Latest news with #PawanMunjal
India Today
01-07-2025
- Automotive
- India Today
Vida VX2 electric scooter launched, price starts at Rs 59,490
Vida, Hero MotoCorp's electric mobility brand, has launched the new VX2 electric scooter, With prices starting at Rs 59,490 (ex-showroom).Two variants with Battery-as-a-Service optionThe VX2 is available in two variants, VX2 Go and VX2 Plus and introduces an Battery-as-a-Service (BaaS) model. This allows customers to lease the battery instead of buying it outright, significantly reducing the upfront cost. Under this plan, the VX2 Go is priced at Rs 59,490 (ex-showroom) and the VX2 Plus at Rs 64,990 (ex-showroom). Without BaaS, the prices go up to Rs 99,490 (ex-showroom) for the Go variant and Rs 1,09,990 for the Plus (ex-showroom). advertisementBattery, range, and charging capabilitiesVida claims that the BaaS model brings down running costs to just Rs 0.96 per kilometre. As an added benefit, if battery performance drops below 70%, Vida will replace it free of charge during the subscription period. The VX2 Go features a 2.2kWh battery that delivers an IDC-certified range of up to 92km, while the VX2 Plus gets a larger 3.4kWh battery capable of up to 142km on a full charge. Both batteries are removable, offering flexible three-way charging options. Fast charging allows the battery to reach 80% in just 60 minutes. Using the standard 580W charger, a full charge takes about 3 hours and 53 minutes for the Go and around 5 hours and 39 minutes for the VX2 rides on 12-inch wheels, features a sleek, flowing design with a familiar Vida silhouette and comes in seven contemporary colour options, including exclusive shades for the Plus variant. The scooter gets a long, flat single-piece seat, a pillion backrest, and a practical front-mounted frunk for added utility. Underseat storage is generous, 33.2 litres in the Go variant and slightly less in the Plus due to its dual battery and featuresadvertisementIn terms of tech, both variants come equipped with cloud connectivity, remote immobilisation, turn-by-turn navigation, and real-time ride statistics via smartphone integration. The Go variant sports a 4.3-inch LCD display and offers two riding modes, Eco and Ride. The Plus variant upgrades to a 4.3-inch TFT display and includes an additional Sport mode. Both offer Firmware Over-The-Air (FOTA) updates, enhancing the experience over is backing the VX2 with India's largest EV ecosystem, which includes over 3,600 charging points and more than 500 sales and service centres. A comprehensive warranty of 5 years or 50,000 km further boosts customer confidence. The launch of the VX2 marks a significant milestone in Vida's mission to build not just electric vehicles but an ecosystem that empowers cleaner, smarter on the occasion, Dr Pawan Munjal, Executive Chairman of Hero MotoCorp, said, "VIDA was born from a vision far greater than building electric vehicles—we set out to spark a movement. A movement that puts people and planet first, that redefines mobility as a force for good, and that gives every individual—not just the few—the opportunity to thrive, grow, and live better. VIDA means 'life'—and that is exactly what we aim to bring: cleaner air, better choices, and smarter journeys. A name that reflects our purpose—to drive meaningful progress and create a positive impact, not just in cities, but across every corner of Bharat and the world. On the birth anniversary of our Founder Chairman, Dr. Brijmohan Lall Munjal, we renew our commitment to build a future that is smart, connected, and conscious. With the VIDA VX2 EVOOTER, we are not simply launching a product—we are delivering an ecosystem that empowers change. This is our promise: to make sustainable mobility widely accessible, to make our products highly affordable, and to always lead with trust, responsibility, and purpose. Backed by Hero MotoCorp's legacy, VIDA will power a better tomorrow—for everyone."Subscribe to Auto Today Magazine- Ends
Economic Times
19-05-2025
- Automotive
- Economic Times
Euler Motors raises Rs 638 cr in funding round led by Hero MotoCorp
Mumbai: Electric commercial vehicle startup Euler Motors on Monday announced that it has raised Rs 638 crore in a Series D funding round led by Hero MotoCorp. The round also saw participation from existing investor British International Investment (BII), the UK's development finance institution, Euler Motors said in a statement. With this round, Euler Motors has, so far, raised approximately Rs 1,420 crore in various funding rounds, it added. This fresh capital infusion will be utilised in expanding the company's sales and service network while advancing new product development, the statement said. Euler Motors said it has secured investment amid rapidly scaling operations and strengthening of leadership in the commercial EV segment. The company has seen strong adoption across the e-commerce, retail and logistics segments, backed by a growing portfolio, comprising the electric three-wheeler high-HiLoad EV and the recently launched four-wheeler LCV StormEV. "We welcome Hero MotoCorp as a strategic investor in Euler Motors. This is a strong vote of confidence both in India's commercial electric mobility future and in Euler Motors' execution and products," Euler Motors founder and CEO Saurav Kumar said. With this fresh capital and strategic backing from new and existing investors, the company is set to accelerate its scale and continue innovating to deliver superior products, he added. "As we strengthen and diversify our presence in the 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," said Pawan Munjal, Executive Chairman, Hero MotoCorp. Founded in 2018, Euler Motors investors include Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund. "...Since our initial investment in 2023, Euler Motors has advanced e-mobility adoption and created better jobs. This aligns closely with our ambition to support India's net-zero emissions target and enables us to drive scalable impact in a sector vital to both economic growth and environmental progress," said Abhinav Sinha, Managing Director and Head of Technology, Telecoms and Sustainable Industrials at British International Investment.
Time of India
19-05-2025
- Automotive
- Time of India
Euler Motors raises Rs 638 cr in funding round led by Hero MotoCorp
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mumbai: Electric commercial vehicle startup Euler Motors on Monday announced that it has raised Rs 638 crore in a Series D funding round led by Hero MotoCorp . The round also saw participation from existing investor British International Investment (BII), the UK's development finance institution, Euler Motors said in a this round, Euler Motors has, so far, raised approximately Rs 1,420 crore in various funding rounds, it fresh capital infusion will be utilised in expanding the company's sales and service network while advancing new product development, the statement Motors said it has secured investment amid rapidly scaling operations and strengthening of leadership in the commercial EV company has seen strong adoption across the e-commerce, retail and logistics segments, backed by a growing portfolio, comprising the electric three-wheeler high-HiLoad EV and the recently launched four-wheeler LCV StormEV "We welcome Hero MotoCorp as a strategic investor in Euler Motors. This is a strong vote of confidence both in India's commercial electric mobility future and in Euler Motors' execution and products," Euler Motors founder and CEO Saurav Kumar this fresh capital and strategic backing from new and existing investors, the company is set to accelerate its scale and continue innovating to deliver superior products, he added."As we strengthen and diversify our presence in the 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," said Pawan Munjal , Executive Chairman, Hero in 2018, Euler Motors investors include Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund."...Since our initial investment in 2023, Euler Motors has advanced e-mobility adoption and created better jobs. This aligns closely with our ambition to support India's net-zero emissions target and enables us to drive scalable impact in a sector vital to both economic growth and environmental progress," said Abhinav Sinha, Managing Director and Head of Technology, Telecoms and Sustainable Industrials at British International Investment.
Time of India
19-05-2025
- Automotive
- Time of India
Euler Motors raises Rs 638 crore funding in round led by Hero MotoCorp
Electric commercial vehicle maker Euler Motors has raised Rs 638 crore in Series D funding . The round was led by Hero MotoCorp , marking the two-wheeler giant's entry in the electric three- and four-wheeler space. Existing investor British International Investment (BII), the UK government's development finance arm, also participated in the round. The fresh capital will be deployed to expand the company's nationwide sales and service footprint and ramp up new product development. This brings Euler's total funding to date to about Rs 1,420 crore, with earlier backers including Blume Ventures, ADB Ventures, Athera Partners, and Piramal Alternatives. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cost Of Amusement Park Equipment From Mexico Might Surprise You - See Tips Amusement Park Equipment | search ads Click Here Undo 'At this stage, as we are thinking about our next ten years, we also wanted to bring investors on our cap table with whom we can build relationships to think over the next five to ten years about how we can build the business,' founder Saurav Kumar told ET. Hero MotoCorp's participation in the round comes as traditional auto players seek to diversify beyond the two-wheeler category and tap into India's fast-growing commercial EV segment. Live Events 'As we strengthen and diversify our presence in the 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,' said Pawan Munjal, executive chairman, Hero MotoCorp. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Earlier this year, Hero MotoCorp had announced a plan to invest up to Rs 525 crore in Euler Motors in one or more tranches for a 32.5% stake on a fully diluted basis. The company, which holds a 30.9% stake in electric two-wheeler maker Ather Energy , did not sell any shares in Ather's recent IPO. Founded in 2018 by Kumar, Euler Motors focuses on designing, manufacturing, selling, and servicing commercial electric vehicles . It currently offers electric three-wheelers under the HiLoad brand and recently launched the StormEV, which it claims is India's first four-wheeler light commercial vehicle equipped with Advanced Driver Assistance Systems (ADAS). In January 2025, Euler Motors raised $20 million in debt from responsAbility Investments AG to scale up production, expand its distribution network, and strengthen research and development. Kumar said Euler currently commands around 11% of India's electric three-wheeler cargo market and aims to increase this share to 15% in the coming quarters. The company has a presence in around 40 cities today and plans to expand to 80 cities with this fundraise. According to Tracxn data, Euler clocked Rs 193.6 crore in revenue and posted a net loss of Rs 227 crore in FY24.
Business Standard
13-05-2025
- Automotive
- Business Standard
Hero Motocorp gains after Q4 PAT climbs 6% YoY to Rs 1,081 cr
Hero Motocorp added 2.48% to Rs 4,089.65 after the company's standalone net profit increased 6.39% to Rs 1,080.94 crore on a 4.41% jump in revenue from operations to Rs 9,938.65 crore in Q4 FY25 over Q4 FY24. Profit before tax (PBT) rose 6.88% YoY to Rs 1,442.45 crore during the quarter. Earnings before interest, tax, depreciation & amortization (EBITDA) stood at Rs 1,416 crore in Q4 FY25, registering the growth of 4% YoY. Hero MotoCorp sold 13.81 lakh units of motorcycles and scooters in fourth quarter of FY25, down 0.79% from 13.92 lakh units sold in Q4 FY24. On full year basis, the companys standalone net profit jumped 16.18% to Rs 4,609.95 crore on 8.81% increase in revenue from operations to Rs 40,756.37 crore in FY25 over FY24. The companys growth was led by robust performance in both the EV and global business. Strengthening its foothold in the EV category, the company recorded its highest ever EV sales, marking a nearly 200% increase over FY24. The company continued its upward trajectory, registering a 43% growth year-on-year in its global business. Pawan Munjal, executive chairman of Hero MotoCorp, said, The Pahalgam attack and the recent developments along our borders serve as a powerful reminder of the ongoing threats our nation faces. As we unite to confront terrorism and uphold the values of humanity, we are guided by the strong leadership of our Honble Prime Minister, Shri Narendra Modi. Moments like these highlight the true essence of leadership its not just about running organizations, but about shaping how we respond, how we support, and how we lead with empathy and resolve. As leaders in Indian and global industry, it is our duty to stand with our people, our communities, and above all, with the brave men and women of our Armed Forces who protect us from those who seek to harm our nation. Vikram S Kasbekar, executive director & acting chief executive officer, said, We achieved highest‐ever revenue and profit in the year, reinforcing our position as the market leader for the 24th consecutive year, closing both CY24 and FY25 at the top. Our success during the year was underpinned by robust growth across the premium, scooter, and EV segments, fueled by several new product launches. Export volumes outpaced industry trends, and we further expanded our premium retail footprint across India while entering new global markets. We are observing strong retail traction, especially in our new premium and scooter offerings. Continued consolidation in the core segment, growth in the 125cc category, and the upcoming EV launch position us well for sustained momentum. Vivek Anand, chief financial officer, said, Looking ahead, we remain optimistic about the near‐to‐mid‐term outlook, key macroeconomic indicators, including revised income tax slabs, repo rate cuts, a strengthening rural economy, and a favorable monsoon forecast, are expected to support industry growth. Meanwhile, the companys board recommended a final dividend of Rs 65 per equity share with a face value of Rs 2 per share, subject to members approval at the ensuing 42nd Annual General Meeting (AGM). The company has fixed the record date as July 24, 2025. The payment of dividend / dispatch of dividend warrants will be completed within 30 days of declaration at the ensuing 42nd AGM Hero MotoCorp is the worlds largest manufacturer of motorcycles and scooters, with a global footprint spanning 48 countries across Asia, Africa and Latin America. It has collaborations with Harley-Davidson and Zero Motorcycles and strategic investments in Ather Energy and Euler Motors.
