Euler Motors Accelerates EV Revolution with $20M Boost

Euler Motors has secured a $20 million debt from responsAbility Investments to enhance production, distribution, and R&D efforts. This funding follows a successful Series C round, aiming to accelerate India's commercial EV sector and improve sustainability and logistic solutions with the new Storm EV.

Commercial electric vehicle manufacturer Euler Motors announced it has secured a significant $20 million in debt financing from responsAbility Investments AG. This capital will bolster efforts to increase production and distribution capabilities, while also advancing research and development initiatives.

The fresh funding follows Euler Motors' successful Series C funding round, where it raised an additional Rs 200 crore from investors such as British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund. The company is focused on electrifying India's commercial vehicle market, particularly through its latest four-wheeler, the Storm EV, targeting logistics and e-commerce sectors.

Founder & CEO, Saurav Kumar, expressed that the new funds will allow Euler Motors to scale operations, expand reach, and deliver sustainable solutions tailored to India's logistics demands. The company plans to invest in next-generation EV technology, vehicle efficiency, and strengthening customer service infrastructure.

(With inputs from agencies.)