairman Pawan Munjal emphasized that the investment aligns with the company’s broader vision of growth through both organic and inorganic expansion. He added that the collaboration would allow Hero MotoCorp to diversify its presence in the evolving EV landscape and tap into the rapidly expanding three- and four-wheeler electric vehicle market.
Hero MotoCorp’s board has approved the Rs 525 crore investment in multiple tranches, reinforcing its commitment to the electric mobility revolution. The company believes this move will provide it with a strong foothold in the electric three-wheeler segment, which is expected to account for 35 percent of total sales in the near future.
Euler Motors operates in 30 cities across India and recently expanded its portfolio by launching its first electric commercial four-wheeler.
Hero’s previous investment in the EV space
This isn’t Hero MotoCorp’s first major bet on EVs. The company already holds a 40.39% stake in Ather Energy, having recently increased its share by 2.2% with a Rs 124 crore investment. Additionally, Hero MotoCorp launched its own EV brand, Vida, in 2022, offering the Vida V2 electric scooters. These models are priced from Rs 74,000 to Rs 1,15,300, effective price after subsidies.
With this latest investment in Euler Motors, Hero MotoCorp is expanding its presence beyond two-wheelers, aiming to solidify its position as a key player in India’s fast-growing electric vehicle ecosystem.
