Euler Motors Secures USD 20 Million From responsAbility In Debt Funding To Scale EV Production
Summary
The new investment will enable Euler Motors to scale production capacity, expand its distribution network, and enhance research and development for advanced EV solutions tailored to Indias logistics and e-commerce sectors. The Storm EV, designed specifically for commercial clients, represents a significant step in electrifying Indias transportation industry.Saurav Kumar, Founder and CEO of Euler Motors, stated The trust shown by responsAbility and our existing investors highlights the growing confidence in our vision to lead Indias electric commercial vehicle market. This investment will help us scale operations, expand reach, and deliver high-performance, sustainable solutions for Indias unique logistics needs.responsAbility recognised Euler Motors role in advancing green mobility. This partnership is an impactful step towards a cleaner and more efficient future.Euler Motors plans to utilise the funding to develop next-generation EV technology. The company also aims to enhance vehicle efficiency and expand its after-sales service network to promote EV adoption across tier-1 and tier-2 cities.