Accelerating the Transition to Clean Commercial Mobility

Diesel still runs India’s last mile. Last-mile logistics in India has traditionally relied on diesel-powered commercial vehicles, contributing heavily to urban air pollution and greenhouse gas emissions. Electric alternatives have existed for years, but early models often struggled to match the range, payload, and reliability that commercial operations demand, which kept fleet operators on diesel.

Built for fleets, not adapted from consumer EVs. Euler Motors was founded in 2018 by Saurav Kumar, who started the company after selling his previous venture, IoT startup Cube26, to Paytm. Headquartered in Delhi and backed by investors including Hero MotoCorp, Lightrock, GIC, and Blume Ventures, Euler builds electric commercial vehicles engineered specifically for the demands of fleet operators, competing on vehicle performance, operating efficiency, and reliability rather than upfront cost alone. Its flagship HiLoad EV, a three-wheeler cargo vehicle, was built with a payload capacity 40% higher than any comparable diesel vehicle in its category and delivers the highest torque in its segment through a liquid-cooled battery platform researched over three years before launch.

The economics now favour electric. Running costs come to roughly Rs. 1/km compared to Rs. 3-4/km for diesel, letting a customer recover the price premium in about 1.5 years. Major enterprises including Flipkart, BigBasket, Ikea, BlueDart, Nestle, and Magenta now run their delivery fleets on Euler EVs.