Bengaluru-based electric vehicles financer, Three Wheels United has announced its partnership with Euler Motors to accelerate the adoption of electric three-wheelers in India.
“As a part of the partnership, TWU and Euler Motors will deploy over 1000 EV 3-wheelers across Delhi NCR, Bengaluru, Chennai, and Hyderabad by the end of the financial year 2023,” the statement said.
Three Wheels United and Euler Motors will jointly work towards promoting the adoption of electric cargo three-wheeler ‘Euler HiLoad EV’. With a payload capacity of 688 kg, Euler HiLoad is India’s most powerful three-wheeler cargo. Boasting the highest payload capacity across the 3W cargo segment in India (including ICE), it also has a powerful combination of the highest liquid-cooled battery pack (12.4 kWh) with a certified range (151 KM). Designed uniquely for India, from India, HiLoad EV is suited to deliver the highest performance and longer life in unpredictable Indian road and weather conditions.
“TWU will provide the required financing solutions for cargo vehicle drivers to seamlessly switch to EV three-wheelers, and Euler Motors will assist them with access to charging infrastructure, maintenance, and service of the vehicles, ensuring minimal downtime for operations. Through this partnership, TWU and Euler Motors aim to create ‘first-generation EV driver entrepreneurs’ by helping them transition from renting to owning their vehicles,” the statement added.
Speaking on the partnership, Saurav Kumar, Founder & CEO, Euler Motors said, “Access to easy financing is a critical market enabler for India to make a large-scale EV transition. Euler Motors and Three Wheels United, both, are committed to solving these EV ecosystem issues from the ground up. Three Wheels United is an expert financier in the electric CV space, and their proven success with their tailor-made and flexible EV financing solutions is already elevating the EV segment. We are excited to partner with Three Wheels United and execute our common vision of zero-emission logistics and sustainable business operations.”
“This partnership will help us drive the faster deployment of our customer order book of 3500 HiLoads with the required financing solutions. Euler Motors will continue to prioritize partnering with other players in the ecosystem who are accelerating the adoption of electric commercial EVs in India. At a user level it also unlocks entrepreneurial opportunities, to empower drivers, provide them the required financial assistance and reap steady returns from EV operations,” Saurav Kumar added.
Commenting on the partnership, Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said “Euler Motors and Three Wheels United have a shared vision of reducing the climate impact of the transportation sector by eradicating barriers to mass adoption of EVs in India. I am excited to partner with a brand that is known for creating innovative and superior alternatives to traditional last-mile logistics.”
“With their deep focus on user experience and products tailored to Indian conditions, Euler Motors has emerged as one of the leading players in the EV three-wheeler category. We will continue to partner with large electric vehicle manufacturers to accelerate our efforts towards promoting sustainable last-mile connectivity. Through our support, drivers can now easily shift to electric three-wheelers and positively impact the environment,” he added.