New Delhi, March 21 – In a strategic move to expand its footprint in the electric mobility sector, Hero MotoCorp has acquired a 32% stake in Euler Motors, investing ₹525 crore in the electric commercial vehicle manufacturer. The acquisition marks Hero’s official entry into the electric three-wheeler and commercial EV market, signaling a major step toward its vision for sustainable and diversified mobility.
Strategic Expansion into Electric Three-Wheelers
With this acquisition, Hero MotoCorp positions itself to tap into India’s fast-growing electric commercial vehicle segment. Euler Motors, founded in 2015, has built a strong presence in over 30 cities with its electric three-wheelers and recently ventured into electric four-wheelers for commercial use.
Dr Pawan Munjal, Executive Chairman of Hero MotoCorp, commented on the development:
“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 in a dynamic market.”
Munjal further emphasized Hero’s focus on sustainability, innovation, and customer-centric progress, stating that the acquisition opens new doors in the electric three- and four-wheeler segments while unlocking adjacent business opportunities.
Euler Motors: Rising Star in Commercial EVs
Euler Motors has seen rapid growth in recent years, with a revenue of ₹172 crore in FY2024. The company’s strong performance and product focus align with Hero MotoCorp’s vision of a diversified and sustainable mobility portfolio.
Industry analysts estimate that electric three-wheelers could contribute up to 35% of total segment volumes in the near future, making Hero’s investment timely and strategic. This move also strengthens Hero’s competitive stance against emerging electric mobility players.
Hero’s Broader EV Strategy: Ather Energy and Vida
Hero MotoCorp has been steadily building its electric vehicle ecosystem. It was an early investor in Ather Energy, one of India’s leading electric two-wheeler companies. Over the years, Hero has increased its stake in Ather while maintaining the startup’s operational independence.
In parallel, Hero has launched its own electric two-wheeler brand, Vida, which works in close collaboration with Ather on charging infrastructure and technology sharing. The partnership has helped both brands accelerate development and build a robust EV charging network.
A Bold Move for the Future of Mobility
This acquisition further diversifies Hero MotoCorp’s EV portfolio across two-, three-, and four-wheeled electric vehicles. With the Indian government’s push for cleaner transportation and rising demand for electric cargo solutions in urban logistics, Hero is positioning itself at the forefront of India’s EV revolution.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.