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Euler Motors raises USD 20 million in debt funding from responsAbility

As part of its broader USD 500 million climate investment strategy, Zurich-headquartered responsAbility Investments AG is investing up to USD 20 million in Euler Motors, a manufacturer of electric commercial vehicles.

Founded in 2018 in Delhi, Euler Motors produces electric three-wheeler and four-wheeler commercial vehicles designed specifically for urban goods transportation. The HiLoad 3W model was introduced in 2020. With a payload capacity of 768 kilograms, a gradeability of 21 per cent, and a range of 170 kilometers, the HiLoad also features a liquid-cooled battery that can be charged in just 15 minutes for a range of 50 km. To date, over 7,000 HiLoad vehicles are operating in 15 Indian cities. Collectively, they have traveled more than 48 million km, said an official statement. In 2024, Euler Motors launched the Storm, a four-wheeler electric vehicle featuring advanced fleet management functions and integrated ADAS (Advanced Driver Assistance Systems) technology, such as collision warning systems.

The investment from responsAbility will support Euler Motors in expanding its production capacity and strengthening its presence in Tier 1 and Tier 2 cities. At the same time, it will accelerate the transition to sustainable mobility solutions.

Saurav Kumar, CEO & Founder of Euler Motors, said, “We are happy to have responsAbility join us on our journey to reshape commercial transportation in India, advancing the shift from ICE to electric. Their support aligns perfectly with our vision of building India’s No. 1 electric commercial vehicle brand. This new funding will boost us to scale further, expand our reach, and continue delivering sustainable, high-performance solutions that meet India’s unique logistics needs.”

Jay Bathija, Senior Investment Officer at responsAbility, said: “We are excited to announce our investment in Euler Motors, a company driving innovation in sustainable transportation. This partnership underscores our commitment to advancing sustainable mobility and aligns with our strategic goal of supporting forward-thinking companies that champion climate action in India’s commercial vehicle sector.”

Sameer Tirkar, Head of Climate Infrastructure Investments, APAC at responsAbility, said: “We are pleased to support Euler Motors in this critical stage of its growth. With their focus on innovation and sustainable mobility, Euler Motors is well-positioned to drive meaningful progress in the EV space, particularly in the commercial and logistics sectors.”

Also Read: Euler Motors new hub in Palwal, Haryana

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