Hulas Motors

What Hulas Motors does

Hulas Motors Pvt. Ltd is a Nepal-based electric vehicle manufacturer headquartered in Biratnagar, operating as the country's first automobile manufacturer since 1996. The company designs and produces a portfolio of locally manufactured electric vehicles under the Hulas Vidyut brand, including the da vinci electric passenger car, e-rickshaws in City (4+1) and Nano (2+1) configurations, and three cargo vehicle variants (Big Cargo, Small Cargo, Hood Cargo) with payloads from 400 kg to 1500 kg. Core technology centers on BLDC motors (1000W-1500W, 48V-60V systems), proprietary Hulas Battery technology offered in 90/120/180 Ah configurations with claimed 30% efficiency gains, and full vehicle integration.

The business operates three revenue streams: one-time sales of vehicles (e-rickshaws, cargo vehicles, da vinci), proprietary battery sales (2000+ units in fiscal year 73/74), and aftermarket spare parts and service. Distribution is built around an authorized dealer network spanning at least eight Nepalese cities, company-owned showrooms and workshops in Biratnagar and Birtamod, and 24/7 mobile service units. Customer segments split across commercial fleet operators, individual consumers, and e-rickshaw passenger operators, with pricing not publicly disclosed. Pricing is opaque and not publicly disclosed.

The company is privately held with no disclosed external funding, 11-50 employees, and a single-country (Nepal) operating footprint concentrated in the Eastern Region. The strategic identity shifted in 2017 from legacy ICE products (Mustang, Sherpa) to green electric manufacturing, and current product expansion (notably da vinci and the cargo range) signals intent to capture both personal urban mobility and commercial logistics segments within Nepal's domestic EV market.

Name

Hulas Motors

Legal name

Hulas Motors Pvt. Ltd

Website

https://hulasmotors.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Hulas Motors is a Nepal-based electric vehicle manufacturer (founded 1996) producing locally made e-rickshaws, cargo vehicles, and the da vinci electric car for commercial fleet operators, individual consumers, and passenger transport operators across Nepal.

Ownership category

akta.pro rank

Product category

Electric Vehicles

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632), Motor Vehicle Parts Manufacturing (3363)

SIC

Motorcycles, Bicycles & Parts (3751), Motor Vehicle Parts & Accessories (3714)

akta.pro primary industry

E-scooters & E-mopeds Manufacturing (IMACAOAB)

akta.pro secondary industries

Light Electric Vehicles (NEVs/LSEVs/Quadricycles) Manufacturing (IMACAOAC), Battery Pack & Module Manufacturing (EV) (IMACACAA)

Keywords

• Electric vehicles
• E-rickshaws
• Electric cargo vehicles
• EV batteries
• Automotive manufacturing

Headquarters

HQ city

Biratnagar

HQ country

Nepal

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Electric Vehicle Sales: Sale of electric vehicles including E-Rickshaws, Da Vinci electric cars, and cargo vehicles. One-time purchase revenue from vehicle sales.
2. Battery Sales: Sale of electric vehicle batteries with reported daily income of Rs 1,800 and monthly income of Rs 54,000 per unit. 2000+ units sold in fiscal year 73/74.
3. Spare Parts and After-Sales Service: Genuine spare parts and accessories supply with quick delivery. After-sales service facilities including repairs and maintenance.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

Core offering

Hulas Motors manufactures and sells electric vehicles including e-rickshaws (City and Nano variants), electric cargo vehicles (Big, Small, Hood), and the da vinci electric car, along with proprietary Hulas Battery systems. The company sells through a dealer network spanning 8 cities across Nepal and operates company showrooms and 24/7 mobile service units for after-sales support.

Product overview

Hulas Motors is a Nepal-based electric vehicle manufacturer offering a portfolio of locally produced electric vehicles and batteries. The product line consists of the da vinci electric car for personal/urban commuting, E-Rickshaws (City Rickshaw and Nano Rickshaw) for passenger transport, Cargo vehicles (Big Cargo, Small Cargo, and Hood Cargo) for commercial logistics, and proprietary battery systems. The company positions itself as a green manufacturer promoting environmentally friendly vehicles made in Nepal.

Differentiator

Problem solved

Functional benefit

Products and services

• da vinci Electric Car A locally manufactured electric car designed for urban commuting in Nepal, featuring a compact design, air conditioning, power steering, power brakes, power windows, central locking, reverse camera with sensors, and a trunk. Offers a range of 170 km per charge and a top speed of 60-65 km/h with a 5KW AC motor. Target buyers include individual consumers seeking personal urban transport.
• Hulas City Rickshaw A four-seater electric rickshaw (4+1 capacity) designed for passenger carrying in urban areas. Features a BLDC 48V 1000 Watt motor, 80-100 km range, and 350 kg payload capacity. Target buyers include e-rickshaw operators and passenger transport drivers.
• Hulas Nano Rickshaw A two-seater electric rickshaw (2+1 capacity) with compact dimensions for tight urban spaces. Features a BLDC 48V 1000 Watt motor, 70-80 km range, and 250 kg payload capacity. Target buyers include e-rickshaw operators seeking compact urban vehicles.
• Hulas Big Cargo A large electric cargo vehicle for commercial use with 1500 kg payload capacity, 1500W 60-volt motor, and 5 pcs of 12V 180Ah batteries. Designed for commercial transportation and goods delivery. Target buyers include commercial fleet operators and logistics businesses.
• Hulas Small Cargo A compact electric cargo vehicle for commercial use with 400 kg payload capacity, 1000W 48-volt motor, and 4 pcs of 12V 120Ah batteries. Designed for last-mile logistics and small-scale goods delivery. Target buyers include small commercial fleet operators and last-mile delivery businesses.
• Hulas Hood Cargo An electric cargo vehicle with a hood design for commercial cargo transport. Designed for commercial use in Nepal. Target buyers include commercial fleet operators and cargo transport businesses.
• Hulas Battery Electric vehicle batteries available in 90 Ah, 120 Ah, and 180 Ah configurations with 8-month warranty and 18+ month battery life. The company claims 30% higher efficiency compared to alternatives. Available as standalone products for EV operators with reported daily income potential of Rs 1,800 and monthly income of Rs 54,000 per unit.

Quantifiable outcome

• 100 km range on full charge for cargo vehicles
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Lohia Auto Industries: Lohia Auto Industries manufactures electric two- and three-wheelers including e-rickshaws and electric cargo vehicles for the Indian market. Comparable product portfolio and customer base to Hulas Motors.
• Bajaj Auto: Bajaj Auto is India's largest three-wheeler manufacturer and a major player in compact and electric three-wheelers. Directly comparable to Hulas Motors in the e-rickshaw and light commercial EV categories, with broader product scale.
• Mahindra Electric: Mahindra Electric manufactures electric three-wheelers, small commercial EVs, and electric cars (e.g., e-Verito, Treo). Comparable to Hulas in the electric three-wheeler and light commercial EV space, though at significantly greater scale.
• Kinetic Green Energy & Power Solutions: Kinetic Green designs and manufactures electric two- and three-wheelers, including e-rickshaws and electric cargo vehicles. Direct competitor to Hulas in the electric three-wheeler and last-mile logistics EV segments.
• Atul Auto: Atul Auto manufactures three-wheelers including electric passenger and cargo variants for the Indian and neighboring markets. Comparable in product category (electric three-wheelers) and in addressing similar commercial transportation use cases as Hulas.
• Saera Electric Auto: Saera Electric Auto is one of India's largest e-rickshaw manufacturers, producing electric three-wheelers for passenger transport. Closely comparable to Hulas in e-rickshaw design, pricing tier, and operator-income business model.
• Piaggio Vehicles: Piaggio Vehicles (India) is a leading manufacturer of three-wheelers including electric cargo and passenger variants under the Ape brand. Direct competitor to Hulas in electric three-wheeler and cargo EV segments serving South Asian markets.

Emerging players

• Euler Motors: Euler Motors manufactures electric three-wheeler cargo vehicles for last-mile logistics in India. Comparable to Hulas's Big Cargo, Small Cargo, and Hood Cargo product lines addressing commercial logistics operators.

Regional players

• Terra Motors: Terra Motors is a Japan-headquartered EV manufacturer focused on electric three-wheelers and two-wheelers across South and Southeast Asia. Comparable in product category to Hulas, but operates across different regional markets.

Broad incumbents

• Tata Motors Electric Vehicle Division: Tata Motors is India's largest automobile manufacturer with an expanding electric vehicle lineup including the Tiago EV, Tigor EV, and commercial EVs. Broader incumbent overlap with Hulas in the electric passenger car and commercial EV categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hulas Motors