Euler Motors Join Hands With Shriram Transport Finance to Ease EV ownership
Published On Nov 10, 2022 06:23 PM
The partnership aims for low-interest rates and high loan-to-value to e-rickshaw buyers.
Capitalizing on the demand for electric three-wheeler in India. Euler Motors, the maker of popular cargo e-auto HiLoad has decided to make buying its vehicle easier for customers. To offer easier finance options, lower interest, and higher vehicle values, the firm announced joining hands with Shriram Transport Finance Company.
The partnership of the firm targets to expand the offering across India to serve the growing demand for three-wheelers across cities, semi-urban and rural areas. This is particularly vital for Euler Motors targeting to deploy over 20,000 units of HiLoad in the next two years, to achieve this goal, this partnership paves the way to reach wider customers with tailor-made financing options and ease the buying and owning of an e-rickshaw.
Euler Motors is working with several key stakeholders in enabling a robust EV ecosystem in India. The company believes that sustainable and greener last-mile mobility is India’s path toward riding the EV wave. And high performance, powerful, reliable, and affordable electric vehicles are essential to make this transition.
Its electric cargo three-wheeler HiLoad designed and developed in India is an example of a vehicle ideal for Indian operating conditions and duty cycles. Introduced in 2021, the Euler HiLoad EV has been generating a lot of interest among potential buyers, and retail sales have took-off rather well. The Hiload is among the most powerful and high payload e-auto in India right now, offering a powerful 12.5 kW battery, a payload of 688 kg, and a driving range of 150 km, most suitable for daily cargo delivery operations.