Euler Motors eyes doubling its revenue to ₹800 crore in FY27

Hero MotoCorp-backed electric commercial vehicle maker Euler Motors is targeting revenue of more than ₹800 crore in the current financial year, nearly double the ₹402 crore it reported in FY26, as the company scales its electric four-wheeler business and expands its retail network.

“Our expectation is to grow 100 per cent. We grew to around ₹400 crore last year from ₹190 crore. This year, we would look to grow 100 per cent further. We want to push it to ₹800 crore plus this year,” Euler Motors Founder and CEO Saurav Kumar told PTI.

PressGreen Frontier CapitalOctober 8, 2026Euler Motors, Source: ET Auto

Euler Motors Opens 15th Delhi NCR Showroom, Expanding National Network to 122 Outlets

Euler Motors has opened its 15th showroom in Delhi NCR, bringing its nationwide network to 122 outlets. The new facility will showcase the company’s expanding portfolio of electric commercial vehicles, including the recently launched Turbo EV 1000 and Storm EV, alongside its three-wheeler offerings. With a 46% market share in Delhi NCR’s four-wheeler electric commercial vehicle segment, Euler Motors continues to strengthen its position in India’s growing electric mobility market.

Karnataka woos investors at Semicon India; Euler Motors among firms in talks

Euler Motors is exploring plans to establish a new manufacturing facility for electric three- and four-wheelers in Karnataka, India. The proposal was discussed with state officials during SEMICON India 2026, with Vijayapura identified as a potential location. The company is also considering customized workforce training programs to support its technical and operational needs as it explores opportunities to expand its manufacturing capabilities.

PressGreen Frontier CapitalSeptember 17, 2026Euler Motors, Green Frontier Capital, Source: The Economic Times

Last 1 Year of e-LCV Sales in India: Penetration Doubles; Euler Shows Standout Growth

A year ago, Euler Motors was selling about 60 electric cargo vehicles a month in India. Now it sells nearly 870, a fourteen-fold increase that has made the Hero MotoCorp-backed startup the clear number two in the country's fast-growing e-LCV market. Euler's rise comes as the whole segment reaches a turning point.

EV penetration in light commercial vehicle registrations more than doubled in twelve months, from 2.88% to 5.91%, and most of that gain came in a steady climb that began in March 2026. Tata Motors still leads with close to half the market. Behind it, though, Euler is pulling ahead of established rivals like Mahindra Last Mile Mobility, whose sales have barely moved. Using a full year of Vahan registration data, EVreporter looks at which manufacturers are turning India's EV momentum into market share, and what the shake-up means for fleet operators.

PressGreen Frontier CapitalSeptember 17, 2026Euler Motors, Source: EV Reporter, Green Frontier Capital

After Ather's Gain, Hero's Electric CV Bet Begins to Scale

Hero MotoCorp's Euler Motors bet is a pattern worth watching. Hero built a six-fold return on its Ather Energy stake, and it's running the same playbook in electric commercial vehicles: back a promising operator early, lend distribution muscle, let network effects compound. Euler's sales grew 87% last year, its footprint expanded from 35 to 112 cities, and Hero's ₹720 crore makes it the largest shareholder at a 34% stake. Revenue more than doubled to ₹433 crore, even as losses widened, the usual shape of scaling here.

We're drawn to what this signals about last-mile electric mobility. Unlike consumer EVs, these vehicles run predictable routes for livelihood reasons, not sentiment, making adoption more durable through cycles. Strategic capital from an incumbent with distribution reach, rather than pure financial investors, looks like the right structure here. It's a model worth tracking as more corporates back category leaders early rather than build in-house.

PressGreen Frontier CapitalAugust 21, 2026Green Frontier Capital, Source: Mint, Euler Motors

Euler Motors plans to double capacity in six months on robust electric CV demand

We're watching Euler Motors' expansion plans with interest as a signal of real strength in India's electric commercial vehicle market. The company is on track to nearly double production — from 1,000–1,200 vehicles a month to close to 2,000 — within five to six months, scaling through modular line additions rather than one large capex push. What stands out to us is that demand held firm through April–June, typically a slow quarter for commercial vehicles. Backed early by Hero MotoCorp and having raised roughly ₹1,900 crore to date, Euler sold 7,576 units in FY26, up 81% year-on-year. We're also encouraged by its in-house electronics strategy, 90–95% controlled internally, which reduces supply chain risk, and its focus on localizing battery cells and motor technology as the next frontier for India's EV ecosystem.

Euler Motors More Than Doubles Revenue to ₹402 Crore in FY26 as E-Commercial Vehicle Sales Grows

Euler Motors, a Delhi-based electric commercial vehicle maker, more than doubled its FY26 revenue to ₹402 crore as deliveries jumped 181% to 7,576 units. Quarterly revenue grew an average of 43% and volumes rose 38%. CEO Saurav Kumar framed the year as a shift "from early adoption to early scale," with EBITDA margins improving even as absolute losses grew alongside investment. The company is absorbing part of a cost squeeze itself while passing some increases to customers, and remains excluded from the government's automotive PLI scheme due to unmet eligibility thresholds — a disadvantage versus larger OEMs. Total expenses rose to ₹741 crore (from ₹464 crore), with staff costs up 40% to ₹104 crore. Founded in 2018, Euler has raised over $200 million to date.

Euler Motors Secures ₹437.5 Crore Funding for EV Expansion With Hero MotoCorp's Backing

Light electric commercial vehicle startup Euler Motors has raised ₹687.5 crore in its Series E funding round to drive its manufacturing plant expansion, along with R&D for its new products and network expansion.

PressGreen Frontier CapitalMarch 26, 2026Green Frontier Capital, Source: ET Auto, Euler Motors

Hero MotoCorp-backed Euler Motors Raises ₹437.5 Crore To Scale EV Manufacturing, R&D Growth

We're tracking Euler Motors' latest raise as another strong data point for India's electric CV sector. The company has closed ₹687.5 crore in Series E funding — ₹437.5 crore in equity led by Lightrock, with Hero MotoCorp and Blume Ventures participating, plus ₹250 crore in debt from BlackSoil, Trifecta, InnoVen and Alteria Capital. Founder Saurav Kumar says the capital goes toward network expansion, product R&D, and manufacturing capacity, including a third production line at the Palwal plant that will add 1,000 units of monthly capacity. What stands out to us is the growth trajectory: Euler is targeting 100% growth over FY25 revenue of ₹191 crore, and Hero MotoCorp's 34.1% stake signals real strategic conviction, not just capital. With ₹1,900 crore raised to date, Euler looks well-positioned in its push to become a top-three e-CV player by 2030.

PressGreen Frontier CapitalMarch 26, 2026Green Frontier Capital, Source: ET Auto, Euler Motors

Euler Motors secures $20 mn in debt funding from responsAbility Investments

We are excited to announce that Euler Motors, one of our portfolio companies and a leader in the commercial electric vehicle (EV) segment, has successfully secured $20 million in debt funding from responsAbility Investments, a globally renowned impact investment firm.

This funding will enable Euler Motors to scale its operations, enhance manufacturing capacity, and accelerate the adoption of sustainable mobility solutions in India. The investment underscores responsAbility’s commitment to supporting innovative businesses driving environmental and social impact.

Euler Motors continues to demonstrate strong market leadership with its cutting-edge EV technology, robust performance, and commitment to decarbonizing last-mile logistics. This milestone brings the company closer to its vision of creating a cleaner and more sustainable future for transportation.

Congratulations to the team at Euler Motors for this significant achievement!

Euler Motors Launched Storm EV Cargo Vehicles For Intercity & Intracity Transport

Thrilled to see our portfolio company, Euler Motors, launch the all-new STORM EV! Under the leadership of Saurav Kumar, this innovative 4-wheeler cargo vehicle is set to redefine the logistics industry with its cutting-edge features and exceptional performance. We believe the STORM EV will empower businesses to enhance efficiency and drive profitability. Congratulations to the Euler team on this exciting milestone!

PressGreen Frontier CapitalSeptember 26, 2024Euler Motors, Green Frontier Capital, Source: Times of India

Magenta Mobility, Euler Motor extend partnership

The Press Trust of India reports: MUMBAI – Electric mobility firm Magenta Mobility and commercial electric vehicles maker Euler Motor on Thursday said they were extending their four-year-old partnership, under which Magenta will procure an additional 2,000 cargo e-three-wheeler HiLoad of the latter. This comes on the back of deliveries of 500 such vehicles to Magenta, as per a statement. The Electric Vehicles (EVs) for the new order will be manufactured at Euler Motors' Palwal manufacturing hub and are expected to be delivered in the next 18 months, it said.

To accelerate energy transition, commercial EVs need to deliver value: Euler Motors CEO

Aggam Walia reports for The Indian Express: In an interview with Aggam Walia, Kumar, who is also CEO at Euler, Mr. Humar spoke about the company's journey thus far, the scope for alternative fuels for cargo-carrying vehicles, technologies to improve electric vehicles (EV’s) battery longevity, and expectations from the government’s FAME subsidy.

Euler Motors raises Rs 120 crore from BII, Blume Ventures and Green Frontier Capital and others in Series-C extension round

Euler Motors, an electric three-wheeler company has successfully raised Rs 120 crore in its ongoing series-C extension round. The round sees a commitment from British International Investment (BII), the UK Government’s development finance institution and impact investor.

PressGreen Frontier CapitalNovember 16, 2023Euler Motors, Source: Express Mobility, Green Frontier Capital

Commercial EV-maker Euler Motors raises Rs 120 cr in funding round

Euler Motors, a commercial electric vehicle manufacturer, has successfully raised Rs 120 crore in its ongoing series-C extension round. The total investment now stands at Rs 690 crore, supporting Euler Motors' pan-India expansion plans to enter 40 cities by FY 2023-24.

PressGreen Frontier CapitalNovember 16, 2023Green Frontier Capital, Euler Motors, Source: Business Standard

Euler Motors Foray Into Dealership Channel Strategy; Opens Dealership In Chennai

Euler Motors, an electric commercial vehicle manufacturing startup, has opened its first-ever dealership store in Chennai, Tamil NaduIndia.

PressGreen Frontier CapitalNovember 10, 2023Euler Motors, Source: BW Autoworld

Saurav Kumar: The Visionary Behind Euler Motors - Exclusive Interview

Join us for an electrifying conversation with Saurav Kumar, the visionary Founder & CEO of Euler Motors.

PressGreen Frontier CapitalNovember 10, 2023Euler Motors, Green Frontier Capital, Source: Motorindia

Euler Motors collaborates with SIDBI for EV financing

Euler Motors has announced a collaboration with the Small Industries Development Bank of India (SIDBI) for the visionary “Mission 50K-EV4ECO” program, aimed at catalysing the entire EV value chain.

PressGreen Frontier CapitalNovember 10, 2023Euler Motors, Source: Express Mobility

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