Euler Motors Forays Into LCV Segment

New Delhi: Electric vehicle maker Euler Motors on Wednesday forayed into the light commercial vehicle segment with the introduction of two electric four-wheelers developed to cater to multiple customer requirements.

The company, which currently sells electric three-wheelers, has introduced two Storm EV trims specifically developed to cater to inter and intra city requirements. In an interaction, Euler Motors Founder and CEO Saurav Kumar noted that electric volumes currently account for less than one per cent of the overall small commercial vehicles (SCV) sales in the country. He noted that the company would like to grow the overall electric SCV segment and then push for market share similar to the one it has in the electric three-wheeler vertical. "In three-wheelers, we have been able to take 20 per cent market share in the cities where we operate. We would like to take a similar kind of percentage even in the small commercial vehicle vertical," Kumar stated.