The startup plans to use these funds for a new production facility, research and development (R&D) activities, and expansion of charging and servicing infrastructure.

The company plans to utilise these funds to scale up and strengthen its production capacity to deliver the strong order line up for its recently launched HiLoad EV and also prepare to cater to strong demand from the retail segment. The company already has a 2,500 order line up, which is expected to reach 4500 in the next one year. The company recently launched three-wheeler cargo, HiLoad EV in the cargo segment (including ICE). Euler Motors has a network of 200+ charging stations in Delhi NCR to support electric vehicles on ground; it has now introduced multiple charging systems.

Euler Motors Raises Rs 30 Crore; To Utilise Funds For Biz Expansion

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Euler Motors Raises Rs 30 Crore; To Utilise Funds For Biz Expansion

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