# Hero MotoCorp’s 720 crore Euler bet doubles sales in a year

2026-08-21T02:40:49+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

Hero MotoCorp's investment in electric commercial vehicle maker Euler Motors is paying off quickly, with sales and revenue more than doubling since the two-wheeler giant became its largest shareholder in March 2025. Euler's revenue jumped 101% to 433 crore in fiscal 2026, while sales rose 87% to 6,528 units, according to filings reviewed by Mint. Hero has invested 720 crore in Euler for a 34% stake, mirroring its earlier Ather Energy bet. Euler founder Saurav Kumar said Hero helped expand the dealer network from 30-35 cities to 112 cities. Hero chairman Pawan Munjal inaugurated a new production line at Euler's Palwal factory on Thursday. Euler's losses widened to 315 crore from 261 crore.

## Indian Opinion Analysis

Hero MotoCorp is replicating with Euler Motors the investment playbook that yielded a 16,000-crore paper gain from Ather Energy. The two-wheeler giant holds 34% of Euler after 720 crore of capital, mirroring the 29.2% it kept in Ather after listing. Euler, founded in 2018, competes in the electric three- and four-wheeler commercial segment, a market Bajaj and TVS already serve directly. Hero's strategy lets it avoid the cost of building its own commercial EV lineup while gaining a foothold. The key test will be whether Euler can narrow its 315 crore loss as revenue scales, and whether Hero eventually enters the segment directly as it did with two-wheelers. Euler has already expanded from 30-35 cities to 112 cities post-Hero's entry.

## Coverage

- livemint.com <https://www.livemint.com/companies/news/after-athers-gain-heros-electric-cv-bet-begins-to-scale-11787222464832.html>
  Led with Hero's investment gains then detailed Euler's growth from a single source interview, neutral business reporting

This story was synthesised by AI from the source linked above.

Tags: Ather Energy, Euler Motors, Hero MotoCorp, Pawan Munjal
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