Hero MotoCorp Limited has announced an investment of Rs 5.25 billion in Euler Motors to expand into the electric three-wheeler segment. The investment will be made in multiple tranches, enabling Hero MotoCorp to acquire a 32.5 per cent stake on a fully diluted basis. Reportedly, the transaction is scheduled for completion by April 30, 2025, through a combination of primary and secondary acquisitions.
Additionally, the investment will be made entirely in cash, and no regulatory or governmental approvals are required for completion. Hero MotoCorp’s primary investment will be in equity shares and Series D compulsory convertible preference shares of Euler Motors, with the possibility of acquiring additional shares from existing shareholders through a secondary sale.
Euler Motors designs, manufactures, sells, and services electric three-and four-wheelers, operating in 30 cities across India. In June 2024, the company raised Rs 2 billion in its Series C round, bringing total funding to Rs 5.7 billion to expand its national presence, enhance service infrastructure, and accelerate product development.
