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Euler Motors

Euler Motors is an automotive OEM focused on transforming transportation in the country with India’s most powerful commercial electric vehicles. Today, Euler Motors stands as the front runner in the commercial EV space, building industry-leading EV technology for India, from India. Founded in 2018, the company has launched an advanced technology 3-wheeler cargo vehicle, the HiLoad EV - India’s most powerful Electric Vehicle in terms of payload carrying capacity, range and battery capacity. The company has been recognized for its technological prowess and innovation on many platforms, with the HiLoad EV winning ‘EV of the Year’ by the Apollo CV Awards.🏆 We work towards building the best commercial EVs and a robust EV ecosystem to encourage faster EV adoption in India. Our product, Euler HiLoad EV, leads the LCV segment with the highest load-carrying capacity of 688 kg and the greatest range of 170 km. The company’s vehicles are being sold across companies like Flipkart, BigBasket, Havells, Udaan, and Magenta, among others. These companies have deployed Euler Motors’ EV across Delhi NCR, Bengaluru, Hyderabad, Chennai, Lucknow, Chandigarh & more to transform and strengthen their first, mid & last-mile operations. Our USPs: Liquid-cooled battery Charging infrastructure: There are more than 300 charging stations across Delhi and Bangalore. The first cargo 3W EV offers DC fast charging and on-road service—Charge on Wheels, Preventive Services.

Growth Trajectory

Euler Motors shows strong growth potential by expanding its product line into the 4-wheeler SCV segment, increasing its charging infrastructure network, and focusing on innovative technologies like ADAS and improved battery performance. Their market expansion signals and product development plans indicate a forward-looking strategy to capture a larger share of the Indian commercial EV market. With a focus on local manufacturing and tailored solutions, Euler Motors is well-positioned to capitalize on the increasing demand for electric mobility in India.

Technical Challenges

Ensuring battery performance in varied conditions.
Expanding the charging infrastructure.
Integrating ADAS and infotainment systems.

Tech Stack

Electric vehicle technologyArcReactor liquid cooling technologyEuler Shepherd fleet management platformADAS (Level-1)Charging infrastructure (Charging Hubs, Fast Charger, Home Charging)GB/T fast chargingCCS2 fast charging

Team Size

Engineering Team
Sales Team
Marketing Team
Service Team

Key Risks

Increased competition from established automotive manufacturers entering the electric commercial vehicle segment.
Potential delays or challenges in scaling up charging infrastructure to support the growing EV fleet.
Fluctuations in raw material costs, particularly for battery components, impacting production costs and pricing.
Dependence on government subsidies and incentives, which could change and affect the company's profitability.
Ensuring consistent battery performance and safety under varied and potentially harsh operating conditions in India.

Opportunities

Leverage their first-mover advantage in the ADAS-equipped electric LCV segment to attract safety-conscious fleet operators.
Expand their charging network and partnerships to become a leading provider of charging solutions for commercial EVs.
Further develop their battery technology (ArcReactor) to offer longer ranges and faster charging capabilities.
Explore partnerships with logistics companies to integrate Euler Motors' EVs into their existing delivery fleets.
Capitalize on the increasing demand for sustainable transportation solutions by offering compelling Total Cost of Ownership (TCO) compared to traditional ICE vehicles.
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