Electric Vehicle

EV industry in India is in early stages with demand in LCV segment

Telematics Wire in discussion with Saurav Kumar, Founder & CEO, Euler Motors.

Euler Motors is an Indian EV manufacturing firm, specializing in commercial/cargo three-wheelers (e-rickshaws). It was founded in 2017. They target small and medium businesses for cargo delivery and intra-city logistics.

Q. Euler Motors has been consistently securing the 3rd rank PAN India for 3W Cargo Electric Sales over the festive period (October, November, December)! Can you share the strategies or initiatives that have contributed to this performance?

We are happy to secure a position among the top three in the 3W Cargo EV sector. It underscores the trust customers have shown in our vehicle and the collective efforts of everyone at Euler Motors. This is particularly special as we have been able to achieve this feat through just 20+ retail stores and institutional deliveries. As we continue to expand our presence across cities in India, we are confident in sustaining our growth momentum.

This achievement has come on the back of our product, the HiLoad, which enables customers to carry the highest payload in the segment, cover the most distance on a single charge, and is well-supported by charging options and service infrastructure. The growing demand for commercial EVs will further propel our sales in the coming future.

Q. What is your vision for Euler Motors in the next 3-5 years, and how do you plan to achieve it?

In the next 3-5 years, Euler Motors plans to expand further to tier 2 and 3 cities, making electric vehicles more accessible. We’ll use local networks and smart financing, to build trust in commercial EVs. We plan to reach 40 cities through our retail outlets by FY24. 

With advancements in battery and component technologies, coupled with the benefits of economies of scale, we foresee increased adoption of EVs into the light commercial vehicle segment. Positioned to spearhead the push for widespread EV adoption, Euler Motors plans to bring more products, enter new segments, and strengthen the EV ecosystem. 

Q. In the context of the broader electric vehicle ecosystem, how does Euler Motors foresee the future trends and potential challenges, and what steps is the company taking to stay ahead in this rapidly evolving industry?

The EV industry is still in its early stages with significant demand, particularly in the light commercial segment. As an industry, our focus should be on forming partnerships to expedite adoption. These collaborations within the industry can extend to areas such as charging infrastructure, customer support, and accessible financing options, among others. Moreover, there will be an increased reliance on software as we aim to improve the customer experience in terms of vehicle performance, charging status, battery health, and various other services related to vehicle operations. 

Euler Motors integrates cutting-edge battery technology and intelligent fleet management, harnessing the power of telematics and data analytics to revolutionize operational efficiency. To stay ahead of the industry, we have integrated critical software features within our HiLoad EV, setting industry standards, and ensuring seamless compatibility with public charging infrastructure.

As the only company to provide 3 types of charging options, with the 26-kW Fast Charger, we ensure seamless access to charging infrastructure. Additionally, with 200 charging stations and over 500 charging points already operational, we’re driving the charge towards a dynamic and comprehensive charging ecosystem, ensuring uninterrupted mobility for our valued customers.

Q. Are there any new product launches or expansions on the horizon for Euler Motors in response to the growing demand for electric vehicles?

We aim to become one of the dominant players in the commercial EV market; hence we are focussing on this category for now. However, we are not restricting ourselves to any one product. We will talk about our upcoming products at the right time. 

Q. How does Euler Motors stay ahead in terms of innovation and adaptability to meet evolving customer needs?

Innovation without direction is just a development, not progress. We have always thought from the perspective of our customers and developed a product that caters to their unique demands. With the ‘Made in India, for India’ – HiLoad EV, we are already addressing driving needs for a large set of commercial logistics in extreme terrain and climatic conditions. 

Our flagship product, the HiLoad EV, boasts a liquid-cooled 12.96 kWh IP67 Lithium-ion battery pack for enhanced efficiency and reliability that helps regulate stable battery heat as well as reduce the depth of discharge on a daily basis. In addition to the superior battery tech, we also enable our customers with convenient operational features through our proprietary software application, Euler Shepherd, that collects and analyzes data to optimize performance, enhance the driving experience, enables predictive maintenance, and identifies potential issues.

About Saurav Kumar:

Saurav Kumar is Founder and CEO of Euler Motors. He is an alumnus of Delhi College of Engineering. He did his major from Cornell University in Machine Learning,  Computer Vision and Natural Language Processing. He worked with INRIA in  France on Driving Assistance Systems, before launching his venture in India. 

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