Hero MotoCorp to Invest In 3W-Maker Altigreen Propulsion Labs

Hero MotoCorp will reportedly invest in Bengaluru-based Altigreen Propulsion Labs, an electric three-wheeler maker. The largest two-wheeler manufacturer in India is likely to invest up to ₹900 crores; however, what percentage of the stake that will translate to in the 11-year-old company has not been specified. But if everything goes according to plan, this will be the second major investment by Hero MotoCorp in an electric mobility company after Ather Energy. 

This investment would also diversify Hero MotoCorp's portfolio into the electric three-wheeler sector which is currently occupied by rival Bajaj Auto and Mahindra & Mahindra. 

Altigreen reported a turnover of ₹115 crore and sold 2,800 units in 2024. Investment talks with Hero MotoCorp have reportedly been carried out for approximately the past six to nine months. 

If everything goes as per plan, Altigreen will be able to expand from its current 30-dealership network to 40 by year-end. The company is also developing an electric four-wheeler cargo vehicle for regional routes, according to Saran's previous statements.