Hero MotoCorp to invest up to Rs 525 crore in Euler Motors for 32.5% stake

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Two-wheeler manufacturer Hero MotoCorp has announced a strategic investment of up to Rs 525 crore in three-wheeled electric commercial vehicle maker Euler Motors.

The investment, to be made in one or more tranches, will give Hero MotoCorp a 32.5% stake in Euler Motors on a fully diluted basis, according to a stock exchange filing on Thursday.

Founded in 2018 by Saurav Kumar, Euler Motors focuses on designing, manufacturing, selling, and servicing electric three-wheelers. The company operates in 30 cities across India and recently launched its first…



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Hero MotoCorp to invest up to Rs 525 crore in Euler Motors for 32.5% stake


Two-wheeler manufacturer Hero MotoCorp has announced a strategic investment of up to Rs 525 crore in three-wheeled electric commercial vehicle maker Euler Motors.

The investment, to be made in one or more tranches, will give Hero MotoCorp a 32.5% stake in Euler Motors on a fully diluted basis, according to a stock exchange filing on Thursday.

Founded in 2018 by Saurav Kumar, Euler Motors focuses on designing, manufacturing, selling, and servicing electric three-wheelers. The company operates in 30 cities across India and recently launched its first…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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