Euler Motors Raises upto USD 20 Mn in Debt Funding from ResponsAbility Investments
This investment will help accelerate Euler Motors’ mission to electrify India’s commercial vehicle segment, enabling production scaling and advanced R&D for next-generation EV technology.
January 15, 2025. By News Bureau
This investment will help accelerate Euler Motors’ mission to electrify India’s commercial vehicle segment, enabling production scaling and advanced R&D for next-generation EV technology. It will also support the growth of the recently launched Storm EV, Euler Motors’ flagship four-wheeler designed for logistics and e-commerce clients.
Saurav Kumar, Founder & CEO, 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. Over the years, we’ve earned the trust of both new and existing investors, reflecting their confidence in our mission and the growing demand from our customers, evidenced by our strong growth. 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.”
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. This partnership represents an impactful step toward a cleaner, more efficient future for India’s mobility landscape.”
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 vision of supporting forward-thinking companies that champion climate action in India's commercial vehicle sector. Together, we are working to accelerate the shift toward a more sustainable future.
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