Hero MotoCorp edges higher after acquiring significant stake in Euler Motors

Hero MotoCorp added 1.88% to Rs 3664.50 after the company announced the acquisition of a significant stake in Euler Motors for an aggregate amount of Rs 525 crore.

The investment in Euler Motors would be made in one or more tranches.

Euler Motors has a presence in 30 cities in India and is engaged in the designing, manufacturing and sale & service of electric three-wheelers. They recently launched their first electric commercial four-wheeler.

This investment will provide Hero MotoCorp with a strong foothold in the fast-growing electric three-wheeler market, where EVs are projected to account for 35% of total sales in the near future.

 

Dr. Pawan Munjal, executive chairman, Hero MotoCorp, said: Our strategic investment in Euler is a bold step towards realizing our vision to "Be the Future of Mobility."

This investment reinforces our commitment to accelerated growth through both organic and inorganic expansion, while highlighting the power of collaboration and adaptability in an ever-evolving market.

Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services. The Company is a leading two wheeler manufacturer and has a dominant presence in domestic market.

The company had reported 12.1% increase in standalone net profit to Rs 1,202.84 crore in Q3 FY25 as compared with Rs 1,073.38 crore in Q3 FY24. Revenue from operations rose 5% to Rs 10,210.78 crore in Q3 FY25.

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