Electric Models To Pick Up Speed In Commercial Vehicles
The automaker said it anticipates positive state and national transport policies, GST reforms and other developments to reshape fleet economics in Indian cities. The company has priced Turbo EV 1000 at Rs 5.99 lakh, targeting India's commercial vehicle market which has about 2 per cent electric penetration at present
PUNE: Euler Motors on Monday said adoption of electric models in the small commercial vehicle segment (SCV) in India is set to grow robustly in the domestic market as it introduces its Turbo EV 1000, positioning it as the world's first 1-tonne electric mini truck to cater to diverse logistics industry needs.
The automaker said it anticipates positive state and national transport policies, GST reforms and other developments to reshape fleet economics in Indian cities. The company has priced Turbo EV 1000 at Rs 5.99 lakh, targeting India's commercial vehicle market which has about 2 per cent electric penetration at present.
"Our Euler Turbo EV 1000 arrives at a pivotal time to drive the transition to sustainable mobility in India,” Euler Motors founder-CEO Saurav Kumar said. “It is poised to be the inflexion point for EV penetration growth in the four-wheel CV segment overall, currently estimated at around 2 per cent," he noted.
Kumar said that the small commercial vehicles are expected to see a rapid adoption of electric variants with electric three-wheelers already witnessing robust sales in the country.
In March this year, Hero MotoCorp acquired a 32.5 per cent stake in Euler Motors for Rs 525 crore.
Kumar claimed that Turbo EV 1000 delivers an annual savings of Rs 1.15 lakh when compared to diesel counterparts. He claimed that the new model is the first in the 1-tonne electric segment to offer a real range of 140-170 km on a single charge.
Euler Turbo EV 1000 comes in three variants -- City, Fast Charge and Maxx, available at Rs 5.99 lakh, Rs 8.19 lakh and Rs 7.19 lakh, respectively.
