New Delhi, India – Hero MotoCorp, the undisputed leader in the global motorcycle and scooter market, is making a bold move into the electric vehicle (EV) space. The company has announced a strategic investment of up to ₹525 crore in Euler Motors, a prominent Indian EV startup specializing in electric three- and four-wheeler commercial vehicles.
This investment signals Hero MotoCorp’s firm commitment to sustainability and its strategic expansion into the rapidly growing electric mobility sector, particularly in the commercial vehicle segment.
₹525 Crore Deal Gives Hero MotoCorp a Significant Stake
The investment, approved by Hero MotoCorp’s board on March 20, 2025, will be rolled out in one or more tranches. It will comprise a mix of primary and secondary investments. Upon completion of the deal, Hero MotoCorp will hold approximately 32.5% of Euler Motors on a fully diluted basis. This stake gives Hero a strong position in Euler Motors and a voice in its future direction.
Euler Motors: A Rising Star in the Electric Commercial Vehicle Space
Founded in 2015, Euler Motors has quickly established itself as a key player in India’s EV market. The company focuses on designing, manufacturing, and servicing electric three-wheelers and commercial four-wheelers. Headquartered in New Delhi, Euler Motors has expanded its presence to over 30 cities across India.
Strong Revenue Growth Attracts Investment
Euler Motors has demonstrated impressive financial growth, with revenues climbing from ₹25 crore in FY22 to ₹172 crore in FY24. This consistent growth trajectory has made Euler an attractive investment target for Hero MotoCorp.
Fueling Growth and Expansion for Euler Motors
The substantial investment from Hero MotoCorp will enable Euler Motors to:
Scale Operations: Expand its manufacturing capacity and distribution network.
Strengthen Product Portfolio: Develop new and innovative electric commercial vehicles.
Drive EV Adoption: Increase the adoption of electric commercial vehicles across India by offering competitive and reliable solutions.
Hero MotoCorp’s Vision: “Be the Future of Mobility”
Hero MotoCorp’s investment in Euler Motors is perfectly aligned with its broader strategy to diversify its electric vehicle offerings beyond the two-wheeler segment. This move underscores the company’s commitment to providing sustainable and innovative mobility solutions for the future.
A Commitment to Sustainable Mobility
“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,” Hero MotoCorp stated in a press release.
Electric 3-Wheelers: The Future of Urban Logistics?
Electric three-wheelers are gaining popularity in India as a cost-effective and eco-friendly solution for urban logistics and last-mile delivery. With increasing concerns about air pollution and rising fuel prices, electric three-wheelers offer a compelling alternative to traditional petrol and diesel-powered vehicles. This makes Euler Motors’ focus on this segment particularly promising.
The Road Ahead: Collaboration and Innovation
The partnership between Hero MotoCorp and Euler Motors represents a significant step forward for the Indian EV industry. By combining Hero MotoCorp’s vast experience in the automotive sector with Euler Motors’ expertise in electric commercial vehicles, the two companies are well-positioned to drive innovation and accelerate the adoption of electric mobility solutions across India. This collaboration could pave the way for a cleaner, more sustainable future for urban transportation in the country.