Electric Vehicle Maker Euler Motors raises $10M

Euler Motors, an electric vehicle manufacturer, revealed on Monday that it has raised an additional $10 million (about Rs 74 crore) from a group of investors led by QRG Investments and Holdings.

Late last month, the New Delhi-based firm unveiled its first e-three-wheeler cargo HiLoad.

Euler Motors already operates a network of over 200 charge stations in the Delhi-NCR area to assist electric vehicles on the road, and it has now added a multi-charging system.

Commenting on the Saurav Kumar, Founder-CEO, Euler Motors. said “The funding will allow us to further the development and expansion of our operations, and continue building our organization in all functions with the talent necessary to support our mission, ” 

“We are proud to invest in Euler Motors, pioneering path-breaking innovations in EV technology for India, from India. Their customer focus around the electric commercial vehicle and the supporting charging and servicing ecosystem has the potential to transform the face of intra-city logistics,” said Anil Rai Gupta, Chairman, QRG Investments and Holdings.

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