Hero MotoCorp, the world's largest two-wheeler manufacturer, has now forayed in the electric three-wheeler and four-wheeler space by acquiring 32.5 percent stake in Delhi-NCR-based Euler Motors.

The company is set to acquire the stake for INR 5.25 billion through Equity Shares and Series D Compulsory Convertible Preference Shares. It is also open to acquiring more stake from existing shareholders through secondary sale.

It was in January 2025, Euler Motors had raised USD 20 million in debt from responAbility Investments. At present, Euler Motors has an integrated manufacturing and R&D facility in Palwal, Haryana. Spread across 500,000 square feet the plant with a production capacity of 36,000 units annually has been built with an investment of INR 1 billion.

This move, Hero MotoCorp shared was part of its vision to ‘Be the Future of Mobility’.

Dr Pawan Munjal, Executive Chairman, Hero MotoCorp, said, “Our strategic investment in Euler is a bold step towards realising our vision to ‘Be the Future of Mobility.’ This investment reinforces our commitment to accelerated growth through both organic and inorganic expansion, while highlighting the power of collaboration and adaptability in an ever-evolving market. As a global automotive leader, Hero MotoCorp is driven by sustainability, innovation and customer-centric progress. As we strengthen and diversify our presence in emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility.”

The company expects electric vehicles to constitute 35 percent of three-wheeler sales in the country. With presence in around 30 cities, Euler Motors has established itself as a serious player in the electric three-wheeler and four-wheeler segment.

Till date, Euler Motors has sold around 8,000 electric vehicles, which includes 3,536 units in CY2024 alone. As of FY2024, the company reported revenue of INR 1.72 billion, which was a massive jump of 251 percent, as against INR 490 million in FY2023.

Comments (0)

ADD COMMENT

Link Copied!

VinFast has officially entered India's burgeoning electric vehicle market with the launch of its two made-in-India premium SUVs, the VF 6 and VF 7, starting at INR 1,649,000 and INR 2,089,000 (ex-showroom), respectively. This strategic introduction represents a significant step in the company's global expansion and underscores its commitment to supporting India's transition towards sustainable mobility. The new models are engineered to meet the specific demands of Indian consumers, combining advanced technology, safety and performance to redefine the premium EV ownership experience.

Designed with Indian families in mind, the VF 6 is a compact SUV that blends a sophisticated design with practical functionality. It is offered in three variants – Earth, Wind and Wind Infinity – each providing a distinct set of features. The model boasts an ARAI-certified range of up to 468 kilometres and supports rapid charging, capable of going from 10 percent to 70 percent battery in approximately 25 minutes. Its spacious interior, generous wheelbase and high ground clearance are tailored for comfort and practicality. Standard and upgraded features across the trims include a large infotainment screen, vegan leather upholstery, ventilated front seats, advanced driver-assistance systems (ADAS) and a comprehensive suite of safety technologies including seven airbags.

The larger VF 7 SUV presents a bold design and is available in five variants, including Earth, Wind, Sky, Wind Infinity and Sky Infinity, with both front-wheel and all-wheel-drive configurations. It offers a choice of two battery packs, with the top-tier model delivering an impressive range of up to 532 kilometres. Performance is a key highlight, with the dual-motor Sky variant accelerating from 0 to 100 kmph in just 5.8 seconds. The VF 7 is equipped with a host of premium amenities as standard, such as a coloured head-up display, panoramic glass roof on Infinity trims, a powerful audio system and sophisticated cabin technology.

To ensure a seamless ownership experience, VinFast is establishing a robust national infrastructure. This includes a planned network of dealer touchpoints and service workshops across 27 cities. The company has also forged key strategic partnerships to provide tailored financing options, a nationwide charging infrastructure and comprehensive after-sales support. A cornerstone of its local commitment is a new state-of-the-art manufacturing facility in Thoothukudi, Tamil Nadu, where the vehicles will be assembled for the domestic market and future export. Leveraging its international experience from operations across North America, Europe and Asia, VinFast is positioned to become a major contributor to India's electric future.

Pham Sanh Chau, CEO of VinFast Asia, said, “Today marks a historic milestone – the launch of cars that are not just made in India, but made by Indians, for Indians. We are introducing a complete electric mobility ecosystem thoughtfully designed for Indian families. The VF 6 and VF 7 embody the perfect harmony of practical design, premium quality and cutting-edge technology that Indian consumers aspire to. Backed by our state-of-the-art Thoothukudi facility and strong ecosystem partnerships, we are committed to supporting India’s vision of becoming a global leader in electric mobility.”

Comments (0)

ADD COMMENT

Link Copied!

VE Commercial Vehicles Limited (VECV), a joint venture between the Volvo Group and Eicher Motors, has inked a Memorandum of Understanding (MoU) with Jio‑bp pulse to expand and streamline charging access for its electric commercial vehicle customers.

As part of the understanding, all Eicher Trucks and Buses’ EV customers will now get seamless access to Jio‑bp’s network of over 6,000 charging points across India.

Jio-bp, the fuel retail joint venture of Reliance Industries and bp, operates under the brand name of Jio-bp pulse in the electric mobility space, which has established itself as one of the largest and fastest growing EV charging networks in India.

The aim of the partnership is to accelerate the adoption of electric commercial vehicles and provide peace-of-mind to customers for charging network anxiety. Under the agreement, VECV has integrated public charging network discoverability directly on the My Eicher fleet management app, which provides CV customers seamless discovery on EV chargers around them.

Vinod Aggarwal, Managing Director and CEO, VECV, said, “The MoU with Jio‑bp pulse represents a major milestone in our journey to electrify trucking in India. By integrating Jio-bp pulse’s extensive charging network into our My Eicher app, we are resolving a critical barrier to electric fleet adoption by facilitating seamless access to high‑power chargers wherever our vehicles operate. The collaboration between VECV and Jio-bp pulse will accelerate the transition to zero‑emission logistics, ensuring our customers can confidently embrace electric mobility at scale.”

Sarthak Behuria, Chairman, Jio-bp, said, “Collaboration between Jio-bp and VECV represents a significant step forward in our vision to transform India’s mobility landscape. Electric mobility is a cornerstone of this transformation, and this partnership plays a pivotal role in electrifying the critical trucking sector and driving EV adoption among fleet operators. Every such alliance brings us closer to realizing the Government’s ambitious goal of widespread electric vehicle adoption across the country.”

Comments (0)

ADD COMMENT

Link Copied!

Hyundai Motor India (HMIL) is expanding its Creta Electric lineup with three new variants: the Creta Electric Excellence, the Creta Electric Executive Tech and the Creta Electric Executive (O).

This expansion aims to make electric vehicles more accessible to a wider audience by offering more choices and features. The new variants also address a key concern for EV owners by significantly increasing the driving range.

The Creta Electric will now be available with two battery pack options:

• A 42 kWh battery with a claimed driving range of 420 km.
• A 51.4 kWh battery with a claimed driving range of 510 km.

In addition, the Creta Electric is now equipped with wireless Apple CarPlay and Android Auto via a wired-to-wireless adapter. Additionally, higher-end trims will offer a dashcam and rear wireless charging.

The new variants also introduce specific features:

• The Excellence trim (42 kWh) comes with advanced driver-assistance systems (ADAS), a surround-view monitor, an electric driver and passenger seat and ventilated front seats.
• The Executive Tech trim (42 kWh) adds a voice-enabled panoramic sunroof and ventilated front seats.
• The Executive (O) trim (51.4 kWh) also features a voice-enabled panoramic sunroof.

Hyundai is also introducing two new colour options for the Creta Electric: Matte Black and Shadow Grey.

Tarun Garg, Whole-Time Director and Chief Operating Officer, Hyundai Motor India, said, “We are thrilled to elevate our commitment to innovation by advancing our electric offering, the Creta Electric. The launch of new variants and high driving range in the Creta Electric marks a bold step forward, capturing the spirit of today’s aspirational and new-age customers. Each variant has been meticulously designed to meet the evolving needs of modern customers. Further, the high driving range across both battery packs underscores our dedication to delivering an exceptional electric driving experience, seamlessly blending cutting-edge technology with convenience. As the festive season gains momentum, these new offerings empower families to embark on journeys that are not only meaningful and memorable, but also sustainable.”

Comments (0)

ADD COMMENT

Link Copied!

Euler Motors, a leading manufacturer of electric commercial vehicles, has signed an agreement with logistics company Pickkup.io to supply 200 electric four-wheeler cargo vehicles.

The new fleet of Storm T1500 vehicles will be used for intracity logistics and last-mile delivery services in the Delhi-NCR and Chandigarh Tricity regions.

This agreement marks the third phase of a growing partnership between the two companies. Pickkup.io has already integrated 25 Euler Motors EVs into its fleet, which it shared are successfully operating on the ground. The additional 200 vehicles will help Pickkup.io expand its capacity for existing clients and support new partnerships.

Ankush Sharma, Co-founder & CEO, Pickkup.io, said, “This marks the third delivery phase under our ongoing MoU with Euler. What sets them apart is their on-time services and openness to feedback. The service ecosystem they’ve built is solid, and we’re already in discussions to scale up with additional units in the future. This journey and its achievements are the result of joint efforts by everyone who has contributed in their own way – our driver partners, ground team, admin team, and operations team – each working with their fullest dedication to make our services seamless and our customer experience exceptional, all under the banner of Pickkup”

Vani Rikhy Mehra, VP – Sales and mobility, Euler Motors, added, “Our partnership with Pickkup.io reflects the growing trust in electric mobility as a sustainable and scalable solution for logistics. With this MoU for 200 Storm T1500 vehicles, we are strengthening our footprint in Delhi NCR as well as Chandigarh Tricity while supporting Pickkup.io’s mission to deliver efficient, reliable, and environmentally responsible logistics services. At Euler, we are committed to building products and a service ecosystem that empower businesses to transition smoothly to electric fleets, reduce emissions, and achieve long-term operational savings.”

Comments (0)

ADD COMMENT

Link Copied!