Can this Delhi-based startup break into the light commercial EV race? – times of India

With EV adoption in full swing, opportunities for older manufacturers and New player in commercial vehicles Sectors are plentiful. In this transitional phase, the need for effective and efficient electric alternatives to commercial vehicle formats of 2, 3 and 4 wheelers needs to be addressed. Whereas Tata Motors Just last week its hugely popular SCV, the Ace pick-up, was launched by startups such as the . Electric version of euler motors It is also bringing in products with industry-leading specifications to dominate the commercial electric three-wheeler space.

Established in 2018, Euler Motors is focused on developing Electric Light Commercial Vehicle (LCV). The company claims that hyload EV The L5 boasts of the most advanced technology in the class in terms of range, battery and payload capacity. Not only this, the startup also announced a customer order book for 3000+ HiLoad EVs from leading e-commerce platforms like BigBasket, Flipkart, Udaan and others.

To validate these claims, TOI Auto spoke to Mr. Saurav Kumar, Founder and CEO, Euler Motors, to understand what makes the HiLoad EV better than the current competition. There are a few differentiating factors between the ‘HiLoad EV and its current competitors. For instance, it is the only ECV three-wheeler with a liquid-cooled battery pack. We offer the largest battery capacity in the segment at 12.4kWh which gives a range of 120kms on a full charge. The HiLoad EV gave a range of 150+kms during ARAI testing. Our Lite ECV is also the only product in this segment to offer fast charging. It supports both DC and AC001 charging so that it can be charged with third-party fast chargers both at home and abroad. And finally, the HiLoad EV has a payload capacity of 688 kg, which is 30-40 per cent higher than the competition. Saurav Kumar said. Other notable upgrades on the HiLoad EV include wider tyres, projector headlamps and 200mm disc brakes.

To support its electric LCVs and customers, the company has already established a network of 100+ charging facilities in Delhi NCR which can charge 200+ vehicles at any point of time. Going forward, the EV maker plans to expand its footprint to 12 new major cities such as Bengaluru, Hyderabad and Chennai by the next financial year. The existing orders from major e-commerce companies will help in the deployment of HiLoad EVs in these cities and work is already underway to set up the Euler charging network.
In all, the company reports that it has raised a total of $21.6 million from several major investors so far. The deliveries of the HiLoad EV began in January 2022 and the company expects revenue of Rs 20 crore by the end of this financial year. They are targeting to achieve a revenue of Rs 300 crore and deliver 8,500 units of HiLoad EV to the buyers by the end of FY 2013. Kumar also shared with TOI Auto that work is underway on a major production facility in Delhi NCR. The facility, once completed, will be capable of producing 35,000 EVs annually.