The Tesla of Commercial Vehicles in India Saurav Kumar of Euler Motors aims to be a CV OEM and lead India to zero emission logistics
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Founder and CEO of Euler Motors, Saurav Kumar's passion and dedication for technology and innovation drove him to explore opportunities where technology could be used to solve current challenges. "I had always been keen to explore automotive technology and mobility, and I then founded Euler Motors in 2018, where we wanted to focus on EVs. Today, the company is spearheading a technology shift for electric mobility in India with its innovative solutions and approach", says the 32-year founder.
"Given the concerns of rising fuel costs and alarming pollution concerns, electric mobility is the road to the future. Transition to electric mobility is inevitable, and we at Euler Motors have taken the lead to accelerate the transition," he adds.
Kumar's second entrepreneurial venture is in the business of manufacturing electric commercial vehicles that are used by ecommerce and logistics companies. The EVs are better in performance when compared to ICE/CNG vehicles; have an extensive charging network & charging solutions; and an extensive service network, of 200-plus charging stations in Delhi/NCR, an onboard charger to charge at home or any location, Charge on Wheels - a mobile charging unit and training 200+ technicians in Delhi/NCR.
They also launched Euler HiLoad EV last year. It is India's most powerful 3W commercial vehicle with the best-in-category Payload capacity, battery capacity, Liquid cooled battery & range along with Industry-best Torque, Ground clearance, Disc Brakes, power and projector headlamps.
This gave scale to the EV company. "We are proud to share that HiLoad has been well-received by our customers and the company has orders of 3,500+ EVs from Flipkart, MoEVing, BigBasket and Udaan. To cater to the order line up, we are already investing in expanding its production capacity and retail footprint."
Euler Motors has raised $21.6 million since inception. They recently raised an additional $10 million led by QRG Investments and Holdings in a Series B round and plan to further raise $50 million this year.
"We have started retail outlets in Gurgaon and Delhi and started sales of the vehicle. Over 300+ EVs have already been deployed with various ecommerce and hyperlocal delivery customers, across Delhi/NCR for their first-, last- and mid-mile requirements," he adds.
A four-year old high-tech, automotive EV venture seeking to alleviate pollution and the concerns of rising fuel costs, what innovation goes into growing the business? The conversation circles back to HiLoad. He says, "HiLoad, is a market differentiator. Its battery pack comes with an in-built thermal management system and liquid cooling technology that allows vehicles to withstand ambient temperatures and topographies, for a long-lasting battery life. Further, the vehicle is equipped with advanced telematics and software assistance for fleet tracking, battery monitoring and real time charging, making it one of the most advanced and high-powered EVs in India right now."
"We have focused on building on tech leadership and designing superior products, suited for Indian customers and road conditions. Euler Motors works with a full stack model offering EVs as a service which includes vehicles, charging infrastructure and service & driver training mechanism, perhaps only one of the few young EV OEMs to achieve this."
During the pandemic too, they focussed on a vehicle design for the Indian market with new developments in software and telematics to support social distancing trend and growth in last- mile delivery.
"We operated with a flexible and resilient approach to ensure business continuity and scale- and worked seamlessly to provide convenient and faster deliveries," says Kumar.
"Euler Motors is committed to a full stack ecosystem of e-mobility as a service with our new offerings in charging, and maintenance support, in addition to the product itself."
On his vision for Euler Motors, says Kumar, "Boasting world class EV innovation, we are striving to be the Tesla of commercial vehicles in India. We have a mission to be a valuable EV OEM in the CV space, leading India to zero emission logistics, with our powerful vehicles, charging infrastructure and service network support."
Company: Euler Motors Pvt. Ltd.
Year of inception: 2018
Number of employees: 650