11 Feb 2022
Euler Motors and TWU (Three Wheelers United) are coming together to promote the adoption of three-wheelers by deploying 1000 electric three-wheelers in India.
Delhi-based startup electric vehicle maker Euler Motors and Bengaluru-based Electric Vehicle (EV) financier Three Wheels United (TWU) announced their partnership. Under this partnership, the companies will jointly deploy over 1,000 electric 3-wheelers across Delhi NCR, Bengaluru, Chennai and Hyderabad by the end of the financial year 2022-23.
Three Wheels United aims to address the issue of the high cost of finance for electric vehicle drivers, which is a significant barrier to optimising electric mobility to help them switch to EVs. Mainly, the company focuses on providing loans to cover up to 100% of the asset cost.
Saurav Kumar, Founder & CEO of Euler Motors, said, “This partnership will help us rapidly deploy our customer order book of 3500 HiLoads with essential financial solutions. Euler Motors will continue to prioritise partnerships with other players in the ecosystem that are accelerating the adoption of electric commercial EVs in India.”
Three Wheels United & Euler Motors will work together to promote the adoption of electric cargo three-wheeler Euler Hiload EV. TWU will offer important financing solutions for cargo vehicle drivers to switch to EV three-wheelers. And the Euler company will help them access charging infrastructure, maintenance, and service.
Three Wheels United has more than 50,000 drivers on its platform, and the company has financed around 4,000 electric auto-rickshaws so far. Euler Motors is an electric vehicle company founded in 2018, working in the commercial vehicle segment that deploys technology solutions for EVs.
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