Euler Motors has partnered with Shriram Transport Finance(STFC)

The main aim of this partnership is to provide lower interest rates and high loan-to-value for retail customers of HiLoad EVs in pan-India.

Euler Motors has announced a retail financing partnership with Shriram Transport Finance Company (STFC) for the Euler HiLoad EV. Euler Motors, the manufacturer of the popular cargo e-auto HiLoad, has decided to simplify the purchasing process for customers.

The main aim of this partnership is to provide lower interest rates and high loan-to-value for retail customers of HiLoad EVs in pan-India.

Euler will use STFC's financing and segment expertise in the transportation sector to deploy over 20,000 EVs in the next two years, with the goal of making commercial EVs mainstream on Indian roads. The firm's partnership aims to expand the offering across India to meet the growing demand for three-wheelers in cities, semi-urban areas, and rural areas.

The expertise of STFCs in asset management and customer know-how will help Euler to deploy EVs at scale across its target markets.

P. Sridharan, Joint MD of STFC, added that the collaboration with Euler is part of the company's overall strategy to finance the entire e-commerce logistics supply chain ecosystem. According to Umesh Revankar, VC & MD, India's logistics industry is enthusiastically embracing EVs and adopting them at a faster rate than expected.

About Euler Motors

Euler Motors was founded in 2018 by Mr Saurav Kumar, with the goal of creating innovative and technologically superior electric vehicles for the commercial mobility market. The company's goal is to accelerate the global transition to electrification and contribute to the sustainability of mobility. Euler Motors has also built a strong charging infrastructure with multiple charging options, customer-centric servicing, and financing services. It currently employs 1,400 people

Euler Motors launched the HiLoad EV last year. HiLoad EV is India's most powerful electric cargo three-wheeler with a payload capacity of 688 kg, the longest range at 151 km, and a 12.4 kWh proprietary liquid-cooled battery pack.

HiLoad EV now has a large and rapidly expanding order book of over 9000 vehicles.

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