Magenta, Euler Motors Deploy 100 e-Cargo Vehicles in Bengaluru; Mulls to Deploy Additional 1,000 in More Cities

Integrated charging & electric mobility solutions firm Magenta in partnership with Euler Motors has deployed more than 100 electric cargo vehicles under its EVET brand in Bengaluru.
 
In the coming months, the company is also planning to deploy around 1,000 additional e-cargo vehicles in various cities including Bengaluru, Hyderabad, Chennai among others.
 
Additionally, Magenta, which launched its e-mobility platform under the EVET (Electric Vehicle Enabled Transport) brand earlier this year, aimed to deploy and operate more than 2,400 electric vehicles (EVs) in its fleet in Bengaluru, Hyderabad, Mumbai and Chennai this year.
 
Commenting on the development, Darryl Dias, Co-founder & Director of Magenta, said “Magenta’s mission has always been to enable clean mobility. We are thrilled to be adding an environmentally friendly electric fleet to address the ever-increasing need for last-mile logistics and transportation. Our strong intention is to assist e-commerce and logistics enterprises in scaling up while keeping their sustainability and cost-effectiveness goals in mind.”
 
Under EVET, the company has been already operating more than 400 electric cargo transport services using the electric mobility platform.
 
The new 100 electric cargo fleet has been meant for mid-mile and last-mile delivery servicing e-commerce, food delivery, pharma & other last-mile logistics clients.
 
Euler Motors would cater to vehicle deliveries and service support, while EVET via its full-stack technology and ecosystem would oversee customer deployments and service last-mile transportation. The key cities targeted for the deployments include Hyderabad, Chennai, and Bangalore amongst others.
 
“Euler Motors is already on its pursuit to bring a real change in EV adoption and aggressively expand its footprint to drive zero emission logistics in India. EVET and Euler Motors are well-aligned with each other, both founded on a premise to create a clean energy ecosystem in India with segment-first innovation and solutions; we're happy to be partnering with EVET to deploy our highly powered HiLoad EVs for sustainable transportation. This partnership is a testimony of our thriving vision, and of HiLoad’s unique value proposition which sets it apart in the industry. With the growing customer confidence, we intend to make our EVs more accessible and strengthen our presence in new markets and delivery hubs of southern India,” said Saurav Kumar, Founder and CEO, Euler Motors.
 
Under its eFaas (electric Fleet as a service) operating model, EVET currently offers a comprehensive end-to-end solution. The operating model provides electric vehicles bundled with EV charging, parking hubs and full-stack software technology for managing, monitoring and monetizing assets.
 
EVET has witnessed 10x growth since its launch in the Bengaluru market in FY22. By 2025, the company plans to travel 1.5 million green kilometres per month with its Electric Fleet.
 
Seed funded by HPCL in 2018, Magenta is also backed by the Microsoft Start-up Program further to strengthen its advanced technology platform for Electric Mobility. Magenta had raised pre-series funding from JAN (JITO Angel Network), LetsVenture & Series A funding by renowned Indian American philanthropist, Dr. Kiran Patel.
 
Besides, the brand is also currently in discussions to raise Series B funding this year.