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.