Euler Motors, an automotive technology start-up on electric vehicles has
recently announced that it will unveil its 3-wheeler light commercial cargo
vehicles by early next year.
Around 100 prototype e-vehicles of the company are already running on
the capital and deployed also at companies like BigBasket, EcomExpress,
BlueDart, Udaan etc. for their last-mile delivery.
Euler Motors has so far raised USD 2 Million from marquee investors like
Blume Venture, Emergent Ventures and Andrew Lee to set-up the manufacturing
& R&D facility, building indigenous Li-ion battery pack and hire
The R&D team at Euler Motors is focused is building automotive-grade
lithium-ion battery pack that could deliver the range required for intra-city
logistics in all-weather, temperatures and road conditions. The company
currently makes Li-Ion battery pack of 5.76 KWh for its vehicles.
Parallelly, Euler Motors has set up charging and service stations,
combining hardware and software play bringing components like powertrain
control system, battery and thermal management system, telematics and
data-driven approach to fine-tune performance, and improve efficiencies of
last-mile logistics. The company has also installed over 70 electric vehicle
charging stations within Delhi-NCR.
Saurav Kumar, Founder and CEO, Euler Motors said, “Euler Motors is working
towards providing sustainable last-mile transportation by accelerating the
adoption of electric vehicles. We understand the challenges of the
sector, but we believe that our indigenously created battery pack and upcoming
innovation in light commercial vehicle will set industry standard and thereby
helping ecommerce companies, logistics providers and independent fleet owner.”
Arpit Agarwal, member-investment team, Blume
“Alongside being electric, vehicles are increasingly becoming autonomous,
shared and connected. It brings a whole new paradigm in the automotive industry
that incumbents are not fully prepared for. Euler Motors represents a new crop
of auto companies that are born in software first era. Saurav and the team were
able to understand the paradigm of total cost of ownership (TCO) parity ahead
of the market and built a product with a business model that has no parallel in
India. As a result, they have seen demand of their products far exceeding their
production capacity. We have immense faith in their ability to build this
business quickly to a scale that will make them synonymous with commercial
electric vehicles in India”.
The range of the current commercial cargo electric vehicles is 80-100 km,
depending on the load on the vehicles and has a capacity to carry 500 kg
weight. The company performs its research, manufacturing, and assembly
from its two centers in Faridabad, Haryana and Okhla Industrial Area, New