Hero MotoCorp has approved an additional investment of up to ₹2.75 billion (~$30.45 million) in Euler Motors. The investment is to be made in one or more tranches through a combination of primary infusion and/or secondary purchase.

Euler Motors is an associate company of Hero MotoCorp, in which the company currently holds a 34.1% stake on a fully diluted basis. Post the primary investment in Series E compulsorily convertible preference shares, Hero MotoCorp’s shareholding is expected to increase to approximately 36% on a fully diluted basis.

Euler Motors designs, manufactures, sells, and services electric three-wheelers and four-wheelers and operates across 64 cities in India. The company reported a turnover of ₹1.91 billion (~$21.15 million) for the financial year ended March 31, 2025, compared with ₹1.72 billion (~$19.04 million) in FY24 and ₹490 million (~$5.42 million) in FY23.

In addition, the Board approved investments of up to ₹32.5 million (~$366,510 million) in a solar power wheeling project for the company’s Haridwar facility and up to ₹46.7 million (~$0.52 million) in solar power wheeling projects for its Neemrana facility, Global Parts Centre, and Centre for Innovation and Technology in Jaipur. Both investments will be executed under the group captive mechanism.

Electric vehicle (EV) sales in India reached a record 2.27 million units in 2025, an over 16% year-over-year increase from 1.95 million units sold in 2025. EVs accounted for 8% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard.

The EV market consistently surpassed the 100,000-unit mark each month, with October recording the highest sales at 236,629 units, followed by November at 218,641 units and March at 205,299 units.

India now has over 8.1 million registered EVs. Electric three-wheelers constituted 35% (796,658) of all EVs sold during the year

In March 2025, Hero MotoCorp announced an investment of ₹5.25 billion (~$61.06 million) in Euler Motors to expand into the electric three-wheeler market.