Mumbai, March 21 -- 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...