Gic Backs Indian Ev Startup Euler Motors In $60 Million Funding
10/04/22, 6:33 AM
Location
new delhiMoney raised
$60 million
Industry
transportation
Euler Motors, an Indian startup that designs and builds commercial electric vehicles, has raised $60 million in a new funding round as it works to ramp up its production capacity and broaden its offerings.
Company Info
Location
new delhi, delhi, india
Additional Info
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.