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Euler Motors enters 4-wheeler SCV segment with over 1000 kg payload capacity
Industry News- Aug 29,24
The SCV segment in India is expected to reach a market value of Rs 349 billion by FY2027, with internal combustion engine (ICE) vehicles currently leading the market.
Euler Motors, a leading manufacturer of commercial electric vehicles, has announced its expansion into the small commercial vehicle (SCV) segment with the launch of a new 4-wheeler offering a payload capacity of over 1000 kg. Scheduled for release during the upcoming festive season, this vehicle marks Euler's latest effort to meet the growing demand for efficient and high-performance transportation solutions within cities.
Building on the success of its 3-wheeler HiLoad EV, Euler's new 4-wheeler is designed to deliver a long driving range, superior payload capacity, and ergonomic features that enhance the driving experience. Additionally, the vehicle will offer advanced real-time fleet management capabilities, which are crucial for industries like logistics, FMCG, beverages, dairy, paint, and lubricants.
The SCV segment in India is expected to reach a market value of Rs 349 billion by FY2027, with internal combustion engine (ICE) vehicles currently leading the market. However, the electric vehicle (EV) segment is poised for rapid growth, driven by potential cost savings and the likelihood of achieving price parity with traditional fuel vehicles, according to company officials.
Saurav Kumar, Founder and CEO, Euler Motors, emphasized the need for commercial electric vehicles to meet diverse industry requirements in terms of volume, payload, and range. He noted that their research indicates a strong interest among retail and institutional customers in transitioning to high-performance EVs with extended range and advanced features.
Euler Motors' entry into the 4-wheeler SCV segment aligns with its mission to accelerate electric vehicle adoption and promote sustainable urban mobility through innovative solutions tailored for the Indian market.
(AutocarPro)
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