Hero MotoCorp (HMCL), the leading two-wheeler manufacturer, is making a strategic entry into the rapidly growing electric three-wheeler market with an investment of up to Rs 525 crore (approximately $60 million) in Euler Motors, a company specializing in electric three-wheelers.
HMCL’s primary investment will be in Equity Shares and Series D Compulsory Convertible Preference Shares, giving it an approximate 32.5% stake on a fully diluted basis. Additionally, a portion of the investment may be used to acquire shares from existing Euler Motors shareholders through a secondary sale, the company stated in a regulatory filing.
The stake acquisition is expected to be completed by April 30, 2026.
“As we strengthen and diversify our presence in emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility,” Pawan Munjal, Executive Chairman, Hero MotoCorp.
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