Investment21 Mar 2025, 02:22 am
Hero MotoCorp Invests in Euler Motors, Expanding into Electric Three-Wheeler Market
AI Summary
Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, has approved a strategic investment of up to Rs. 525 crore in Euler Motors, a private limited company involved in the designing, manufacturing, selling and servicing of electric three and four-wheeler vehicles. This investment will provide Hero MotoCorp with a strong foothold in the fast-growing electric three-wheeler market, where EVs are projected to account for 35% of total sales in the near future. Euler Motors has a presence in 30 cities in India and recently launched their first electric commercial four-wheeler.
Key Highlights
- Hero MotoCorp to invest up to Rs. 525 crore in Euler Motors
- Euler Motors is involved in the designing, manufacturing, selling and servicing of electric three and four-wheeler vehicles
- Euler Motors has a presence in 30 cities in India and recently launched their first electric commercial four-wheeler
- This investment will provide Hero MotoCorp with a strong foothold in the fast-growing electric three-wheeler market
- EVs are projected to account for 35% of total sales in the near future