Hero MotoCorp Acquires 32.5% Stake and Injects Rs 525 Cr in Euler Motors

Hero MotoCorp, a leading motorcycle and scooter manufacturer, has announced a strategic investment of up to Rs 525 crore (approx. $60 million) in Euler Motors, an electric three-wheeler startup.

Hero MotoCorp has made the leap in the market for electric three-wheelers. This is its second significant EV investment, following a 40% stake in Ather Energy.

Last month, Entrackr was the first to report on the transaction.

Hero MotoCorp's Board of Directors approved the investment at its March 20, 2025 meeting. The investment will be made in one or more tranches, giving the company a fully diluted stake of 32.5% in Euler Motors.

The new round follows a $24 million extended Series C round completed a year ago.

Pawan Munjal, Hero MotoCorp's Executive Chairman, described the investment as a bold step toward the company's vision of "Being the Future of Mobility." He emphasized that the investment demonstrates the value of collaboration and adaptability in a changing market, while also reinforcing Hero MotoCorp's commitment to accelerated growth through organic and inorganic expansion.

With a range of 170 kilometers, the HiLoad EV, the flagship model from Euler Motors, was introduced by Saurav Kumar in 2018. It is said to be the most potent electric cargo three-wheeler.

The Delhi-based business just unveiled its first electric commercial four-wheeler, broadening its range of products.

With operations in more than 30 Indian cities, Euler Motors has experienced substantial growth, reporting a turnover of Rs172 crore in the fiscal year 2023–24, up from Rs 49 crore the year before.

Hero MotoCorp's investment in Euler Motors should give the company a strong foothold in the electric three-wheeler market, as EVs are expected to account for a sizable portion of all sales in the years to come.