Euler Motors, a leading electric commercial vehicle manufacturer, marked one year of its Turbo EV 1000 and a year in which it became the second-largest electric player in India's four-wheeler cargo (4W LCV) segment. On the back of its two four-wheeler products, the Euler Storm EV and the Euler Turbo EV 1000, its share of the segment has risen from under 2 percent to close to 25 percent, as electric penetration in the segment rose from nearly 1 percent to about 5 percent. Euler sold around ~6500 units in the period, scaling from roughly 50 vehicles a month in early 2025 to close to 1,000 a month by September 2026.
The Storm EV, a four-wheeler with ADAS, and the Turbo EV 1000, a one-tonne electric truck together gave operators an electric option at parity with a comparable diesel truck on price and lower on running cost. The segment had stayed on diesel largely because electric options cost 30 to 40 percent more upfront for the same work. Pricing and performance to close that gap is what moved demand.
Euler leads in Delhi, with close to 50 percent of the electric four-wheeler cargo market, and the shift now extends to other states where electrification has ramped up in the category. Its segment market share has reached about 25 percent in Maharashtra, where penetration is 8.7 percent, and about 32 percent in Rajasthan, where penetration has crossed 11 percent. Growth is increasingly coming from smaller cities - tier 2 and tier 3 cities like Sikar - Rajasthan, Solapur, Satara, Sangli - Maharashtra, Tiruppur, Salem, Tiruchirappalli - Tamil Nadu. In cities such as Sikar, Euler's dealer reached 40 units a month within three months of opening, led by dairy/milk segments, gas cylinders, FMCGs and water fleets.
Saurav Kumar, Founder and CEO, Euler Motors, said “The four-wheeler cargo segment ran on diesel for years, not because operators wanted it, but because no electric vehicle matched it on the right combination of performance and affordability. We spent four years on this, the first two in research, development and validation before we put a vehicle on the road, because we wanted to get the product right rather than first. The segment has since moved from nearly 1 percent electric to 5 percent, and the operators who come back for a second and third vehicle are the proof. What started in Delhi is now showing up in Rajasthan, Maharashtra, Tamil Nadu, especially the Tier 2 and Tier 3 smaller towns.”
Euler has scaled capacity to meet demand. Its four-wheeler facility at Palwal, Haryana, backed by ?100 crore, can produce up to 24,000 vehicles a year, and the company has set up a new research and development unit and is evaluating a further facility. With the segment still early in its shift to electric, Euler expects penetration to reach 15 to 20 percent in the near term.