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GST cut on two-wheelers to ease cost for first-time buyers: Hero MotoCorp chairman Pawan Munjal

Economic Times

Economic Times · 23h ago

GST cut on two-wheelers to ease cost for first-time buyers: Hero MotoCorp chairman Pawan Munjal

Hero MotoCorp chairman Pawan Munjal supports reducing GST on two-wheelers, highlighting it as vital for first-time buyers in rural and semi-urban areas where these vehicles are key to personal mobility. Munjal views the proposed GST cut as a progressive move that can increase affordability and accessibility for many Indians while enhancing employment and contributions to government revenues. Currently, two-wheelers face a 28% GST, with larger engines incurring an additional cess.

Related News

Indian police registers forgery case against Hero MotoCorp, its chairman

Reuters · 1y ago

Indian police registers forgery case against Hero MotoCorp, its chairman

India's Delhi Police has registered a case against Hero MotoCorp and its chairman, Pawan Munjal, on charges of forgery and fraud. The FIR, filed by Brains Logistics, alleges forgery and falsifying account books by Hero, Munjal, and others. This adds to the troubles faced by Hero and Munjal, including a tax investigation and a money-laundering probe by the Enforcement Directorate. Hero MotoCorp has not provided any comment on the matter.

ED attaches properties worth ₹24 cr of Hero MotoCorp CEO Pawan Munjal

Livemint

Livemint · 1y ago

ED attaches properties worth ₹24 cr of Hero MotoCorp CEO Pawan Munjal

The Enforcement Directorate (ED) has attached properties worth ₹24.95 crore belonging to Pawan Munjal, the Chairman and CMD of Hero MotoCorp, in Delhi. The probe was initiated based on a complaint filed by the Directorate of Revenue Intelligence (DRI) alleging illegal transfer of foreign currency out of India. The investigation revealed that Munjal obtained foreign exchange in the name of others and used it for personal expenses abroad, bypassing the legal limits. The total value of seizure and attachment now stands at around ₹50 crore.

Hero MotoCorp to buy additional 3% stake in Ather Energy for up to ₹140 crore

Livemint

Livemint · 1y ago

Hero MotoCorp to buy additional 3% stake in Ather Energy for up to ₹140 crore

Hero MotoCorp has announced its plans to purchase additional shares of Ather Energy, which will increase its stake in the company to 39.7%. Ather Energy is engaged in the manufacturing and selling of electric two-wheelers. The deal will involve Hero MotoCorp buying the additional shares for ₹140 crore. Additionally, Hero MotoCorp has made two key executive appointments, bringing in Vivek Anand as Chief Financial Officer and Rachna Kumar as Chief Human Resources Officer. Both executives bring extensive global experience to their roles.

Hero MotoCorp invests over $60 Mn in EV startup Euler Motors

Entrackr

Entrackr · 5m ago

Hero MotoCorp invests over $60 Mn in EV startup Euler Motors

Hero MotoCorp, a leading motorcycle and scooter manufacturer, has announced a strategic investment of up to Rs 525 crore (approximately $60 million) in Euler Motors, a company focused on electric three wheelers. The move marks Hero MotoCorp’s entry into the electric three-wheeler market. This is its second major EV investment, following a 40% stake in Ather Energy. Entrackr was first to report about the deal last month. The Board of Directors of Hero MotoCorp approved the investment in its meeting held on March 20, 2025. The investment, which will be made in one or more tranches, will provide the company with a 32.5% stake in Euler Motors on a fully diluted basis. The new round has come within a year of $24 million extended Series C round. Hero MotoCorp’s Executive Chairman, Pawan Munjal, described the investment as a bold step toward achieving the company’s vision to "Be the Future of Mobility." He emphasized that the investment highlights the power of collaboration and adaptability in an evolving market while reinforcing Hero MotoCorp’s commitment to accelerated growth through both organic and inorganic expansion. Launched in 2018 by Saurav Kumar, Euler Motors’ flagship model, the HiLoad EV, is claimed to be the most powerful electric cargo three-wheeler, offering a range of 170 kilometers. The Delhi-based firm recently expanded its product lineup with the launch of its first electric commercial four-wheeler. Currently operating in over 30 cities in India, Euler Motors has shown significant growth, reporting a turnover of Rs 172 crore in the financial year 2023-24, a sharp increase from Rs 49 crore in the previous year. Hero MotoCorp’s investment in Euler Motors is expected to provide the company with a strong foothold in the electric three-wheeler market, where EVs are projected to account for a significant portion of total sales in the coming years. In the electric three-wheeler segment, Euler Motors competes with Altigreen, as well as established players like Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

Two-wheeler EV maker Ather Energy expands into Nepal

Economic Times

Economic Times · 1y ago

Two-wheeler EV maker Ather Energy expands into Nepal

Bengaluru-based electric scooter maker Ather Energy, backed by Tiger Global, is expanding its presence into Nepal. Ather recently secured Rs 900 crore in funding from Hero MotoCorp and GIC. The company aims to strengthen its foothold in the electric vehicle market and increase its production capacity. Ather's move comes at a time when the demand for electric two-wheelers is on the rise in India.

Ather Energy's Chief Business Officer Calls for Policy Predictability to Drive Two-Wheeler Electric Mobility

Business Bytes

Business Bytes · 1y ago

Ather Energy's Chief Business Officer Calls for Policy Predictability to Drive Two-Wheeler Electric Mobility

Ravneet S Phokela, Chief Business Officer at Ather Energy, stresses the importance of policy predictability in driving investments for the growth of electric two-wheelers in India. Ather Energy, backed by Hero MotoCorp, aims to achieve 100% electrification of the domestic two-wheeler market by 2030 and emphasizes the need for stable policies and regulatory support for this transition. Investments from established players like Hero MotoCorp and a supportive regulatory environment are crucial for the success of electric mobility in India.

Hero MotoCorp receives ₹17.64 crore GST notice from Delhi GST authority

Livemint

Livemint · 1y ago

Hero MotoCorp receives ₹17.64 crore GST notice from Delhi GST authority

Hero MotoCorp Ltd. has received a demand notice of INR 17.64 crore ($2.36 million) from the government's Department of Trade and Taxes for goods and service tax (GST). The notice is related to the disallowance of input tax credit for the 2019-20 financial year. The company plans to take appropriate action, including filing an appeal. Hero MotoCorp stated that the tax demand is not maintainable in law, as the input tax credit was rightfully claimed based on GST law provisions. The demand notice is not expected to have a material impact on the company's financials or operations.

Hero Group’s Sunil Munjal may join PE firm to bet on IVF hospital

VCCircle

VCCircle · 1y ago

Hero Group’s Sunil Munjal may join PE firm to bet on IVF hospital

Sunil Munjal, Chairman of Hero Enterprise, is expected to team up with a private equity firm to invest in an in-vitro fertilization (IVF) hospital. The family office, known for supporting beauty product companies in the past, sees potential in the fertility and obstetrics treatment sector. This move highlights Munjal's interest in expanding investments beyond Hero Enterprise.

Hero MotoCorp foresees stable double-digit growth in two-wheeler industry revenue

Thehindubusinessline

Thehindubusinessline · 1y ago

Hero MotoCorp foresees stable double-digit growth in two-wheeler industry revenue

The domestic two-wheeler industry is expected to experience a double-digit revenue growth in the next fiscal year, driven by demand for premium models, according to Hero MotoCorp CEO, Niranjan Gupta. The company also anticipates a recovery in the entry-level segment. Gupta highlighted a shift towards premiumization in the domestic two-wheeler space, with buyers seeking feature-rich trims. The company plans to upgrade sales outlets to cater to the growing demand for premium models. Additionally, Hero MotoCorp aims to expand its premium portfolio through its partnership with Harley-Davidson.

Royal Enfield calls for uniform 18% GST on two wheelers under new framework

Economic Times

Economic Times · 2d ago

Royal Enfield calls for uniform 18% GST on two wheelers under new framework

Royal Enfield has urged the Indian government to implement a uniform GST rate of 18% for all two-wheelers, including those with higher engine capacities. Siddhartha Lal, Executive Chairman of Eicher Motors, emphasized that this would help maintain India's leadership in the global motorcycle market, particularly in the mid-sized segment. He argued that a uniform GST rate would enable Indian manufacturers to compete globally, especially as India aims to become a hub for electric two-wheelers and allied industries.

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