Search: Euler Motors

Euler Motors, an Indian electric commercial vehicle manufacturer, has secured INR 437.5 crore (approximately USD 51 million) in Series E funding, as reported by EVreporter. The capital will support the company's expansion in the electric three wheeler and light commercial vehicle segments in India.

Why it matters: This funding strengthens Euler Motors' position in India's commercial EV market, potentially increasing demand for charging infrastructure tailored to fleet operators and last mile delivery vehicles. Procurement teams should monitor Euler's deployment plans, as commercial vehicle electrification typically requires dedicated depot charging solutions.

BlackSoil Capital has deployed ₹75 crore in Euler Motors, leading the Series D1 round following the company's ₹638 crore Series D raise in May 2025. Founded in 2018, Euler Motors manufactures electric three-wheelers and light commercial vehicles for e-commerce, hyperlocal delivery and logistics fleets, and reported revenue of ₹191 crore for FY2024 to 25. The funds will support working capital and infrastructure expansion, with Euler backed by Hero MotoCorp (nearly 36% stake after a ₹275 crore investment in February 2026), GIC and British International Investment.

Why it matters: Euler's infrastructure expansion signals growing demand for commercial EV charging networks tailored to last-mile logistics fleets, creating procurement opportunities for depot and en-route charging solutions. The company's institutional backing and revenue growth underscore the viability of commercial EV operations, which require reliable charging infrastructure to scale.

Jio-bp, the fuel and mobility joint venture between Reliance Industries and BP, has signed a memorandum of understanding with commercial EV maker Euler Motors to deploy charging infrastructure across logistics hubs in India. The partnership aims to support the electrification of last mile delivery fleets by providing dedicated charging points at key logistics sites. Energetica India Magazine reported the agreement.

Why it matters: The MoU signals a pipeline of site opportunities for charge point operators targeting India's fast growing commercial EV segment, particularly in last mile logistics where fleet electrification is accelerating. Partnerships between fuel retailers and fleet OEMs can unlock captive demand and streamline site acquisition for charging networks.