Hero MotoCorp has announced a strategic investment in Euler Motors, marking its entry into the electric three-wheeler segment. The company’s board has approved an investment of up to INR 5.25 billion (USD 63 million) in one or more tranches.
The investment is aimed at strengthening Hero MotoCorp’s position in the expanding electric vehicle (EV) market. EVs are projected to account for 35% of total three-wheeler sales in the near future.
Euler Motors, which operates in 30 cities across India, designs, manufactures, and services electric three-wheelers. The company has also recently introduced its first electric commercial four-wheeler.
This move aligns with Hero MotoCorp’s broader strategy to expand its presence in new mobility segments and explore adjacent business opportunities in the EV sector.