Euler Motors is reshaping India's commercial vehicle landscape with electric cargo solutions. Founded in 2018 by Saurav Kumar, the startup has raised over $229 million and captured a 22% market share in its category. Starting with three-wheeler EVs, Euler expanded into four-wheeler light commercial vehicles, leveraging in-house battery technology and charging infrastructure. Backed by Hero MotoCorp, the company projects revenues will double year-on-year to approximately $48 million by FY26 as it pursues profitability. Euler's growth reflects India's booming commercial EV market, where demand from logistics fleets validates the shift toward cleaner mobility solutions. The startup now competes directly against legacy automakers while addressing urban pollution through electrification of India's commercial transportation backbone.
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