Auto recap, March 21: Mahindra to hike prices, Hero acquires stake in Euler Motors

The automotive sector operates at a rapid pace, making it challenging to stay informed. However, HT Auto is committed to providing timely updates on significant developments within the industry. Below is a summary of the key highlights from Friday, March 21.

Royal Enfield Classic 650 launch date revealed

Royal Enfield Classic 650 is all set to launch on 27th March. The motorcycle was introduced in 2024 and presented at Motoverse 2024. This model will expand the brand's range of 650 cc motorcycles, which includes the Shotgun 650, Interceptor 650, Continental GT 650, Super Meteor 650, and Interceptor Bear 650.

Positioned as the flagship model of the Classic series, the Royal Enfield Classic 650 Twin is constructed on the Shotgun platform. It reflects the design and essence of its 350 cc sibling, which is the brand's best-selling motorcycle. Furthermore, the 650 platform has gained traction in developed markets, including Europe, the UK, and North America, and has recently seen a notable increase in interest from buyers in the Indian market.

Hero MotoCorp acquires stake in Euler motors

Hero MotoCorp, recognized as the largest two-wheeler manufacturer globally by volume, has disclosed in a regulatory announcement that it has secured a 32.5 percent ownership in Euler Motors, a producer of electric three-wheelers. The company has invested ₹525 crore in Euler Motors on a fully diluted basis, executed in one or more phases. This acquisition marks Hero's second significant investment in an Indian electric vehicle company, following its substantial stake in Ather Energy, based in Bengaluru.

This strategic move signifies Hero MotoCorp's entry into the electric three-wheeler market. Euler Motors specializes in electric commercial vehicles and currently operates in more than 30 cities throughout India. The company began its journey in 2015 with electric three-wheelers and has recently launched its first electric four-wheeler designed for commercial use.

Mahindra to hike prices

Mahindra & Mahindra has declared that it will raise prices for its SUV and commercial vehicle lineup starting in April 2025. The price hike will be up to three percent. The company has cited escalating input costs and rising commodity prices, among other factors, as the reasons for this increase. Additionally, Mahindra noted that the magnitude of the price adjustment will differ across various models and variants of SUVs and commercial vehicles.

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