Hero MotoCorp Completes 34.1% Stake Acquisition in Euler Motors

Key Highlights

• Hero MotoCorp completes 34.1% stake acquisition in Euler Motors

• Invests Rs 510 crore strategically in the electric commercial vehicle space

• Acquired 10 equity shares and 6,65,914 Series D CCPS shares

• Strengthens Hero’s position in the EV market alongside Ather and VIDA

• Supports Hero's diversification beyond 100- 150cc motorcycles

Hero MotoCorp has officially completed the acquisition of a 34.1% stake in Euler Motors, marking a significant milestone in its journey towards expanding into the electric commercial vehicle segment. This strategic investment is valued at Rs 510 crore, as confirmed in the company’s BSE filings.

In March 2025, Hero MotoCorp had announced its intention to acquire a 32.5% fully diluted stake in Euler Motors. The deal has now been finalized, with Hero acquiring:

• 10 equity shares

• 6,65,914 Series D Cumulative Compulsorily Convertible Preference Shares (CCPS)

With this, Hero MotoCorp now owns a 34.1% fully diluted stake in Euler Motors. The acquisition is a part of Hero's ongoing strategy to expand its presence in the electric mobility segment, particularly in electric 3-wheelers.

Hero’s Growing Focus on Electric Mobility

Hero MotoCorp has been actively working to strengthen its footprint in the EV market. The company already has:

• A significant stake in Ather Energy, an electric two-wheeler startup

• Its own EV brand, VIDA, under which it develops and sells electric two-wheelers

Hero’s recent stake in Euler Motors represents its first major move into electric commercial vehicles, especially 3-wheelers.

Surge S32 – A Unique Electric Vehicle

Earlier, Hero MotoCorp made headlines with the Surge S32, which is considered the world’s first convertible 2-wheeler-cum-3-wheeler EV. This innovative vehicle can switch between a 2-wheeler and 3-wheeler mode in just 3 minutes.

With the acquisition of Euler Motors, Hero MotoCorp is expected to further expand in the electric 3-wheeler space, using its technological edge and diversified EV offerings.

Strategic Importance of the Deal

This acquisition is seen as a significant development for Hero MotoCorp. It helps the company:

• Strengthen its position in the EV sector

• Overcome past challenges in diversifying its product lineup

• Build a solid foundation in the electric commercial vehicle market

Hero’s previous diversification into scooters, electric vehicles, and premium motorcycles had mixed success. This strategic step offers a fresh opportunity for Hero to broaden its market presence.

About Euler Motors

Euler Motors is a growing name in the electric commercial vehicle segment. The company focuses on:

• Designing, manufacturing, and maintaining electric 3-wheelers and 4-wheelers

• Marketing successful models like the HiLoad EV and Storm EV

Euler Motors has shown rapid growth in recent years:

Euler now operates in over 30 cities across India, and this partnership with Hero MotoCorp is expected to boost its growth further.

CMV360 Says

Hero MotoCorp’s acquisition of a 34.1% stake in Euler Motors marks a strategic leap into electric commercial vehicles, enhancing its role in India’s growing EV ecosystem. With this move, Hero not only gains a foothold in the electric 3-wheeler segment but also strengthens its long-term strategy of creating sustainable mobility solutions for the future.