Euler Motors, an Indian startup known for its electric three-wheelers, has expanded its operations into the four-wheeler segment by launching India's first ADAS-equipped Light Commercial Vehicles (LCVs) in its StormEV Range. This move signifies Euler's ambition to capitalize on the burgeoning electric vehicle market in India.
Euler's entry into the electric LCV market presents both challenges and opportunities. While the company's advanced features, such as ADAS, set them apart, competition from established brands and the need to build brand awareness in India are significant hurdles.
At the launch event, Euler's Founder and CEO, Saurav, emphasized the company's commitment to reducing pollution in India. He highlighted the importance of collective efforts from the industry to achieve this goal.
Euler Motors has introduced innovative features in their electric LCVs that differentiate them from competitors. Notably, they are the first in India to offer ADAS technology in this segment.
Battery performance and secondary value are crucial concerns for consumers considering electric vehicles. Euler is addressing these concerns by offering a battery underwrite program.
Euler Motors is currently present in 35 cities across India and is actively expanding its reach to other regions. They are working to increase brand visibility and strengthen their presence in key markets.
While Euler is currently not profitable, they are committed to achieving profitability in the long term. The company believes that their new product will contribute significantly to achieving this goal.
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