Now Reading: Hero MotoCorp’s 720 crore Euler bet doubles sales in a year
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Hero MotoCorp’s 720 crore Euler bet doubles sales in a year
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.
Source: livemint.com
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