Euler Motors
- Company typePrivate
- Founded2018
- HeadquartersNew Delhi, India
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
Euler Motors firmographics
Firmographics- Name
- Euler Motors
- Legal name
- Euler Motors Private Limited
- Website
- https://eulermotors.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
Euler Motors industry classification
Industry- Product category
- Electric Commercial Vehicles
- NAICS
- Motor Vehicle Manufacturing (3361), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632)
- SIC
- Miscellaneous Transportation Equipment (3790), Truck & Bus Bodies (3713)
- akta.pro primary industry
- Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK)
- akta.pro secondary industry
- Automotive ECUs/Control Modules & Embedded Electronics Manufacturing (IMACAJAC)
Keywords
Where Euler Motors is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices3 records
Markets served
Euler Motors business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Electric Commercial Vehicle Sales: Euler Motors generates revenue primarily from the sale of electric commercial vehicles, including three-wheelers (HiLoad EV) and four-wheelers (Turbo EV 1000, Storm EV LongRange 200, Storm EV T1500). Revenue grew 110% year-on-year to Rs 402 crore in FY26, driven by 181% surge in vehicle sales to 7,576 units. The company remains loss-making with net loss of Rs 308 crore in FY26, though EBITDA margins improved by 56 percentage points. The company targets break-even within 2-3 years at revenue scale of approximately Rs 2,000-2,500 crore.
- EV Financing Partnerships: Euler Motors generates derivative revenue through financing partnerships (e.g., Annapurna Finance, 15+ financing partners) that facilitate customer purchases. While financing revenue flows primarily to lending partners, these partnerships expand addressable market and accelerate sales volume, indirectly contributing to hardware revenue growth.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Turbo EV 1000 FC/Maxx/City variants |
| Unit Pricing | Pay-as-you-go | HiLoad EV XR/TR variants |
| Unit Pricing | Pay-as-you-go | Storm EV LongRange 200 |
| Unit Pricing | Pay-as-you-go | Storm EV T1500 |
| One time/ perpetual license | Pay-as-you-go | Online Booking Fee |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
Euler Motors product offering
Product offeringCore offering
Euler Motors designs, manufactures, and sells electric commercial vehicles including electric three-wheelers (HiLoad EV) and electric four-wheelers (Turbo EV 1000, Storm EV LongRange 200, Storm EV T1500) for cargo and last-mile logistics operations across India. The company sells directly through company-owned showrooms and a network of independent dealers across 85+ cities, supported by 15+ financing partners and its proprietary Shepherd connected fleet management platform.
Differentiator
Problem solved
Functional benefit
Brands
- Neo: Sub-brand for passenger mobility solutions under Euler Motors, operating at neo.eulermotors.com
Products and services
- HiLoad EV Electric three-wheeler cargo vehicle with 110+ km RealRange, 768 kg payload capacity, 55 km/h top speed, and 300 mm ground clearance. Starting price Rs 4.56 lakh ex-showroom with EMI options starting at Rs 10,357/month. Targeted at small business delivery, local commerce, and last-mile logistics operators.
- Storm EV LongRange 200 Electric four-wheeler cargo LCV with 200+ km RealRange, 1,500 kg payload capacity, 330 cu. ft. container volume, and India's first ADAS Level 1 for commercial EVs. EMI starting at approximately Rs 31,663/month. Designed for fleet electrification and intracity cargo operations.
- Storm EV T1500 Electric four-wheeler goods carrier LCV with 140+ km range, 1,500 kg payload capacity, 70 km/h top speed, three driving modes (Range/Thunder/Rhino), and ADAS Level 1. EMI starting at approximately Rs 22,032/month. Targeted at commercial cargo operations requiring higher speeds and versatile driving modes.
- Turbo EV 1000 World's first 1-tonne electric truck in India with ARAI-certified 200 km real range, CCS fast charging (50 km in 15 minutes), 8.3 ft load body, and IP67-rated battery and electronics. Starting price Rs 5.99 lakh ex-showroom with EMI from Rs 13,605/month. Available in FC, Maxx, and City variants for varied intra-city logistics applications.
Quantifiable outcome
- Annual operating savings of up to Rs 1.15 lakh per vehicle compared to diesel equivalents, with running costs of approximately Rs 1/km
- +3 more outcomes
Companies that use Euler Motors
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Euler Motors technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability5 records
Feature10 records
Euler Motors partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered major.
- Annapurna FinancemajorEuler Motors partnered with Annapurna Finance to expand financing options for electric commercial vehicles across India, targeting small businesses, fleet operators, and rural users with limited access to formal credit. The partnership adds Annapurna Finance to Euler Motors' network of over 15 financing partners and offers customised loans for both three-wheelers and four-wheelers. The collaboration aims to accelerate EV adoption, support financial inclusion, and contribute to India's clean mobility goals.
- Jio-bp (Reliance BP Mobility Limited)majorEuler Motors and Jio-bp signed an MoU to collaborate on expanding EV charging infrastructure across high-demand logistics hubs in India. The partnership leverages Jio-bp's network of nearly 7,000 charge points across more than 1,000 locations, including India's first 480 kW charger with liquid-cooled guns. The collaboration aims to accelerate adoption of electric commercial vehicles, improve charging accessibility for fleet operators, and support India's clean mobility goals. Jio-bp aims to install around 100,000 charging stations over the next 10-12 years.
Scale indicators17 records
Recent moves9 records
Expansion highlights6 records
Euler Motors competitors and assessment
Company assessmentDirect peers
- Greaves Cotton (Ampere): Diversified Indian conglomerate Greaves Cotton's EV subsidiary manufacturing electric 2W and 3W vehicles including cargo 3Ws; competes with Euler's HiLoad EV in last-mile and SMB delivery segments.
- Mahindra Last Mile Mobility: Mahindra's last-mile EV subsidiary (Treo, e-Alfa, Zor Grand) directly competes with Euler in India's electric 3W and small 4W cargo commercial vehicle segment, targeting fleet operators and SMB buyers.
- Altigreen Propulsion: Bangalore-based electric cargo 3W and 4W LCV OEM with a focus on last-mile delivery fleets; competes head-to-head with Euler's HiLoad EV and Storm EV models across Indian cities.
- Piaggio Vehicles (Ape Electrik): India arm of Italy's Piaggio, manufacturer of the Ape E-City and Ape Electrik family of electric 3W cargo and passenger vehicles; one of Euler's closest direct rivals in the e-3W cargo space.
- Switch Mobility (Ashok Leyland): EV arm of Ashok Leyland manufacturing electric buses and small commercial vehicles (Iveave); competes with Euler in the 4W electric LCV cargo segment with deeper OEM resources and PLI access.
Broad incumbents
- Tata Motors (Ace EV): India's largest commercial vehicle OEM selling the Ace EV mini-truck as well as broader LCV and bus EVs; competes with Euler across e-3W and e-4W cargo via an established dealer network and PLI benefits.
- Euler Motors (Bajaj Auto – direct EV rival): Bajaj Auto, India's largest 3W manufacturer, has launched the Bajaj RE electric 3W (and is investing in its own EV platforms) – a major incumbent competitor with unmatched 3W scale, dealer network, and brand equity.
Emerging players
- Kinetic Green: Indian EV manufacturer of electric 2W, 3W, and 4W (including the Safar Smart and Zing) for passenger and cargo segments; an emerging challenger in the same SMB and rural commercial EV segments Euler serves.
- Ather Energy: Bengaluru-based EV 2W OEM and Hero MotoCorp portfolio company building out charging infrastructure (LEAF consortium); adjacent rather than direct, but shares strategic/intuitional overlap with Euler via common investor Hero.
- Omega Seiki Mobility: Indian EV maker producing electric 3W (Rage+ and others) and small LCVs for last-mile cargo; competes with Euler in cost-sensitive 3W cargo segments and emerging 4W EV cargo.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Euler Motors social profiles
Digital presenceEuler Motors financial estimates
Financial estimateRevenue estimate
Valuation estimate
Euler Motors leadership team
Management profileNumber of profiles
Profiles3 records
Euler Motors funding detail
Funding detailFunding overview
Funding rounds14 records
Investors22 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Euler Motors M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Euler Motors
What does Euler Motors do?
Euler Motors designs, manufactures, and sells electric commercial vehicles including electric three-wheelers (HiLoad EV) and electric four-wheelers (Turbo EV 1000, Storm EV LongRange 200, Storm EV T1500) for cargo and last-mile logistics operations across India. The company sells directly through company-owned showrooms and a network of independent dealers across 85+ cities, supported by 15+ financing partners and its proprietary Shepherd connected fleet management platform.
Is Euler Motors a public or private company?
Euler Motors is a private company. It is classified as venture growth investor backed and is currently operating.
When was Euler Motors founded?
Euler Motors was founded in 2018. It employs 101 to 250 people.
Where is Euler Motors based?
Euler Motors is headquartered in New Delhi, India, in the Asia region.
How does Euler Motors make money?
Two revenue lines are on record. Electric Commercial Vehicle Sales are the primary driver. The others are EV Financing Partnerships.
Who are Euler Motors's main competitors?
Direct peers on record are Greaves Cotton (Ampere), Mahindra Last Mile Mobility, Altigreen Propulsion, Piaggio Vehicles (Ape Electrik) and Switch Mobility (Ashok Leyland). Broad incumbents are Tata Motors (Ace EV) and Euler Motors (Bajaj Auto – direct EV rival). Emerging players are Kinetic Green, Ather Energy and Omega Seiki Mobility.
Does Euler Motors have an API?
No public API is recorded for Euler Motors.
What industry is Euler Motors in?
Euler Motors's product category is Electric Commercial Vehicles. Its primary akta.pro industry code is IMACABAK, Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells), with a secondary code of IMACAJAC, Automotive ECUs/Control Modules & Embedded Electronics Manufacturing. Its NAICS code is 3361 and its SIC code is 3790.