News, 22 May 2025
Hero MotoCorp has led a ₹638 crore Series D funding round for Euler Motors, a commercial electric vehicle manufacturer, with participation from British International Investment (BII). The funding will support Euler Motors in expanding its sales and service network and developing new products to promote the use of commercial EVs in India. This round brings Euler Motors’ total funding to approximately ₹1,420 crore, with previous investments from Blume Ventures, Athera Partners, and others. Euler Motors, established in 2018, specializes in electric three-wheelers and has experienced growth in the e-commerce and retail sectors with its HiLoad EV and StormEV models. In fiscal year 2024, Euler Motors’ operating revenue increased to ₹189 crore, despite the firm recording a loss of ₹227 crore.
About Euler Motors
Euler Motors, founded in 2018, is an Indian commercial electric vehicle manufacturer specializing in three-wheeled EVs for the e-commerce, retail, and logistics segments [Reference 1](). Their product lineup includes the HiLoad EV and StormEV. The company aims to accelerate the adoption of commercial EVs in India
