Wheels United (TWU), a Bengaluru-based tech-enabled financier of light electric
vehicles, has partnered with electric vehicle maker Euler Motors to accelerate
the adoption of electric three-wheelers in India and promote sustainable
a part of the partnership, TWU and Euler Motors will deploy over 1000 EV
3-wheelers across Delhi NCR, Bengaluru, Chennai, and Hyderabad by the end of
the financial year 2023.
of the key impediments for large-scale penetration of EV three-wheelers is the
lack of available financing for drivers to easily switch to a less polluting
vehicle. Although the long-term benefits of electric auto-rickshaws, such as
lower total cost of ownership and higher profitability compared to
fuel-operated ones, are attractive, their upfront cost is higher.
drivers are unable to make the shift due to a lack of financing options that
are suitable for them. Three Wheels
United was founded with an aim to remove these barriers in the adoption of
electric vehicles by providing loans covering upto 100% of the asset cost.
Wheels United and Euler Motors will jointly work towards promoting the adoption
of electric cargo three-wheeler ‘Euler HiLoad EV’. With a payload capacity of
688 kg, Euler HiLoad is India’s most powerful three-wheeler cargo. Boasting the
highest payload capacity across the 3W cargo segment in India (including ICE),
it also has a powerful combination of highest liquid cooled battery pack (12.4
kWh) with a certified range (151 KM). Designed uniquely for India, from India,
HiLoad EV is suited to deliver highest performance and longer life in the unpredictable
Indian road and weather conditions.
will provide the required financing solutions for cargo vehicle drivers to
seamlessly switch to EV three-wheelers, and Euler Motors will assist them with
access to charging infrastructure, maintenance, and service of the vehicles,
ensuring minimal downtime for operations. Through this partnership, TWU and
Euler Motors aim to create ‘first generation EV driver entrepreneurs’ by
helping them transition from renting to owning their own vehicles.
Wheels United has over 50,000 drivers on its platform, offering them various
products and services. The company has financed over 4000 auto-rickshaws
resulting in the reduction of 1,72,000+ tonnes of CO2 emissions, and the
generation of an extra $71M in income for the drivers.
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