Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has announced a major investment in the electric vehicle (EV) sector. The company will invest up to Rs 525 crore in Euler Motors, a growing EV startup known for its commercial three- and four-wheeler electric vehicles. This strategic move highlights Hero MotoCorp’s plan to expand its presence in the fast-growing electric mobility market while strengthening its commitment to sustainability and future innovation.
The investment was approved by Hero MotoCorp’s board on March 20, 2025, and will be completed in phases through a combination of primary and secondary investments. After the transaction is finalized, Hero MotoCorp will own approximately 32.5% of Euler Motors on a fully diluted basis.
Euler Motors: A Key Player in India’s EV Sector
Euler Motors, founded in 2015, has established a strong position in India’s electric vehicle market. The company focuses on designing, manufacturing, and servicing electric three-wheelers and commercial four-wheelers. Based in New Delhi, Euler Motors has expanded its presence to over 30 cities across the country, where it plays a key role in promoting electric mobility solutions.
The startup’s financial growth has been impressive in recent years. Euler Motors’ revenues grew from Rs 25 crore in FY22 to Rs 172 crore in FY24, reflecting the increasing demand for electric commercial vehicles in India. With the support of Hero MotoCorp’s investment, Euler aims to further scale its operations, expand its product range, and boost the adoption of electric vehicles across the country.
Hero MotoCorp’s Push Toward Electric Mobility
Hero MotoCorp’s decision to invest in Euler Motors is part of its broader strategy to diversify its electric vehicle offerings. Traditionally known for its two-wheeler dominance, Hero is now making significant strides in the EV space to cater to the rising demand for electric mobility solutions.
In a statement, Hero MotoCorp emphasized that the investment aligns with its long-term vision to lead the future of mobility. The company said, “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.”
Driving Innovation and Sustainability
This investment will allow Hero MotoCorp to strengthen its position in the EV sector while supporting Euler Motors’ efforts to promote sustainable mobility solutions. With increased financial backing, Euler Motors can enhance its manufacturing capabilities, develop new products, and broaden its reach in both urban and rural markets.
By focusing on electric three-wheelers and commercial vehicles, Hero MotoCorp and Euler Motors aim to contribute to India’s clean energy goals and reduce the environmental impact of transportation. The partnership is expected to accelerate the shift toward electric mobility in India and open new opportunities for sustainable innovation in the automotive sector.
As Hero MotoCorp continues to invest in the future of electric mobility, its collaboration with Euler Motors marks a significant milestone in the company’s journey toward achieving a cleaner, greener, and more sustainable transportation ecosystem.
