Electrifying India’s Light Commercial Vehicle Fleets
Electrifying India’s light commercial vehicles represents a USD 7 billion opportunity. The country boasts electric vehicle (EV)-friendly regulations, which in combination with decreasing battery costs are positioning EVs to become India’s preferred last-mile delivery technology.
From there, India will be poised to respond to strong export demand from emerging economies.
Euler Motors is a Delhi-based designer and manufacturer of electric vehicles for last-mile commercial logistics. It leverages proprietary battery cooling technology, optimized vehicle design, integrated vehicle diagnostics, battery management technology, and charging and service station networks to deliver lowest-cost sustainable mobility for its partners. The company has marquee customers including Amazon, Flipkart, BigBasket, and Udaan.
ADB Ventures invested in Euler Motors to accelerate the company’s growth and position the company to expand into other markets in developing Asia. Euler Motors aims to replace 50,000 fossil fuel-powered light commercial vehicles by 2025, avoiding 160,000 tons of CO2.