Euler Motors

The vehicle offered a certified range of over 150 km and a payload capacity of 768 kg, a metric that directly addressed the operational needs of last-mile logistics players.

Euler HiLoad EV comes with a comprehensive charging network to keep your business moving without interruption

Blinkit (then Grofers) emerged as its first customer, followed by BigBasket, Flipkart and Udaan.

By 2022, Euler had secured approximately 2,500 vehicles from large ecommerce and logistics companies.

Euler introduced an industry-first five-year battery warranty on its electric vehicles, aimed at reducing prospective fleet buyers' hesitation about total cost of ownership.

Euler operates separate toll-free lines for service complaints and new-vehicle enquiries, plus a customer-care email address, staffed Monday to Saturday.

The Euler Motors website offers an interactive TCO calculator letting prospective fleet buyers compare Euler EVs against diesel, petrol, and CNG alternatives across different ownership periods and daily usage levels.

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By 2022, Euler had secured approximately 2,500 vehicles from large ecommerce and logistics companies.

Euler designs and manufactures electric commercial cargo vehicles, beginning with the three-wheeler HiLoad EV and expanding into four-wheelers with the Storm EV range from 2024.

Euler built core technological capability internally rather than outsourcing, setting up in-house R&D spanning battery systems, mechanical engineering, and electronics.

Euler built and operates its own charging network, starting with over 200 points across Delhi NCR after the HiLoad EV launch and expanding its presence to 50+ cities by 2025.

Before manufacturing at scale, Euler ran an eight-month pilot deploying modified electric three-wheelers within logistics networks to gather real-world data on route density, battery degradation, charging infrastructure, and operating economics.

Rather than sourcing from third parties, Euler developed its own liquid-cooled battery systems in-house, treating the battery as the most critical component for vehicle performance and margins.

Euler Motors' corporate website cites a portfolio of over 50 patents filed, reflecting its in-house engineering and R&D investment.

Euler's official website cites a core team of 100+ members supporting its engineering, manufacturing, and commercial operations.

Euler Motors' registered head office is listed at Mohan Cooperative Industrial Estate, Badarpur, New Delhi, as shown on the company's official website.

A key validation of its strategy came in the form of a ₹538 Cr investment from Hero MotoCorp — this Inc42-reported figure appears to be Hero's own check size within the ₹638 Cr Series D round (round id 1959, announced May 2025) that also included British International Investment. A related Inc42 report separately cites Hero's earlier board-approved stake purchase at ₹525 Cr (see signal id 679); the Hero-specific figure is reported variously as ₹525-538 Cr, both distinct from the ₹638 Cr syndicate total.

Euler operates with eight major charging network partners including Delta Electronics, Exicom, GoEgo, Kazam, Mindra, Quench, Readgrid, and Tata Power EZ.

it sold around 3,305 electric vehicles in FY25, generating Rs 173 crore from vehicle sales, while battery, accessories, and other operating income contributed an additional Rs 12 crore

Material costs are Euler's single largest expense line, making up nearly half of total expenditure in FY25 (year ended March 2025).

Employee benefit expenses grew sharply year-on-year in FY25, the second-largest cost line after materials.

Costs for security and manpower services rose sharply in FY25, reflecting expanded operations.

Euler's FY25 finance costs and depreciation & amortization expenses together added to its cost base.

A broad basket of overheads — including rent, R&D, travel, professional fees, transportation, repair and maintenance, and software — made up a significant share of FY25 spending.