Hero MotoCorp, recognized as the largest manufacturer of two-wheelers globally by volume, has disclosed in a regulatory filing that it has secured a 32.5 per cent ownership in electric three-wheeler producer Euler Motors. The investment amounts to ₹525 crore in Euler Motors on a fully diluted basis, executed in one or more phases. This acquisition marks Hero's second significant investment in an Indian electric vehicle company, following its substantial stake in Ather Energy, which is based in Bengaluru.

Hero MotoCorp Acquires Stake In Euler Motors

This initiative marks Hero MotoCorp's entry into the electric three-wheeler market. Euler Motors specializes in electric commercial vehicles and currently operates in more than 30 cities nationwide. The company began its journey in 2015 with electric three-wheelers and has recently launched its first electric four-wheeler for commercial use.

Regarding the acquisition, Dr Pawan Munjal, Executive Chairman of Hero MotoCorp, stated, "Our strategic investment in Euler represents a significant move towards achieving our vision to 'Be the Future of Mobility.' This investment underscores our dedication to rapid growth through both organic and inorganic means while emphasizing the importance of collaboration and adaptability in a constantly changing market. As a leading global automotive company, Hero MotoCorp is committed to sustainability, innovation, and customer-focused development. By enhancing and diversifying our presence in the emerging mobility sector, this investment enables Hero MotoCorp to enter the swiftly expanding electric three and four-wheeler market, while also unlocking new business opportunities and reinforcing its leadership in sustainable mobility."

With projections indicating that electric three-wheeler sales will account for 35 per cent of total volumes in the coming years, Hero MotoCorp appears to be positioning itself advantageously in this sector. It is worth noting that Euler Motors reported a turnover of ₹172 crore in FY2024.

Heros Stake In Ather Energy

Hero was one of the initial investors in Ather Energy and gradually raised its ownership in the Bengaluru-based electric two-wheeler company over the past ten years. Although Ather maintains its independence, both Ather and Hero's electric two-wheeler division, Vida, collaborate on charging solutions and infrastructure development.

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