30 Oct 2021
Good news for Three-wheeler business owners!
Euler Motors, New Delhi based startup, launched its first cargo three-wheeler, hiload EV. The price range of this Hiload Electric Three-wheeler is Rs 3.5 lakh (ex-showroom, India). The company claims the HiLoad electric to be the most powerful three-wheeler cargo in India because of its 12.4 kWh, liquid-cooled battery pack, which promises a 151km range in its lightest form on a single charge. It is available in 4 variants which include Euler Hiload EV X XR, efficient in working. It is now open for bookings, and delivery will start from January 15, 2022.
Founder & CEO of Euler Motors, Saurav Kumar, said, "I am extremely proud today, not just because we are launching the first product from Euler Motors but also because this product is set to redefine intra-city logistics in India. HiLoad is a world-class innovation from India, designed for India, with many class-first features. It's ready for the world."
The HiLoad electric three-wheeler Cargo makes 14.6bhp and 88.55Nm of peak torque, making it the most strong electric three-wheeler in the commercial cargo segment. In Addition, the HiLoad Electric is also loaded with a 200mm front disc brake and has a segment-best 21 percent gradeability for better hill-climbing with high loads. The company aims to deliver last-mile deliveries while deploying 250+ vehicles so far. The company has also received orders from BigBasket, Flipkart, Udaan, and other e-commerce, hyperlocal and B2B delivery players for 2,500 units of its HiLoad electric three-wheeler cargo deployed in Delhi-NCR, Bengaluru, Hyderabad and Chennai. It is said that these deliveries will be completed in the next 6-8 months.
The company aims to put 5,000 units on the road by FY23 and plans to expand to new markets like Bangalore, Mumbai, Hyderabad, Pune and Chennai. Since its establishment, the company has raised USD 11.3 million (approximately Rs 84.61 crore) from Bloom Ventures, ADB Ventures, Jetty Ventures, Inventus Capital India, with repeated investments from many investors. Currently, Euler Motors produces 100 units per month from its Delhi and Faridabad plants, aiming to increase this to 1,000 units per month in the coming weeks. Euler Motors also plans to expand to 26 cities by the end of 2023.
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