Hero MotoCorp invests Rs 525 crore in Euler Motors for EV expansion

Hero MotoCorp, the world's largest two-wheeler manufacturer, has announced a strategic investment of up to ₹525 crore in Euler Motors, marking its entry into the electric three-wheeler market. This investment, which will be made in several tranches, is expected to provide Hero MotoCorp with a 32.5% stake in Euler Motors, a company that designs and manufactures electric three-wheelers and operates in over 30 cities in India. Pawan Munjal, Executive Chairman of Hero MotoCorp, emphasized that this move aligns with the company's vision to lead in sustainable mobility and highlights the growing importance of electric vehicles, which are projected to account for 35% of total sales in the near future. Additionally, Euler Motors has recently expanded its product lineup by launching its first electric commercial four-wheeler. This strategic investment follows Hero MotoCorp's previous investment in Ather Energy and reinforces its commitment to growth through innovation and sustainability. The company's shares rose 1.73% following the announcement, reflecting positive market sentiment towards this expansion.