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Hero MotoCorp to enter electric-3W segment, invests $60 Mn in Euler Motors

The investment, which will be made in one or more tranches, will give the business a fully diluted 32.5% ownership in Euler Motors, a three-wheeler manufacturing brand.
PrashantPrashant20-Mar-25 4:29 PM
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Hero MotoCorp to enter electric-3W segment, invests $60 Mn in Euler Motors

Hero MotoCorp, an electric two-wheeler Original Equipment Manufacturer(OEM) is all set to enter India’s electric three-wheeler segment with its announcement to invest nearly Rs 525 crore (approximately $60 million) in Euler Motors, Entrackr reported. 


According to the report, the update came as the second major investment by the company followed by a a 40% stake in Ather Energy.


The investment was approved by Hero MotoCorp's Board of Directors during its March 20, 2025, meeting. The investment, which will be made in one or more tranches, will give the business a fully diluted 32.5% ownership in Euler Motors, a three-wheeler manufacturing brand.


The $24 million extended Series C round was completed within a year of the initial round.


About Euler Motors


Euler Motors was launched in 2018 by Saurav Kumar with its flagship model, the HiLoad EV which claims to be the most powerful electric cargo three-wheeler with a 170-kilometer range.


The Delhi-based company recently introduced its first electric commercial four-wheeler, broadening its range of products. With operations in more than 30 Indian locations, Euler Motors has experienced notable expansion. In the fiscal year 2023–24, the company reported a turnover of Rs 172 crore, a substantial rise from Rs 49 crore the year before.



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