Euler Motors to deploy 1000 units of Hi Load E-rickshaw in partnership with LetsTransport
Published On Jun 14, 2022
The electric vehicle start-up continues to forge new partnerships with last-mile delivery players to boost the electrification of the fleet in India.
Eyeing the massive potential to bring much-needed change across India’s last-mile delivery fleet with greener and sustainable electric vehicles, Euler Motors- the makers of e-rickshaws- is expanding rapidly by partnering with new-age fleet and corporate customers.
Euler Motors is offering its modern, feature-rich e-cargo three-wheeler HiLoad as a strong alternative to the IC engine three-wheeler. The powerful Hi Load is a greener vehicle that also offers compelling operational benefits with significant savings on running costs and supply chain efficiencies to the end customers.
Further deepening its ties with new customers, Euler Motors joined hands with logistics player LetsTransport to deploy 1,000 units HiLoad in the cargo carrier segment across key urban centres including Bangalore, Hyderabad, and Delhi among others over the next 12 months.
Aggressive Growth Plan
Euler Motors has commenced the retail deliveries of its Hi Load e-cargo three-wheeler in January 2022 and plans to close the current financial year with revenue of INR 20 crores. Some of the current customers for Euler Motors include Flipkart, BigBasket, Udaan and MoEVing. So far, the company has raised USD 21.6 million till date. For this year, the company plans to develop state-of-the-art manufacturing in Delhi-NCR and have seamless operations. The company recently announces an ₹ 200 crores towards Capex and increase production to 35000 units annually.
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