Private Equity

PE Fund Investments

Hero MotoCorp invests Rs.525-Cr in electric 3-wheeler maker Euler Motors

Entrackr   Euler Motors  

Motorcycle and scooter manufacturer Hero MotoCorp has invested INR 525 crore (approximately USD 60 million) in Delhi-based Euler Motors , a company focused on electric three wheelers. The investment, which will be made in one or more tranches, will provide the company with a 32.5% stake in Euler Motors on a fully diluted basis.The move marks Hero MotoCorp’s entry into the electric three-wheeler market. This is its second major EV investment, following a 40% stake in Ather Energy.For Euler, the new round has come within a year of a USD 24 million extended Series C round.Launched in 2018 by Saurav Kumar, Euler’s’ flagship model, the HiLoad EV, is claimed to be the most powerful electric cargo three-wheeler, offering a range of 170 kms.The firm recently expanded its product lineup with the launch of its first electric commercial four-wheeler. Currently operating in over 30 cities in India, Euler reported a turnover of INR 172 crore in FY 23-24, marking an increase from INR 49 crore in the previous year.

Between Jan-19 and Jan-25, Euler had attracted about USD 153 M from Athera Venture Partners, Blume Ventures, British International Investment, GIC, Piramal Enterprises, Others.