Euler Motors Embarks on INR 200 Crore Capacity Expansion

New Delhi, India – Euler Motors, an electric vehicle company, has announced ambitions to boost its production capacity to 3,000 vehicle units per month by the middle of 2022. The company is currently based in Delhi, where it has an integrated R&D and corporate office with a production capacity of 4,000 automobiles per year. It currently intends to produce 35,000 units per year by the end of FY23. Within four months of its release, Euler Motors’ HiLoad EV, India’s most powerful three-wheeler EV, has witnessed considerable demand from both institutional and retail customers. The increased production capacity will not only help to accelerate delivery against the current order book but will also help to fulfill projected demand from Delhi NCR, Bangalore, Hyderabad, Chandigarh, and Pune.

Euler Motors plans to put 8,500 vehicles on the road by FY23. It would also invest INR 200 crore over the next 12 months in developing upgraded state-of-the-art shop floors to increase production capacity in its two existing Delhi-NCR facilities. In addition, the company will build an automated battery line for its patented liquid-cooled battery pack technology. The new facility will set industry standards in green production and sustainable practices, which are consistent with the brand's ethos.

Stating that the customer response to HiLoad has been excellent thanks to the vehicle’s improved load capacity, powerful performance, and higher returns, and that it has been in demand across segments such as retail and ecommerce, as well as throughout marketplaces all over India, since its launch, Saurav Kumar, Founder and CEO, Euler Motors, added, “We attribute these milestones as a sign of the transition to come in the LCV segment and a testament to our own ability to deliver industry-leading EV solutions that are designed uniquely for India. Our investments in capacity expansion are an effort towards fulfilling the growing demand and expanding our market footprint across the country.”

Gaurav Kumar, Head of Supply Chain and Manufacturing, Euler Motors, indicated, “We intend to design state-of-the-art EV manufacturing facilities and build them both for scalability and also to ensure greater in-house control over quality. From supreme battery packs to further advancements in our products, our focus is continued innovation to match evolving business needs. As a responsible OEM, we are committed to sustainability and aim to have a completely green auto value chain while adding multiple recycling processes on the shop floor. To boost our manufacturing output, we are creating an automatic and futuristic shop floor that will set new benchmarks in the EV space.”

Image Source: Euler Motors

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