Hero MotoCorp Ventures into Electric Future with Stake in Euler Motors

Hero MotoCorp plans to strengthen its presence in the electric vehicle sector by acquiring a 32.5% stake in Euler Motors for Rs 525 crore. This strategic investment supports the company's growth objectives and positions it within the expanding electric three-wheeler market poised to account for significant sales.

Hero MotoCorp has announced its entry into the electric three-wheeler market through a strategic investment. The company has acquired a 32.5% stake in Euler Motors for Rs 525 crore, marking its commitment to a future-focused mobility vision.

Pawan Munjal, Executive Chairman of Hero MotoCorp, stated in a regulatory filing that the investment is a demonstration of the company's drive towards both organic and inorganic expansion within this fast-evolving industry. The move not only diversifies Hero MotoCorp's portfolio but also opens up new business opportunities through collaboration and strategic alliances.

The investment bolsters Hero MotoCorp's foothold in a sector expected to see electric vehicles making up 35% of sales. This aligns with its ambitions to explore new frontiers, supported by Euler Motors' existing reach in 30 Indian cities and its recent launch of an electric commercial four-wheeler.

(With inputs from agencies.)