Euler Motors has launched the Turbo EV 1000, a 1-tonne electric mini truck, marking a significant step toward the electrification of India’s small commercial vehicle (SCV) market. With this launch, the company expects faster adoption of electric vehicles in the SCV space, especially within urban logistics and last-mile delivery sectors.
Priced at ₹5.99 lakh, the Turbo EV 1000 is the first of its kind globally in the 1-tonne payload electric mini truck category. Euler Motors believes the timing aligns well with the evolving policy landscape and a growing push for clean transport solutions in Indian cities.
“Turbo EV 1000 comes at a crucial moment in India’s shift toward cleaner mobility. This vehicle is designed to accelerate EV adoption in the four-wheeler commercial segment, which currently sees electric penetration at just around 2%,” said Saurav Kumar, Founder and CEO of Euler Motors.
Mr Kumar noted that electric three-wheelers have already gained significant traction and expects a similar trend to follow in the SCV category. The company is optimistic that reforms in GST, favorable transport policies, and increasing awareness of operational savings will further drive adoption.
Asked about a potential public offering, Mr Kumar said, “Yes, an IPO is on the horizon, though we are currently well-funded and not in a rush.” Earlier this year, Hero MotoCorp acquired a 32.5% stake in Euler Motors for ₹525 crore, strengthening the company’s financial and strategic position.
Highlighting the benefits of the new model, Mr Kumar stated that the Turbo EV 1000 can help fleet operators save up to ₹1.15 lakh annually compared to similar diesel vehicles. The vehicle offers a real-world range of 140–170 km, depending on usage and variant.
The Turbo EV 1000 comes in three variants: the City version priced at ₹5.99 lakh, the Maxx version at ₹7.19 lakh, and the Fast Charge version at ₹8.19 lakh, offering buyers options to suit different needs and budgets. Euler Motors is positioning this launch as a turning point for the commercial EV space, aiming to offer a practical, cost-efficient, and sustainable alternative to diesel-powered SCVs across India’s logistics sector.
Founded in 2018 and based in Delhi, Euler Motors is focused on electric commercial vehicles, primarily for cargo delivery. Recognized with awards like the Apollo Awards 2022 and Businessworld’s “Auto World 40 Under 40”, Euler continues to expand its presence nationwide under a vision to drive mass EV adoption and offer superior alternatives to conventional transport solutions.
