With this acquisition, Hero MotoCorp is now a player in the emerging electric three-wheeler business.
Share Post
With this acquisition, Hero MotoCorp is now a player in the emerging electric three-wheeler business.
In March, 2025, Hero MotoCorp had made an announcement of acquiring 34.10 per cent shares of Euler Motors. The above has been made official today by the company as Hero has completed the acquisition for ₹510 crore. With the above, Hero MotoCorp now has a presence in the emerging electric three-wheeler segment. Hero will face competition from very well known rivals TVS and Bajaj Auto, both the brands have been in the three-wheeler business for decades.
This investment also finally marks Hero’s entry into the commercial vehicle space, which is already populated by two of its key rivals, TVS Motor Company and Bajaj Auto. The duo already have the King EV Max and Maxima XL Cargo electric CVs, respectively. But where Euler Motors takes the lead over these manufacturers is with its recently launched electric LCV, the Storm EV. It is the country’s first ADAS-enabled electric LCV with supporting features like front collision alert, dash camera with night vision technology, and much more.
This partnership marks a significant expansion of Hero's EV portfolio beyond its traditional two-wheeler market. This move builds upon Hero MotoCorp's existing electric vehicle (EV) investments, which include a stake in the recently listed Ather Energy and its electric own division, VIDA.
Hero had also showcased a unique three-wheeler concept called the Surge S32 last year at the Hero World 2024. The interesting bit about this concept was that it was an electric scooter which could be converted into an electric three-wheeler and gave the buyer the flexibility of using the Surge 32 as a scooter or a three-wheeler depending on the use case. The Euler acquisition might help Hero in getting the above concept into production form and also tap into Euler's existing dealership network will help expand its three-wheeler reach.
All Cars & SUVs Launching In India By End Of 2025: Next Big Launches
Pratik Rakshit 8 Jun, 2025, 11:53 AM IST
Tata Motors Introduces Factory-Fitted AC Cabins Across Full Truck Lineup
Pratik Rakshit 8 Jun, 2025, 10:44 AM IST
Toyota Fortuner Sees Another Price Hike Across Key Variants
Pratik Rakshit 8 Jun, 2025, 8:48 AM IST
Rare Earths Are the New Oil: Can India Build Its Own Supply Chain?
Pratik Rakshit 8 Jun, 2025, 8:06 AM IST
Xiaomi SU7 Ultra to be Playable in Gran Tourismo 7, Xiaomi Vision GT Concept EV Teased
Jamshed Avari 8 Jun, 2025, 8:04 AM IST
Looking for a new car?
We promise the best car deals and earliest delivery!