<p>New Delhi: Hero MotoCorp on Thursday said it has forayed into the electric three-wheeler segment by acquiring a 32.5 per cent stake in Euler Motors for Rs 525 crore.</p>.<p>"Our strategic investment in Euler is a bold step towards realising our vision to be the future of mobility," Hero MotoCorp Executive Chairman Pawan Munjal said in a regulatory filing.</p>.Hero Motors files draft papers for Rs 900-crore IPO.<p>This investment reinforces the company's commitment to accelerated growth through organic and inorganic expansion while highlighting the power of collaboration and adaptability in an ever-evolving market, he added.</p>.<p>"As we strengthen and diversify our presence in the emerging mobility landscape, this investment allows the company to venture into a rapidly growing electric three and four-wheeler market while unlocking adjacent business opportunities," Munjal said.</p>.<p>The company said its board has approved a strategic investment of up to Rs 525 crore, in one or more tranches, in Euler Motors Private Limited.</p>.<p>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 per cent of total sales in the near future, it added.</p>.<p>Euler Motors has a presence in 30 cities in India and is engaged in the designing, manufacturing and sale & service of electric three-wheelers.</p>.<p>The company recently launched its first electric commercial four-wheeler.</p>.<p>Euler's turnover for the financial year ended March 31, 2024, stood at Rs 172 crore.</p>.<p>Hero MotoCorp said its stake in Euler would be around 32.5 per cent on a fully diluted basis.</p>.<p>Additionally, within the aforementioned amount, HMCL may acquire shares from existing shareholders of Euler by way of secondary sale, it added.</p>.<p>Hero MotoCorp shares on Thursday ended 1.73 per cent up at Rs 3,596.90 apiece on BSE. PTI MSS BAL BAL</p>
<p>New Delhi: Hero MotoCorp on Thursday said it has forayed into the electric three-wheeler segment by acquiring a 32.5 per cent stake in Euler Motors for Rs 525 crore.</p>.<p>"Our strategic investment in Euler is a bold step towards realising our vision to be the future of mobility," Hero MotoCorp Executive Chairman Pawan Munjal said in a regulatory filing.</p>.Hero Motors files draft papers for Rs 900-crore IPO.<p>This investment reinforces the company's commitment to accelerated growth through organic and inorganic expansion while highlighting the power of collaboration and adaptability in an ever-evolving market, he added.</p>.<p>"As we strengthen and diversify our presence in the emerging mobility landscape, this investment allows the company to venture into a rapidly growing electric three and four-wheeler market while unlocking adjacent business opportunities," Munjal said.</p>.<p>The company said its board has approved a strategic investment of up to Rs 525 crore, in one or more tranches, in Euler Motors Private Limited.</p>.<p>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 per cent of total sales in the near future, it added.</p>.<p>Euler Motors has a presence in 30 cities in India and is engaged in the designing, manufacturing and sale & service of electric three-wheelers.</p>.<p>The company recently launched its first electric commercial four-wheeler.</p>.<p>Euler's turnover for the financial year ended March 31, 2024, stood at Rs 172 crore.</p>.<p>Hero MotoCorp said its stake in Euler would be around 32.5 per cent on a fully diluted basis.</p>.<p>Additionally, within the aforementioned amount, HMCL may acquire shares from existing shareholders of Euler by way of secondary sale, it added.</p>.<p>Hero MotoCorp shares on Thursday ended 1.73 per cent up at Rs 3,596.90 apiece on BSE. PTI MSS BAL BAL</p>