Delhi-based automotive technology start-up, Euler Motors, has recently announced that the company is planning to launch three-wheeler light commercial cargo vehicles by the first quarter of the year 2020. Major companies which are currently using its prototype Electric Vehicles (EVs) for last-mile delivery in across the Delhi-NCR region include EcomExpress, BigBasket, Udaan and Blue Dart, among others.
Founded in 2018, Euler Motors has raised over $2 million in pre-series A funding from Blume Venture, Emergent Ventures and Andrew Lee for setting up its manufacturing plant and R&D facility. The R&D unit of Euler Motors is focused on building an automotive-grade lithium-ion battery that could deliver enough range for intra-city logistics for all weather and road conditions. The range of the current commercial cargo electric vehicles is 80-100 kms, depending on the load on the vehicles, and has a total capacity of 500 kgs weight.
Presently, the company manufactures Li-ion batteries of 5.76 KWH for its electric vehicles. Moreover, the company has set up more than 70 EV charging stations across Delhi-NCR. Euler’s charging and service stations combine hardware and software play, bringing components like powertrain control system, battery and thermal management system, telematics and data-driven approach to fine-tune performance and improve efficiencies in last-mile logistics.
Speaking on the development, Mr Arpit Agarwal from Blume Ventures said that the current transportation system is not fully prepared for EVs that are increasingly becoming autonomous, shared and connected. Further, he praised Mr Saurav Kumar, Founder of Euler Motors, for being able to gauge the paradigm shift in the industry and thereby coming up with a product that is one-of-its-kind in India today.
About Euler Motors
Founded by Mr Saurav Kumar in 2018, Euler Motors is an automotive start-up focused on sustainable last-mile connectivity in order to accelerate the transition of the Indian transport ecosystem from ICEs to EVs. Prior to his current venture, Kumar had co-founded Cube26 Software Pvt. Ltd. (acquired by Paytm now). The company looks ahead to increase the adoption of light electric commercial vehicles (LECVs) by offering the entire electric mobility as a service to the customers.
Euler Motors currently operates from its Faridabad and New Delhi offices.