Ad
Ad
Ad
Key Highlights:
Euler Motors, an electric commercial vehicle manufacturer, has raised up to USD 20 million in debt funding from responsAbility Investments. The investment firm specializes in private market investments and aims to support impactful ventures.
Purpose of the Funding
The funds will be used to develop next-generation technology for commercial electric vehicles (EVs), improve vehicle efficiency, and enhance the after-sales and service network. The goal is to support the growing adoption of EVs across India.
CEO's Statement
Saurav Kumar, Founder and CEO of Euler Motors, shared that the new funding will help the company scale operations, expand its reach, and continue delivering sustainable, high-performance solutions tailored to India's logistics needs.
Previous Funding and Market Growth
Euler Motors recently closed a USD 200 crore Series C funding round with contributions from British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund. The company is targeting significant growth in India's commercial and logistics sectors.
Company's Progress in the EV Market
Euler Motors entered the electric four-wheeler small commercial vehicle (SCV) market last year with the launch of the StormEV at Rs 8.9 lakh. In 2021, the company introduced its first product, the HiLoad EV, an electric three-wheeler commercial vehicle.
According to the company, the small commercial vehicle market in India is expected to reach Rs 34,900 crore by FY2027, with internal combustion engine vehicles still dominating the market.
About Euler Motors
Euler Motors is working to accelerate the adoption of electric vehicles in India with powerful EVs designed specifically for the country. Their key products include the StormEV LongRange200, which offers an extended range for commercial use, the StormEV T1250, built for high efficiency, and the HiLoad EV, a small electric vehicle ideal for businesses.
The company is also focused on enhancing its servicing, charging infrastructure, and software to make owning an electric vehicle in India a smooth and convenient experience.
Also Read: Greaves Cotton to Showcase Sustainable Mobility Solutions at Bharat Mobility Global Expo 2025
CMV360 Says
Euler Motors is taking strong steps in the EV space. With this new funding, they can expand faster and enhance their technology. Their focus on commercial vehicles is key to reaching a larger market in India. This move will help push electric vehicles into mainstream logistics, benefiting both businesses and the environment.
Bharat Mobility Global Expo 2025: All You Need to Know
Get ready for the Bharat Mobility Global Expo 2025 in Delhi! Explore commercial vehicles, including electric trucks, three-wheelers, and material handling solutions, from...
15-Jan-25 09:15 AM
Read Full NewsTata Motors to Showcase Over 18 Zero-Emission Vehicles at Bharat Mobility Auto Expo 2025
Tata Motors may unveil the production version of its upcoming sub-one-tonne micro-EV truck, internally codenamed ‘Coral.’...
15-Jan-25 06:35 AM
Read Full NewsKinetic Green and Yuma Energy Partner for EV Accessibility
Kinetic Green will provide advanced EV technology, while Yuma Energy will offer reliable and efficient battery-swapping infrastructure....
14-Jan-25 09:54 AM
Read Full NewsMaruti Eeco Celebrates 15 Years of Success in India
The Maruti Eeco is available in 13 variants, catering to different needs, including 5-seater and 7-seater options, cargo models, tour versions, and ambulances. ...
14-Jan-25 08:24 AM
Read Full NewsJCBL South Delivers 100th Trailer to BEML Limited
JCBL South specializes in designing trailers tailored to client specifications while adhering to strict quality standards....
14-Jan-25 06:18 AM
Read Full NewsSwitch Mobility to Unveil IeV8 Truck at Bharat Mobility Global Expo 2025.
The Switch IeV8 is anticipated to be a light commercial truck in the 3.3-tonnage category....
13-Jan-25 10:28 AM
Read Full NewsAd
Ad
Electric Three-Wheeler Maintenance Guide
15-Jan-2025
Benefits Of Buying Tata Ultra E.9 Electric Truck In India
14-Jan-2025
Battery Swapping in Electric Vehicles: A Game-Changer for the EV Industry
13-Jan-2025
Benefits of Buying Tata Intra V50 in India
10-Jan-2025
Benefits of Buying Blue Energy 5528 LNG heavy-duty truck in India
06-Jan-2025
Roadside Assistance Services for Commercial Vehicles
26-Dec-2024
View All articles
Registered Office Address
Delente Technologies Pvt. Ltd.
M3M Cosmopolitan, 12th Cosmopolitan,
Golf Course Ext Rd, Sector 66, Gurugram, Haryana
pincode - 122002
Join CMV360
Receive pricing updates, buying tips & more!
Follow Us
COMMERCIAL VEHICLE BUYING BECOMES EASY AT CMV360
CMV360 - is a leading commercial vehicle marketplace. We helps consumers to Buy, Finance, Insure and Service their commercial vehicles.
We bring great transparency on pricing, information and comparison of tractors, trucks, buses and three wheelers.
Loading ad...
Loading ad...