Hero MotoCorp Expands EV Push, Commits Additional ₹275 Crore to Euler Motors

Country’s largest two-wheeler maker Hero MotoCorp recently said its Board has approved an additional investment of ₹275 crore in electric vehicle firm Euler Motors. The investment is expected to be completed by April 30, 2026.

In a separate decision, the Board cleared a proposal to enter into an arrangement with Clean Max Enviro Energy Solutions (CleanMax) to set up a Special Purpose Vehicle (SPV). The SPV will cater to Hero MotoCorp’s manufacturing plant at Neemrana, the Global Parts Centre at Neemrana, and the Centre for Innovation and Technology in Jaipur, Rajasthan.

The proposed SPV will be incorporated for a solar power wheeling project under the group captive mechanism, as part of the company’s renewable energy and sustainability initiatives.