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Euler Motors Launches E-Cargo Three-Wheeler

Commercial Electric Vehicle producer Euler Motors launched its first cargo three-wheeler, HiLoad EV at Rs 3,49,999 (ex-showroom) on October 27, 2021.

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The Delhi-based Euler, which currently leases its electric cargo three-wheelers to various partners, including e-commerce firms, is also keen to explore multiple segments of zero emission vehicles in the medium to long term. Euler claims that it's HiLoad EV is India’s "most powerful" 3W Cargo vehicle and has a highest payload capacity across the 3W cargo segment in India (including ICE-based commercial vehicles).

Talking about HiLoad, Saurav Kumar, Founder and CEO, Euler Motors said it has a powerful combination of the highest battery power (12.4 kWh) and a certified range of around 151 kilometer on a single charge. The company has bagged an order of 2,500 EVs for intra-city deliveries from BigBasket, Flipkart, Udaan, along with other ECommerce, Hyperlocal and B2B delivery players.  It is aiming to double its sales to 5,000 in the second year of its sales operations.  

“For the first two years, our intention is to getting the product in India itself across multiple geographies in 26 cities. We are starting on 15th January in Delhi NCR, followed by Bangalore, Chennai, etc. Eventually we will be looking at exports to ASEAN markets, Kumar said. 

The HiLoad battery pack comes with an inbuilt thermal management system and liquid cooling technology that allows vehicles to run efficiently on any gradient and withstand ambient temperatures. The IP67 certified battery of the vehicle ensures high-end performance and efficient operations in waterlogging scenarios. It is equipped with advanced telematics and software assistance for fleet tracking, battery monitoring and real-time charging. The HiLoad EV comes with 200 mm front disc brakes. It produces a torque range at 88.55 Nm and 10.96 kW peak power, and also has good ground clearance, better grade ability, more speed and higher acceleration for improved on-road operations.

When asked about its segment diversification plans, Kumar said: “Our focus is to electrify the entire electric commercial vehicle segment. While three-wheeler cargo is our first product. Technology is something that will scale to other form factors. Our four wheeled commercial vehicle will be rolled out by 2023.”

Meanwhile, Euler Motors has raised US$ 12 million (Rs. 80 crore) over the last three years funds from ADB Ventures, Blume Ventures, Inventus Capital India, Jetty Ventures. When asked about its investment plans, Kumar revealed that 30% of the raised amount was deployed towards R&D and manufacturing operations. It is also aiming to close this year with Rs. 50 crore revenue and is looking to clock Rs. 300 crore by 2023. 

Additional Reporting By Avishek Banerjee

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