Hero MotoCorp Invests INR 525 Cr in Euler Motors, Expands EV Presence
The investment, approved by Hero MotoCorp’s Board of Directors on March 20, 2025, will be executed in multiple tranches, giving the company a 32.5% stake in Euler Motors on a fully diluted basis.
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Hero MotoCorp, a leading two-wheeler manufacturer, has announced a strategic investment of up to INR 525 crore (approximately USD 60 million) in Delhi-based electric three-wheeler maker Euler Motors. This move signals Hero’s deeper commitment to electric mobility, following its previous investment in Ather Energy.
The investment, approved by Hero MotoCorp’s Board of Directors on March 20, 2025, will be executed in multiple tranches, giving the company a 32.5% stake in Euler Motors on a fully diluted basis.
This funding round follows Euler’s USD 24 million extended Series C round last year.
Pawan Munjal, Executive Chairman of Hero MotoCorp, emphasised that this investment aligns with the company’s goal of shaping the future of mobility. “This strategic move showcases our dedication to innovation and sustainable growth,” he stated.
Founded in 2018 by Saurav Kumar, Euler Motors has made a strong mark in the electric commercial vehicle segment. Its flagship model, the HiLoad EV, is claimed to be the most powerful electric cargo three-wheeler, offering a range of 170 kilometers. Recently, the company ventured into the electric four-wheeler space, further diversifying its offerings.
Currently operational in over 30 cities, Euler Motors has demonstrated rapid growth, with its revenue surging from INR 49 crore in FY 2022-23 to INR 172 crore in FY 2023-24.
With this investment, Hero MotoCorp strengthens its foothold in the expanding electric three-wheeler market, positioning itself to capitalise on the accelerating EV adoption in India.
Hero MotoCorp, a leading two-wheeler manufacturer, has announced a strategic investment of up to INR 525 crore (approximately USD 60 million) in Delhi-based electric three-wheeler maker Euler Motors. This move signals Hero’s deeper commitment to electric mobility, following its previous investment in Ather Energy.
The investment, approved by Hero MotoCorp’s Board of Directors on March 20, 2025, will be executed in multiple tranches, giving the company a 32.5% stake in Euler Motors on a fully diluted basis.
This funding round follows Euler’s USD 24 million extended Series C round last year.
Pawan Munjal, Executive Chairman of Hero MotoCorp, emphasised that this investment aligns with the company’s goal of shaping the future of mobility. “This strategic move showcases our dedication to innovation and sustainable growth,” he stated.
Founded in 2018 by Saurav Kumar, Euler Motors has made a strong mark in the electric commercial vehicle segment. Its flagship model, the HiLoad EV, is claimed to be the most powerful electric cargo three-wheeler, offering a range of 170 kilometers. Recently, the company ventured into the electric four-wheeler space, further diversifying its offerings.
Currently operational in over 30 cities, Euler Motors has demonstrated rapid growth, with its revenue surging from INR 49 crore in FY 2022-23 to INR 172 crore in FY 2023-24.
With this investment, Hero MotoCorp strengthens its foothold in the expanding electric three-wheeler market, positioning itself to capitalise on the accelerating EV adoption in India.
