Product slated for launch in upcoming festive season
Euler Motors, leading home-grown commercial EV manufacturer, has announced its entry into the small commercial vehicle (SCV) segment, with its first 4-wheeler that will offer 1000+ kgs payload. Planned for launch in the upcoming festive season. Euler Motors’ new SCV will be designed to meet the growing demand for cost-effective, and high-performance inter-and intra-city transportation solutions.
“Commercial electric vehicles must cater to the needs of various industries, accommodating diverse volumes, payloads, and ranges. Our vision is to develop vehicles that seamlessly integrate into all industry verticals. ,” said Saurav Kumar, Founder & CEO of Euler Motors. “Our study of retail and institutional customers in the SCV segment reveals that a significant number are eager to switch to or purchase EVs that deliver high performance, extended range, and advanced features to elevate the driving experience and optimize fleet management. This new 4W vehicle is a milestone, as it will meet all these criteria, making it the perfect, trustworthy companion for both long and short cargo transportation journeys,” he added.
Following the success of its 3-wheeler flagship, the HiLoad EV, which offered several industry-first features, the new 4-wheeler will also have market-defining attributes to give unmatched performance. The vehicle will offer a long driving range, high payload capacity, thoughtful design ergonomics to enhance the driving experience, and enhanced real-time fleet management – all critical in the segment that largely caters to industries such as logistics, FMCG, beverages, dairy, paint, lubricants, etc.
Estimated to achieve a market value of INR 34,900 crore in India by FY2027, the SCV segment is currently dominated by ICE vehicles. While EVs may comprise a smaller share, they are poised to grow the fastest. With EVs, customers can expect significant cost savings and achieve price parity with traditional fuel vehicles, making them a compelling choice for businesses aiming to improve their operational efficiency and sustainability. With an eye to help customers achieve not only greater efficiencies and business ROI, but these vehicles will also align with the climate change commitments by the Government of India.
Euler Motors’ expansion into the SCV segment, highlighted by several industry-first features, aligns with its mission to accelerate the adoption of electric vehicles, and to promote sustainable urban mobility – through innovation designed for and from India.