Posts tagged Euler Motors
After Ather's Gain, Hero's Electric CV Bet Begins to Scale
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.

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PressGreen Frontier CapitalGreen Frontier Capital, Source: Mint, Euler Motors
Euler Motors plans to double capacity in six months on robust electric CV demand
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.

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PressGreen Frontier CapitalGreen Frontier Capital, Source: Economic Times Manufacturing, Euler Motors
Euler Motors More Than Doubles Revenue to ₹402 Crore in FY26 as E-Commercial Vehicle Sales Grows
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.

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PressGreen Frontier CapitalGreen Frontier Capital, Source: Acko Drive, Euler Motors
Hero MotoCorp-backed Euler Motors Raises ₹437.5 Crore To Scale EV Manufacturing, R&D Growth
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.

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PressGreen Frontier CapitalGreen Frontier Capital, Source: ET Auto, Euler Motors
Euler Motors secures $20 mn in debt funding from responsAbility Investments
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!

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PressGreen Frontier CapitalGreen Frontier Capital, Source: Business Standard, Euler Motors
Euler Motors Launched Storm EV Cargo Vehicles For Intercity & Intracity Transport
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!

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PressGreen Frontier CapitalEuler Motors, Green Frontier Capital, Source: Times of India
Magenta Mobility, Euler Motor extend partnership
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.

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PressGreen Frontier CapitalEuler Motors, Green Frontier Capital, Source: Press Trust of India
To accelerate energy transition, commercial EVs need to deliver value: Euler Motors CEO
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.

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PressGreen Frontier CapitalGreen Frontier Capital, Euler Motors, Source: The Indian Express
Euler Motors raises Rs 120 crore from BII, Blume Ventures and Green Frontier Capital and others in Series-C extension round
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.

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PressGreen Frontier CapitalEuler Motors, Source: Express Mobility, Green Frontier Capital